Renovated Multifamily Property in Little River

131 NE 77th St, Miami, FL 33138

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For Sale

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Renovated 6-unit multifamily property in Little River near Design District.

Type:Multifamily

Property size:

6,090 SF

Price / SF:

$320/SF

HighLights

Prime location in Little River near the Design District and Wynwood, included in Major Developments.
Renovated 2‑story multifamily property with 6 units, each featuring 2 bedrooms and 1 bathroom.
New roof and Impact Windows.
Corner lot property is fenced.
Opportunity to build a brand‑new property or rent out the 6 units for monthly income.
Easy access to Major Highways, Downtown Miami, and Miami Beach.

We can help!

Listing Contact

Adner Joseph

For Sale

Contact for pricing

Renovated 6-unit multifamily property in Little River near Design District.

Type:Multifamily

Property size:

6,090 SF

Price / SF:

$320/SF

Added:: Sep 17, 2024
Days on Market:: 631
Last Refresh:: May 12 at 10:24 pm

Property Features for 131 NE 77th St

General Information

Standard status: Active
Size: 6,090 SF
Property subtype: Multifamily

Building Details

Year Built: 1975

We can help!

Listing Contact

Adner Joseph

Listing agent Adner Joseph License #3492748

Listing office London Foster Realty

Listing date Sep 17, 2024

Source Crexi

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 London Foster Realty

HighLights

Prime location in Little River near the Design District and Wynwood, included in Major Developments.
Renovated 2‑story multifamily property with 6 units, each featuring 2 bedrooms and 1 bathroom.
New roof and Impact Windows.
Corner lot property is fenced.
Opportunity to build a brand‑new property or rent out the 6 units for monthly income.
Easy access to Major Highways, Downtown Miami, and Miami Beach.

Overview

This is a renovated two-story multifamily property situated on a corner lot, comprising six units. Each unit includes two bedrooms and one bathroom. The property is fenced and equipped with a new roof and impact windows. Located in Little River, it offers proximity to the Design District and Wynwood. The location is part of major developments and provides easy access to major highways, Downtown Miami, and Miami Beach. The property size is 6090 square feet. It presents an opportunity for investors to construct a new property or generate monthly income by renting out the existing units.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$219.2k	$36.00
− Vacancy	−$14.7k	−$2.41
EGI	$204.6k	$33.59
− OpEx	−$92.0k	−$15.11
NOI	$112.5k	$18.47

6,090 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.61M

$1.41M – $1.88M (±1% cap)

NOI $112,503 @ 7.0% cap · market cap 5.77%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$4.11M

$3.60M – $4.80M (±1% cap)

NOI $287,755 @ 7.0% cap · market cap 14.76%

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

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Miami
County: Miami-Dade
State: Florida
Longitude: -80.194239
Latitude: 25.845767

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For sale
Apartment buildings
FL
Miami
33138
131 NE 77th St

What type of property is this?

Apartment building - Renovated 6-unit multifamily property in Little River near Design District.

Where is this apartment building located?

The property is located at 131 NE 77th St Miami, FL.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: Prime location in Little River near the Design District and Wynwood, included in Major Developments.; Renovated 2‑story multifamily property with 6 units, each featuring 2 bedrooms and 1 bathroom.; New roof and Impact Windows.