8-Unit Apartment
For Sale
$1,600,000
2070 Ali Baba Avenue, Opa Locka, FL 33054
The property offers a mix of two-bedroom and one-bedroom residences.
Property Size5,606 SF
Price / SF$285.41
Days on Market981
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Property Features for 2070 Ali Baba Avenue
General Information
Standard status
Active
Size
5,606 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Units
Unit Mix
6 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$21,900
Building Details
Year Built
1960
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Carlos Miranda · License #3129999
(305) 431-2258
Source:
Compass
Added: Feb 7, 2024
Changed: Oct 7
Last Checked: Oct 15 at 2:01AM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This apartment property contains eight residential units within a 5606-square-foot building constructed in 1960. The unit mix includes six two-bedroom, one-bathroom residences and two one-bedroom, one-bathroom residences, providing a defined combination of layouts within the same multifamily asset.
The property is located at 2070 Ali Baba Avenue in Opa-Locka, Florida 33054. Its residential configuration and documented unit mix provide a clear basis for evaluating the building as an apartment investment property. The available information identifies the asset as an apartment building offered for sale.
The property is located at 2070 Ali Baba Avenue in Opa-Locka, Florida 33054. Its residential configuration and documented unit mix provide a clear basis for evaluating the building as an apartment investment property. The available information identifies the asset as an apartment building offered for sale.
Key Highlights
- Eight‑unit apartment building
- Unit mix includes six two‑bedroom, one‑bathroom units and two one‑bedroom, one‑bathroom units
- 5606 SF building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,562
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,071,240
$2.1M
Cap Rate 7%
$1,479,457
$1.5M
Cap Rate 9%
$1,150,689
$1.2M
Market Conditions
NOI Build-Up for 5,606 SF
Gross rent
$201.8K $36.00/SF
− Vacancy
−$13.5K −$2.41/SF
EGI
$188.3K $33.59/SF
− OpEx
−$84.7K −$15.11/SF
NOI
$103.6K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,071,240
Cap Rate 7%
$1,479,457
Cap Rate 9%
$1,150,689
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.29M – $1.73M
NOI $103,562 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.78M
$3.31M – $4.41M
NOI $264,886 @ 7.0% cap · market cap 16.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 33054, FL
30,352
Population
10,263
Households
3
Avg Household Size
37
Median Age
10%
College-Educated
75%
High-School Grad
8.4 sq mi
ZIP Area
3,613
Density / Sq Mi
$42,779
Median Household Income
$31,147
Median Earnings
$1,346
Median Rent
$291,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The property offers a mix of two-bedroom and one-bedroom residences.
Where is this apartment building located?
The property is located at 2070 Ali Baba Avenue Opa Locka, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Eight‑unit apartment building; Unit mix includes six two‑bedroom, one‑bathroom units and two one‑bedroom, one‑bathroom units; 5606 SF building
