6-Unit Multifamily Apartment
1955 Normandy Dr Miami Beach, FL 33141
For Sale
$1,150,000
Pending
A 6-unit multifamily building with on-site laundry and parking for all units in a tropical garden setting.
Property Size4,957 SF
Lot Size0.15 Acres
Days on Market3767
Property Features for 1955 Normandy Dr
General Information
- Standard status
- Pending
- Size
- 4,957 SF
- Lot size
- 0.15 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1956
Listing Agency:
Rich Homes of Florida
(305) 491-7575
Listed By:
Joseph Torregrossa
(305) 491-7575
Source:
Xome
Added: Apr 2, 2016
Changed: Jul 25
Last Checked: Jul 25 at 3:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rich Homes of Florida
Investment Insights
Based on property information with market context.
1955 Normandy Dr is a 6-unit multifamily apartment building built in 1956, totaling 4,957 square feet. The property features four 2-bedroom/2-bath apartments and two 1-bedroom/1-bath apartments. On-site laundry is provided, and there is on-site parking for all units.
The building is described as having a tropical garden setting. The property’s remarks also reference Normandy Island and its proximity to golf, tennis, and the Miami Beach area.
For prospective tenants and buyers, the existing unit mix offers a combination of larger 2-bedroom/2-bath layouts and smaller 1-bedroom/1-bath units, supported by practical on-site amenities including laundry and dedicated parking for each unit.
The building is described as having a tropical garden setting. The property’s remarks also reference Normandy Island and its proximity to golf, tennis, and the Miami Beach area.
For prospective tenants and buyers, the existing unit mix offers a combination of larger 2-bedroom/2-bath layouts and smaller 1-bedroom/1-bath units, supported by practical on-site amenities including laundry and dedicated parking for each unit.
Key Highlights
- 6‑unit multifamily apartment building built in 1956
- 4,957 SF building on a 6,585 SF lot
- Unit mix: four 2‑bedroom/2‑bath units and two 1‑bedroom/1‑bath units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $145.1k | $29.28 |
| − Vacancy | −$6.5k | −$1.32 |
| EGI | $138.6k | $27.96 |
| − OpEx | −$62.4k | −$12.58 |
| NOI | $76.2k | $15.38 |
4,957 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$952.9K – $1.27M
NOI $76,235 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $176,043 @ 7.0% cap · market cap 15.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - A 6-unit multifamily building with on-site laundry and parking for all units in a tropical garden setting.
Where is this apartment building located?
The property is located at 1955 Normandy Dr Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 6‑unit multifamily apartment building built in 1956; 4,957 SF building on a 6,585 SF lot; Unit mix: four 2‑bedroom/2‑bath units and two 1‑bedroom/1‑bath units
