North Miami Multifamily Investment
For Sale
$1,349,900
595 NE 129th St, North Miami, FL 33161
Eight-unit multifamily property in North Miami with significant remodel underway.
Property Size6,298 SF
Lot Size0.30 Acres
Days on Market321
Property Features for 595 NE 129th St
General Information
Standard status
Active
Size
6,298 SF
Lot size
0.30 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$21,176
Building Details
Building Size
6,298 SF
Year Built
1946
Listing Agency:
Cisca Real Estate
Listed By:
Bryan Levy · License #3219866
(305) 546-9657
Source:
Elliman
Added: Nov 28, 2025
Changed: Oct 14
Last Checked: Oct 12 at 9:11PM
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 Cisca Real Estate
Investment Insights
Based on property information with market context.
This is an eight-unit multifamily property located on NE 6th Avenue in North Miami. Each unit features one bedroom and one bathroom. The seller has completed approximately 60% of the building's total remodel. Completed renovations include new interior structural components, new rough plumbing throughout, and new impact windows. The ongoing remodel includes new electrical systems throughout, new drywall, bathrooms and kitchens, flooring, and finishes. The remaining construction is estimated to take four to six months. Rental estimates range between $2,000 and $2,500 per unit, with long-term development potential.
Key Highlights
- High ROI potential with estimated rental income of $2,000-$2,500 per unit.
- Substantial remodel already completed (approximately 60%), including structural, plumbing, impact windows, and electrical.
- Eight‑unit building provides significant investment scale.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,859
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,937,180
$1.9M
Cap Rate 7%
$1,383,700
$1.4M
Cap Rate 9%
$1,076,211
$1.1M
Market Conditions
NOI Build-Up for 6,298 SF
Gross rent
$184.4K $29.28/SF
− Vacancy
−$8.3K −$1.32/SF
EGI
$176.1K $27.96/SF
− OpEx
−$79.2K −$12.58/SF
NOI
$96.9K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,937,180
Cap Rate 7%
$1,383,700
Cap Rate 9%
$1,076,211
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,859 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.20M
$2.80M – $3.73M
NOI $223,667 @ 7.0% cap · market cap 16.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,165
Businesses Nearby
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit multifamily property in North Miami with significant remodel underway.
Where is this apartment building located?
The property is located at 595 NE 129th St North Miami, FL.
What is the asking price?
The asking price for this property is $1,349,900.
What are key features of this property?
This property features: High ROI potential with estimated rental income of $2,000-$2,500 per unit.; Substantial remodel already completed (approximately 60%), including structural, plumbing, impact windows, and electrical.; Eight‑unit building provides significant investment scale.
