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    1121 7Th St Miami, FL 33136

    For Sale
    $6,500,000

    64 Units, Prime Riverside Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional investment opportunity presents a brand-new, Class A, 64-unit apartment building in Miami's rapidly developing Riverside neighborhood. Completed in 2024, this two-building complex features four stories and offers a unique co-living model, catering to the high demand for modern, affordable housing. The property boasts a mix of unit sizes, including six three-bedroom units, two two-bedroom units, and six micro-studios, each designed for individual semi-autonomous living. Its strategic location, adjacent to the Miami River and bordering Downtown and Brickell, ensures high occupancy rates and strong rental income. The property's proximity to major employment centers and convenient access to public transportation further enhances its appeal. With a pro-forma annual income exceeding $500,000 and a projected cap rate of nearly 7.73% at the asking price of $6,500,000, this is a compelling investment. The property is zoned T6-8-O, and an adjacent building is also available for sale as a package deal, presenting an even more significant investment opportunity. This is a rare chance to acquire a high-performing, newly constructed multifamily property in one of Miami's most sought-after locations. The property is located at 1121 NW 7th St, Miami, FL 33136.

    Property Features for 1121 7Th St

    General Information

    Property type
    Multifamily properties
    Class
    A

    Building Details

    Year Built
    2024
    Buildings
    2
    Stories
    4
    Units
    64

    HighLights

    • $6,500,000 asking price for a Class A multifamily property.
    • 64‑unit apartment building, newly constructed in 2024.
    • Two 4‑story buildings located in Miami, FL, at 1121 NW 7th St, 33136, in the Riverside/Little Havana neighborhood.
    • Zoned T6‑8‑O.
    • Pro forma NOI of approximately $502,372 annually, yielding a nearly 7.73% cap rate at the asking price. Adjacent building also available for sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sabina's Tailor Tailor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.213338095886
    Latitude
    25.780310813838

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    FAQs

    What type of property is this?
    Multifamily property - 64 Units, Prime Riverside Location
    Where is this multifamily property located?
    The property is located at 1121 7Th St Miami, FL.
    What is the asking price?
    The asking price for this property is $6,500,000.
    What are key features of this property?
    This property features: $6,500,000 asking price for a Class A multifamily property.; 64-unit apartment building, newly constructed in 2024.; Two 4-story buildings located in Miami, FL, at 1121 NW 7th St, 33136, in the Riverside/Little Havana neighborhood.
    Request Owner's contact information
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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
    1121 7Th St Miami, FL 33136
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