Renovated 10-Unit Multifamily
For Sale
$3,250,000
7435 Byron Ave, Miami Beach, FL 33141
Fully renovated 10-unit multifamily with 2-bedroom/1-bath apartments and private backyards.
Property Size7,865 SF
Price / SF$413.22
Days on Market47
Property Features for 7435 Byron Ave
General Information
Standard status
Active
Size
7,865 SF
Financials
Cap Rate
5.62%
Business Included
Yes
Additional Details
Multifamily Units
10
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Beachfront Realty Inc
Listed By:
Eric Amsallem · License #3185189
(305) 405-0615
Source:
Mymiahomes
Added: Jul 21
Changed: Aug 22
Last Checked: Sep 4 at 9:42AM
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 Beachfront Realty Inc
Investment Insights
Based on property information with market context.
This fully renovated 10-unit multifamily property is built on solid 1950 CBS construction and features ten 2-bedroom, 1-bath apartments. Improvements include interior upgrades plus new electrical and plumbing, new A/Cs, hurricane shutters, refreshed landscaping, and a new roof completed July 2025. The layout also provides five private backyards for select units, adding outdoor space to the residential configuration.
Located at 7435 Byron Ave in Miami Beach, the property is positioned in North Beach, about three blocks to the ocean and near Collins/Harding.
The offering is presented as turnkey, with in-place rents currently around $2,100–$2,200 per month and additional renewal upside toward approximately $2,400–$2,500 per month, supported by the seller’s remarks. An offering memorandum is available upon request.
Located at 7435 Byron Ave in Miami Beach, the property is positioned in North Beach, about three blocks to the ocean and near Collins/Harding.
The offering is presented as turnkey, with in-place rents currently around $2,100–$2,200 per month and additional renewal upside toward approximately $2,400–$2,500 per month, supported by the seller’s remarks. An offering memorandum is available upon request.
Key Highlights
- Fully renovated 10‑unit multifamily built in 1950 (CBS construction) in North Beach area of Miami Beach
- Unit mix: ten 2BR/1BA apartments; each unit includes a private backyard
- Renovations include new electrical and plumbing, new A/Cs, hurricane shutters, refreshed landscaping, and a new roof (July 2025)
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
$120,958
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
3.72%
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%
$2,419,160
$2.4M
Cap Rate 7%
$1,727,971
$1.7M
Cap Rate 9%
$1,343,978
$1.3M
Market Conditions
NOI Build-Up for 7,865 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
$230.3K $29.28/SF
− Vacancy
−$10.4K −$1.32/SF
EGI
$219.9K $27.96/SF
− OpEx
−$99.0K −$12.58/SF
NOI
$121.0K $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%
$2,419,160
Cap Rate 7%
$1,727,971
Cap Rate 9%
$1,343,978
Alternative Uses
Best Use
Apartment 5plus
$1.73M
$1.51M – $2.02M
NOI $120,958 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.99M
$3.49M – $4.66M
NOI $279,317 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,139
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 - Fully renovated 10-unit multifamily with 2-bedroom/1-bath apartments and private backyards.
Where is this apartment building located?
The property is located at 7435 Byron Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Fully renovated 10‑unit multifamily built in 1950 (CBS construction) in North Beach area of Miami Beach; Unit mix: ten 2BR/1BA apartments; each unit includes a private backyard; Renovations include new electrical and plumbing, new A/Cs, hurricane shutters, refreshed landscaping, and a new roof (July 2025)
