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    850 90Th St Miami, FL 33138

    Sponsored
    For Sale
    $1,890,000

    Five-unit income property, Miami Shores

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional five-unit multifamily property in Miami Shores, Florida, presents a compelling investment opportunity. Located at 850 NE 90th St, 33138, this two-story building, constructed in 1951, boasts a desirable location just three blocks from the bay in a quiet, beautiful neighborhood. The property features a mix of unit sizes: two two-bedroom, two-bathroom units and three one-bedroom, one-bathroom units, all currently leased on a month-to-month basis. Recent upgrades significantly enhance the property's value and appeal, including a fresh coat of paint on the building exterior, a 15-year-old roof (sealed and painted), new commercial washer and dryer, new kitchen appliances and cabinets, and new countertops. Further improvements include a one-year-old septic tank, a privacy-enhancing wood fence surrounding the property, new awnings, a gated entry with key access, and exterior LED lighting. Walkways and terraces have been recently painted and sanded. Each one-bedroom unit offers a spacious outdoor porch. The two-bedroom units are generously sized with ample closet space. All units are equipped with InstaHot water heaters and energy-efficient mini-split AC units with heating capabilities. The asking price is $1,890,000. This property offers strong rental income potential and is an excellent addition to any investment portfolio.

    Property Features for 850 90Th St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1951
    Stories
    2
    Units
    5

    HighLights

    • Five‑unit multifamily property in desirable Miami Shores location.
    • Two‑story building (1951 construction) located three blocks from the bay.
    • Unit mix: two 2/2s and three 1/1s, all month‑to‑month leases.
    • Recent upgrades include exterior paint, roof (sealed & painted), appliances, cabinets, countertops, septic tank, fence, awnings, gated entry, LED lighting, and walkway/terrace improvements.
    • $1,890,000 asking price; strong rental income potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1800304
    Latitude
    25.8582968

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit income property, Miami Shores
    Where is this multifamily property located?
    The property is located at 850 90Th St Miami, FL.
    What is the asking price?
    The asking price for this property is $1,890,000.
    What are key features of this property?
    This property features: Five-unit multifamily property in desirable Miami Shores location.; Two-story building (1951 construction) located three blocks from the bay.; Unit mix: two 2/2s and three 1/1s, all month-to-month leases.
    Request Owner's contact information
    850 90Th St Miami, FL 33138
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    Miami, FL 33138
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    850 90Th St Miami, FL 33138
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