Boutique 16-Unit Multifamily
For Sale
$5,100,000
761 Northwest 1st Street, Miami, FL 33128
A fully stabilized, impact-resistant 16-unit community with private rear yards and modern interiors.
Property Size9,804 SF
Price / SF$520.20
Days on Market252
Property Features for 761 Northwest 1st Street
General Information
Standard status
Active
Size
9,804 SF
Property subtype
Multi-Family Income / Fourplex
Site & Location
Neighborhood
Little Managua
Taxes and HOA fees
Annual Taxes
$80,929
Building Details
Year Built
2020
Listing Agency:
Compass
Listed By:
Arthur Porosoff · License #3160379
(305) 733-6066
Source:
Compass
Added: Feb 18
Changed: Oct 25
Last Checked: Oct 26 at 6:55PM
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 Compass
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Investment Insights
Based on property information with market context.
Tecela Little Havana is a sixteen-unit boutique multifamily community delivered in two phases (2017 and 2019). The building is constructed with concrete and CMU, with impact-rated glazing and key-card entry. Interiors feature polished concrete floors, custom millwork, quartz counters, and 9'+ ceilings. The four 2BR-A flats include 13'+ ceilings and each is backed by a 750 SF private rear yard.
Located at 761-771 NW 1st Street in Little Havana, the property is positioned within easy reach of major destinations, including approximately ten minutes to Brickell, twelve minutes to Wynwood, fifteen minutes to the Health District, and twenty-three minutes to MIA.
For buyers seeking a stabilized residential income asset, the property is fully stabilized with one hundred percent occupancy, with no lease-up risk and no concession burn-off as stated in the offering. The combination of durable construction, secure access, and unit features such as private outdoor space and updated finishes supports a straightforward fit for long-term rental operations.
Located at 761-771 NW 1st Street in Little Havana, the property is positioned within easy reach of major destinations, including approximately ten minutes to Brickell, twelve minutes to Wynwood, fifteen minutes to the Health District, and twenty-three minutes to MIA.
For buyers seeking a stabilized residential income asset, the property is fully stabilized with one hundred percent occupancy, with no lease-up risk and no concession burn-off as stated in the offering. The combination of durable construction, secure access, and unit features such as private outdoor space and updated finishes supports a straightforward fit for long-term rental operations.
Key Highlights
- 16‑unit boutique multifamily community at 761–771 NW 1st Street, delivered in two phases (2017 and 2019).
- Fully stabilized with 100% occupancy; no lease‑up risk and no concession burn‑off.
- Concrete and CMU construction with impact‑rated glazing and key‑card entry.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$181,113
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,622,260
$3.6M
Cap Rate 7%
$2,587,329
$2.6M
Cap Rate 9%
$2,012,367
$2.0M
Market Conditions
NOI Build-Up for 9,804 SF
Gross rent
$352.9K $36.00/SF
− Vacancy
−$23.6K −$2.41/SF
EGI
$329.3K $33.59/SF
− OpEx
−$148.2K −$15.11/SF
NOI
$181.1K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,622,260
Cap Rate 7%
$2,587,329
Cap Rate 9%
$2,012,367
Alternative Uses
Best Use
Apartment 5plus
$2.59M
$2.26M – $3.02M
NOI $181,113 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.62M
$5.79M – $7.72M
NOI $463,243 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
4,292
Businesses Nearby
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Business Placement
Demographics for 33128, FL
8,213
Population
4,533
Households
1.8
Avg Household Size
41
Median Age
22%
College-Educated
66%
High-School Grad
0.4 sq mi
ZIP Area
20,533
Density / Sq Mi
$36,308
Median Household Income
$32,082
Median Earnings
$1,316
Median Rent
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A fully stabilized, impact-resistant 16-unit community with private rear yards and modern interiors.
Where is this apartment building located?
The property is located at 761 Northwest 1st Street Miami, FL.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: 16‑unit boutique multifamily community at 761–771 NW 1st Street, delivered in two phases (2017 and 2019).; Fully stabilized with 100% occupancy; no lease‑up risk and no concession burn‑off.; Concrete and CMU construction with impact‑rated glazing and key‑card entry.
