Twenty-Unit Apartment
For Sale
$3,600,000
6855 Byron Avenue, Miami Beach, FL 33141
For sale, a 20-unit apartment building in North Miami Beach, offering residential income housing.
Property Size13,178 SF
Price / SF$273.18
Days on Market2387
Property Features for 6855 Byron Avenue
General Information
Standard status
Active
Size
13,178 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Additional Details
Multifamily Units
20
Taxes and HOA fees
Annual Taxes
$49,671
Building Details
Year Built
1956
Listing Agency:
Grand Realty of America, Corp.
Listed By:
Rosa Salas · License #3258018
(305) 931-7878
Source:
Compass
Added: Apr 7, 2020
Changed: Oct 14
Last Checked: Oct 19 at 8:44AM
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 Grand Realty of America, Corp.
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Investment Insights
Based on property information with market context.
This for-sale property is a 20-unit apartment building configured for residential rental use. It presents as an income-generating multifamily asset.
Located at 6855 Byron Ave in North Miami Beach (Miami Beach, FL 33141), the building is positioned within a well-established residential area. The available information does not detail individual unit mix, on-site amenities, or any specific building improvements.
Interested parties should confirm current occupancy, deferred maintenance items, and operating expenses with the seller or listing broker prior to making an offer.
Located at 6855 Byron Ave in North Miami Beach (Miami Beach, FL 33141), the building is positioned within a well-established residential area. The available information does not detail individual unit mix, on-site amenities, or any specific building improvements.
Interested parties should confirm current occupancy, deferred maintenance items, and operating expenses with the seller or listing broker prior to making an offer.
Key Highlights
- 20‑unit apartment building in North Miami Beach
- Residential income housing property listed for sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,669
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,053,380
$4.1M
Cap Rate 7%
$2,895,271
$2.9M
Cap Rate 9%
$2,251,878
$2.3M
Market Conditions
NOI Build-Up for 13,178 SF
Gross rent
$385.9K $29.28/SF
− Vacancy
−$17.4K −$1.32/SF
EGI
$368.5K $27.96/SF
− OpEx
−$165.8K −$12.58/SF
NOI
$202.7K $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%
$4,053,380
Cap Rate 7%
$2,895,271
Cap Rate 9%
$2,251,878
Alternative Uses
Best Use
Apartment 5plus
$2.90M
$2.53M – $3.38M
NOI $202,669 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.69M
$5.85M – $7.80M
NOI $468,003 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
2,212
Businesses Nearby
Explore this area
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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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 - For sale, a 20-unit apartment building in North Miami Beach, offering residential income housing.
Where is this apartment building located?
The property is located at 6855 Byron Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 20‑unit apartment building in North Miami Beach; Residential income housing property listed for sale
