9-Unit Multifamily Apartment
For Sale
$2,800,000
709 83rd St, Miami Beach, FL 33141
MULTI_FAMILY - Miami Beach, FL
Property Size11,880 SF
Lot Size0.27 Acres
Price / SF$235.69
Days on Market44
Property Features for 709 83rd St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
3900
Subdivision
32
Standard status
Active
APN
02-32-02-008-1700
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
BISCAYNE BEACH SUB PB 44-67 LOT 30 BLK 7 LOT SIZE 50.000 X 113 OR 15557-4459 0692 5
Legal Description
BISCAYNE BEACH SUB PB 44-67 LOT 30 BLK 7 LOT SIZE 50.000 X 113 OR 15557-4459 0692 5
Building Details
Year built
1990
Number of units
9
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Marilina Apfelbaum · License #0662372
(786) 287-3633
Added: Jun 25
Changed: Jun 30
Last Checked: Aug 7 at 3:06AM
MLS# A12001730
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained 9-unit multifamily building was built in 1990 and features 4-story concrete construction with durable concrete block. The property offers approximately 11,880 SF of building area on a 5,650 SF lot and includes central A/C throughout. All nine units are fully occupied, supporting immediate rental income.
Located in Miami Beach’s Biscayne Beach area, the property is described as being just minutes from the beach as well as nearby shopping, dining, and transit. The listing also notes zoning of 3900 (Multifamily 2-9 units). This offering is presented as a portfolio sale that includes 660 85th St.
With nine fully occupied units and established building infrastructure, this asset may suit investors seeking a ready-to-operate multifamily property in Miami Beach’s multifamily zone. The concrete 4-story design and central A/C can help simplify day-to-day operations compared with more fragmented systems. For qualified buyers, it provides a straightforward way to add occupied multifamily inventory in the stated area.
Located in Miami Beach’s Biscayne Beach area, the property is described as being just minutes from the beach as well as nearby shopping, dining, and transit. The listing also notes zoning of 3900 (Multifamily 2-9 units). This offering is presented as a portfolio sale that includes 660 85th St.
With nine fully occupied units and established building infrastructure, this asset may suit investors seeking a ready-to-operate multifamily property in Miami Beach’s multifamily zone. The concrete 4-story design and central A/C can help simplify day-to-day operations compared with more fragmented systems. For qualified buyers, it provides a straightforward way to add occupied multifamily inventory in the stated area.
Key Highlights
- Well‑maintained 9‑unit multifamily building built in 1990
- 4‑story concrete construction with approximately 11,880 SF on a 5,650 SF lot
- All 9 units are fully occupied for immediate rental income
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$182,706
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,654,120
$3.7M
Cap Rate 7%
$2,610,086
$2.6M
Cap Rate 9%
$2,030,067
$2.0M
Market Conditions
NOI Build-Up for 11,880 SF
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.
Gross rent
$347.8K $29.28/SF
− Vacancy
−$15.7K −$1.32/SF
EGI
$332.2K $27.96/SF
− OpEx
−$149.5K −$12.58/SF
NOI
$182.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,654,120
Cap Rate 7%
$2,610,086
Cap Rate 9%
$2,030,067
Alternative Uses
Best Use
Apartment 5plus
$2.61M
$2.28M – $3.05M
NOI $182,706 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.03M
$5.27M – $7.03M
NOI $421,906 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
776
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Concrete 4-story building with central A/C and nine occupied units in a Multifamily 2-9 zoning district.
Where is this apartment building located?
The property is located at 709 83rd St Miami Beach, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Well‑maintained 9‑unit multifamily building built in 1990; 4‑story concrete construction with approximately 11,880 SF on a 5,650 SF lot; All 9 units are fully occupied for immediate rental income
