Multifamily Building with 8
For Sale
$2,059,000
7936 Harding Avenue, Miami Beach, FL 33141
Standalone multifamily building with eight stabilized units: four studios and four one-bedrooms.
Property Size4,640 SF
Price / SF$443.75
Days on Market95
Property Features for 7936 Harding Avenue
General Information
Standard status
Active
Size
4,640 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
8
Building Details
Year Built
1939
Listing Agency:
Elite Ocean View Realty LLC
(305) 600-1278
Listed By:
Teodoro Palmieri · License #3066859
(786) 380-0581
Source:
Lehmannflorida
Added: Jul 20
Changed: Oct 21
Last Checked: Oct 20 at 11:07PM
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 Elite Ocean View Realty LLC
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Investment Insights
Based on property information with market context.
This standalone multifamily property includes 8 stabilized units: 4 studios and 4 one-bedrooms. The building is currently fully occupied on steady one-year leases. Reported financials include gross income of $164,400 per year, operating expenses of $40,777 per year, resulting in a net operating income (NOI) of $123,623.
The asset is located at 7936 Harding Avenue in Miami Beach, Florida. The provided remarks note the property is in a district that explicitly permits short-term rentals (STR), offering the option for a new owner to pivot the building to a vacation rental or flexible-stay model.
The asset is located at 7936 Harding Avenue in Miami Beach, Florida. The provided remarks note the property is in a district that explicitly permits short-term rentals (STR), offering the option for a new owner to pivot the building to a vacation rental or flexible-stay model.
Key Highlights
- Standalone multifamily building built in 1939 with 8 stabilized units: 4 studios and 4 one‑bedrooms
- Current income: $164,400 gross income per year with lean operating expenses of $40,777
- Projected Net Operating Income (NOI) of $123,623 based on provided figures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,360
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,427,200
$1.4M
Cap Rate 7%
$1,019,429
$1.0M
Cap Rate 9%
$792,889
$792.9K
Market Conditions
NOI Build-Up for 4,640 SF
Gross rent
$135.9K $29.28/SF
− Vacancy
−$6.1K −$1.32/SF
EGI
$129.7K $27.96/SF
− OpEx
−$58.4K −$12.58/SF
NOI
$71.4K $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 Rate 5%
$1,427,200
Cap Rate 7%
$1,019,429
Cap Rate 9%
$792,889
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$892.0K – $1.19M
NOI $71,360 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.06M – $2.75M
NOI $164,785 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,558
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Standalone multifamily building with eight stabilized units: four studios and four one-bedrooms.
Where is this apartment building located?
The property is located at 7936 Harding Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $2,059,000.
What are key features of this property?
This property features: Standalone multifamily building built in 1939 with 8 stabilized units: 4 studios and 4 one‑bedrooms; Current income: $164,400 gross income per year with lean operating expenses of $40,777; Projected Net Operating Income (NOI) of $123,623 based on provided figures
