Miami Beach Multifamily Investment
For Sale
$1,574,000
7630 Byron Avenue, Miami Beach, FL 33141
Income-producing, renovated 6-unit property near Miami Beach.
Property Size3,400 SF
Price / SF$462.94
Days on Market130
Property Features for 7630 Byron Avenue
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Residential Income / Fourplex
Taxes and HOA fees
Annual Taxes
$17,050
Building Details
Year Built
1950
Listing Agency:
The Keyes Company
Listed By:
Ryan Sullivan · License #3275793
(954) 389-3459
Source:
Compass
Added: Apr 28
Changed: Sep 2
Last Checked: Sep 1 at 11:37PM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This multifamily property in Miami Beach presents an investment opportunity. The fully renovated building contains six units, including four 1-bedroom/1-bath residences and two studio apartments. The property is located near the beach, Collins Avenue, dining, shopping, and entertainment venues. The property generates rental income exceeding $11,300 per month. Upgrades throughout the property contribute to low-maintenance ownership and tenant appeal. The property contains 3,400 square feet.
Key Highlights
- Prime Miami Beach location, steps from the beach, Collins Avenue, dining, shopping, and entertainment.
- Fully renovated, turnkey property with 6 income‑producing units.
- Strong current cash flow with gross rental income exceeding $11,300/month.**
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
$52,290
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
3.32%
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%
$1,045,800
$1.0M
Cap Rate 7%
$747,000
$747.0K
Cap Rate 9%
$581,000
$581.0K
Market Conditions
NOI Build-Up for 3,400 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
$99.6K $29.28/SF
− Vacancy
−$4.5K −$1.32/SF
EGI
$95.1K $27.96/SF
− OpEx
−$42.8K −$12.58/SF
NOI
$52.3K $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%
$1,045,800
Cap Rate 7%
$747,000
Cap Rate 9%
$581,000
Alternative Uses
Best Use
Apartment 5plus
$747.0K
$653.6K – $871.5K
NOI $52,290 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,747 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,084
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 - Income-producing, renovated 6-unit property near Miami Beach.
Where is this apartment building located?
The property is located at 7630 Byron Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,574,000.
What are key features of this property?
This property features: Prime Miami Beach location, steps from the beach, Collins Avenue, dining, shopping, and entertainment.; Fully renovated, turnkey property with 6 income‑producing units.; Strong current cash flow with gross rental income exceeding $11,300/month.**
