Two-Story 16-Unit Apartment
934 Meridian Ave Miami Beach, FL 33139
For Sale
$4,300,000
Two-story, 16-unit multifamily property with 14 studios and two one-bedroom units on a 7,000 SF lot.
Property Size8,807 SF
Lot Size0.16 Acres
Price / SF$488.25
Days on Market23
Property Features for 934 Meridian Ave
General Information
Standard status
Active
Size
8,807 SF
Lot size
0.16 Acres
Property subtype
General Commercial
Building Details
Year Built
1959
Listing Agency:
Beachfront Realty Inc
(786) 287-3633
Listed By:
Marilina Apfelbaum · License #0662372
(786) 287-3633
Source:
Xome
Added: Jul 5
Changed: Jul 26
Last Checked: Jul 26 at 4:08AM
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 Beachfront Realty Inc
Investment Insights
Based on property information with market context.
This two-story apartment building offers 16 total residences, including 14 studio units and two one-bedroom, one-bath apartments. The property totals 8,807 square feet and sits on a 7,000 square foot lot. Seller-provided updates include a new roof and a new water heater, with the remaining improvements presented as unit-level cosmetic work.
The property is zoned RM-1 and is described as located on a tree-lined street near Flamingo Park, Washington Avenue, Lincoln Road, Española Way, Ocean Drive, and the beach.
The current tenant mix is primarily studio, supplemented by two one-bedroom units, supporting straightforward leasing and unit management across the building.
The property is zoned RM-1 and is described as located on a tree-lined street near Flamingo Park, Washington Avenue, Lincoln Road, Española Way, Ocean Drive, and the beach.
The current tenant mix is primarily studio, supplemented by two one-bedroom units, supporting straightforward leasing and unit management across the building.
Key Highlights
- Two‑story 16‑unit multifamily with 14 studio units and two 1‑bedroom/1‑bath residences
- Total living area of 8,807 SF on a 7,000 SF lot
- Year built: 1959
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 | $257.9k | $29.28 |
| − Vacancy | −$11.6k | −$1.32 |
| EGI | $246.3k | $27.96 |
| − OpEx | −$110.8k | −$12.58 |
| NOI | $135.4k | $15.38 |
8,807 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.26M
NOI $135,446 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.47M
$3.91M – $5.21M
NOI $312,771 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story, 16-unit multifamily property with 14 studios and two one-bedroom units on a 7,000 SF lot.
Where is this apartment building located?
The property is located at 934 Meridian Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Two‑story 16‑unit multifamily with 14 studio units and two 1‑bedroom/1‑bath residences; Total living area of 8,807 SF on a 7,000 SF lot; Year built: 1959
