Renovated 10-Unit Apartment
For Sale
$3,250,000
7435 Byron Ave, Miami Beach, FL 33141
Residential Income, Miami Beach, FL
Property Size7,865 SF
Price / SF$413.22
Days on Market95
Property Features for 7435 Byron Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
3900
Subdivision
HARDING TOWNSITE
Lot features
< 1/4 Acre
Standard status
Active
APN
02-32-02-003-0310
Size
7,865 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
HARDING TOWNSITE PB 34-4 LOT 10 BLK 3 LOT SIZE 50.000 X 150 OR 18267-2737 0998 1
Tax Annual Amount
32321
Legal Description
HARDING TOWNSITE PB 34-4 LOT 10 BLK 3 LOT SIZE 50.000 X 150 OR 18267-2737 0998 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Wall/Window Unit(s), Window Unit(s), Central Air
Amenities
private backyards
Building Details
Year built
1950
Floors in Building
2
Flooring type
Vinyl
Building materials
Block
Roof type
Flat, Tile
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Eric Amsallem · License #3185189
(786) 985-1374
Added: May 22
Changed: Aug 19
Last Checked: Aug 24 at 10:06AM
MLS# A11891783
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 7,865-square-foot apartment building contains 10 two-bedroom, one-bath apartments, including five units with private backyards. Built in 1950 with block construction, the property has received interior improvements, electrical and plumbing updates, new air-conditioning systems, hurricane shutters, refreshed landscaping, and a new roof completed in July 2025. Flooring is vinyl, and the roof configuration is flat and tile.
The property is located in North Beach in Miami Beach, three blocks from the ocean and near Collins and Harding. Public sewer serves the property. Cooling includes central air, wall/window units, and window units.
The property is located in North Beach in Miami Beach, three blocks from the ocean and near Collins and Harding. Public sewer serves the property. Cooling includes central air, wall/window units, and window units.
Key Highlights
- 10 apartments, each configured with 2BR/1BA
- 5 apartments include private backyards
- 7,865 square feet on a 1950 block‑construction building
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
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 - Updated apartments feature two-bedroom layouts, private outdoor areas, and a combination of central and unit-based cooling.
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: 10 apartments, each configured with 2BR/1BA; 5 apartments include private backyards; 7,865 square feet on a 1950 block‑construction building
