Waterfront Multifamily
7805 And 7815 Crespi Boulevard Miami Beach, FL 33141
7805 And 7815 Crespi Boulevard, Miami Beach, FL, 33141
$4,749,000
For Sale
$4,749,000
Two waterfront apartment buildings on the Tatum Waterway provide 12 versatile units with newer roofs and ongoing recertification.
Property Size11,817 SF
Price / SF$401.88
Days on Market40
Property Features for 7805 And 7815 Crespi Boulevard
General Information
- Standard status
- Active
- Size
- 11,817 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1956
Listing Agency
THE KEYES COMPANY
Listed by
MARIA E CARRILLO · License #A11913098
Source
Corcoran
Added: Jun 9 Checked: Jul 15 at 8:06 pm
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 offering consists of two waterfront apartment buildings situated on the Tatum Waterway in Biscayne Point. Combined, the properties total 12 units with a varied mix of studio, one-bedroom, two-bedroom, and three-bedroom residences, including layouts with dens. Both buildings feature newer roofs, with recertification currently underway, supporting continued building maintenance and upkeep.
The buildings are located at 7805 and 7815 Crespi Boulevard, directly across from Crespi Park. The setting places the property on the water and within close proximity to the beach and Bal Harbour, with the surrounding area described as home to dining, shopping, and entertainment.
For buyers seeking a small-scale, mixed residential income property, the unit mix offers flexibility for tenant profiles ranging from studios and one-bedrooms to larger family-style layouts. With roof improvements in place and recertification in progress, the asset may appeal to owner-operators and investors looking to acquire a waterfront multifamily with a defined residential configuration and ongoing capital documentation.
The buildings are located at 7805 and 7815 Crespi Boulevard, directly across from Crespi Park. The setting places the property on the water and within close proximity to the beach and Bal Harbour, with the surrounding area described as home to dining, shopping, and entertainment.
For buyers seeking a small-scale, mixed residential income property, the unit mix offers flexibility for tenant profiles ranging from studios and one-bedrooms to larger family-style layouts. With roof improvements in place and recertification in progress, the asset may appeal to owner-operators and investors looking to acquire a waterfront multifamily with a defined residential configuration and ongoing capital documentation.
Key Highlights
- Two waterfront apartment buildings on the Tatum Waterway in Biscayne Point
- Total of 12 units across both buildings with a versatile mix of floor plans
- Unit mix at 7805: 2 studios, 2 1BD/1BA, and 2 large 3BD/2BA residences
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 | $346.0k | $29.28 |
| − Vacancy | −$15.6k | −$1.32 |
| EGI | $330.4k | $27.96 |
| − OpEx | −$148.7k | −$12.58 |
| NOI | $181.7k | $15.38 |
11,817 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.60M
$2.27M – $3.03M
NOI $181,737 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.00M
$5.25M – $6.99M
NOI $419,668 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two waterfront apartment buildings on the Tatum Waterway provide 12 versatile units with newer roofs and ongoing recertification.
Where is this apartment building located?
The property is located at 7805 And 7815 Crespi Boulevard Miami Beach, FL.
What is the asking price?
The asking price for this property is $4,749,000.
What are key features of this property?
This property features: Two waterfront apartment buildings on the Tatum Waterway in Biscayne Point; Total of 12 units across both buildings with a versatile mix of floor plans; Unit mix at 7805: 2 studios, 2 1BD/1BA, and 2 large 3BD/2BA residences
