Boutique 16-Unit Multifamily
761 Northwest 1st Street Miami, FL 33128
761 Northwest 1st Street, Miami, FL, 33128
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For Sale
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A fully stabilized, impact-resistant 16-unit community with private rear yards and modern interiors.
Property Size14,212 SF
Price / SF$358.85
Days on Market37
Property Features for 761 Northwest 1st Street
General Information
- Standard status
- Active
- Size
- 14,212 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2017
Listing agency
Porosoff Group
(305) 766-1864
Listed by
Arthur Porosoff · License #3160379
Source
Crexi
Added: Jun 16 Updated: Jul 10 at 2:01PM Checked: Jul 21 at 1:30PM
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 Porosoff Group
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.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $511.6k | $36.00 |
| − Vacancy | −$34.3k | −$2.41 |
| EGI | $477.4k | $33.59 |
| − OpEx | −$214.8k | −$15.11 |
| NOI | $262.5k | $18.47 |
14,212 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.75M
$3.28M – $4.38M
NOI $262,544 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.59M
$8.39M – $11.19M
NOI $671,523 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Stay Alfred Little ...
Hotel & Motel
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FAQs
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.
