5-Unit Multifamily
1980 Biarritz Dr, Miami Beach, FL 33141
For Sale
$1,549,000
The residential mix includes one- and two-bedroom layouts, including a penthouse with two bathrooms.
Property Size3,924 SF
Lot Size0.15 Acres
Price / SF$394.75
Days on Market150
Property Features for 1980 Biarritz Dr
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Serhant
Listed By:
Julieta Suarez Lepre · License FL #3352992
(305) 804-7048
Source:
Rgirealty
Added: Jun 19
Changed: Nov 14
Last Checked: Nov 14 at 8:06PM
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 Serhant
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Investment Insights
Based on property information with market context.
Built in 1951, this Miami Beach multifamily property contains five residences across 3,924 square feet on a 6,662-square-foot lot. The unit mix comprises three 1-bedroom/1-bathroom apartments, one 2-bedroom/1-bathroom apartment, and a penthouse residence with 1 bedroom and 2 bathrooms.
The property is at 1980 Biarritz Dr in the Normandy Isle neighborhood. Normandy Park, a community pool, dining, cafés, shopping, and everyday conveniences are nearby. Biscayne Boulevard, North Beach, and major transit routes are accessible from the area.
The property is at 1980 Biarritz Dr in the Normandy Isle neighborhood. Normandy Park, a community pool, dining, cafés, shopping, and everyday conveniences are nearby. Biscayne Boulevard, North Beach, and major transit routes are accessible from the area.
Key Highlights
- Five units: three 1BD/1BA, one 2BD/1BA, and one 1BD/2BA penthouse
- 3,924 SF building on a 6,662 SF lot
- Built in 1951
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,891
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,217,820
$1.2M
Cap Rate 7%
$869,871
$869.9K
Cap Rate 9%
$676,567
$676.6K
Market Conditions
NOI Build-Up for 3,924 SF
Gross rent
$118.7K $30.24/SF
− Vacancy
−$8.0K −$2.03/SF
EGI
$110.7K $28.21/SF
− OpEx
−$49.8K −$12.70/SF
NOI
$60.9K $15.52/SF
Area
Miami-Dade County, FL
Vacancy
6.70%
Lease Rate
$30.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,217,820
Cap Rate 7%
$869,871
Cap Rate 9%
$676,567
Alternative Uses
Best Use
Apartment 5plus
$869.9K
$761.1K – $1.01M
NOI $60,891 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,996 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
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Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Miami Beach, FL
Properties on Market for Multifamily properties in Miami Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - The residential mix includes one- and two-bedroom layouts, including a penthouse with two bathrooms.
Where is this multifamily property located?
The property is located at 1980 Biarritz Dr Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: Five units: three 1BD/1BA, one 2BD/1BA, and one 1BD/2BA penthouse; 3,924 SF building on a 6,662 SF lot; Built in 1951
