Six-Unit Apartment
For Sale
$1,250,000
Miami, FL 33135, Miami, FL 33135
Residential Income, Miami, FL
Property Size3,693 SF
Price / SF$338.48
Days on Market52
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
5700
Bedrooms
10
Full bathrooms
8
Rooms
Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 10, Bathroom 7, Bedroom 3, Bedroom 8, Bathroom 4, Bedroom 9, Bathroom 8, Bathroom 6, Bedroom 7, Bathroom 2, Bathroom 1, Bathroom 5, Bedroom 5, Bedroom 6, Bedroom 4
Parking
7
Subdivision
ELDA GDNS SUB
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-10-075-0010
Size
3,693 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
ELDA GDNS SUB PB 98-36 LOT 1 BLK 1 LOT SIZE IRR OR 21194-2937 04 2003 1 COC 24845-0655 02 2006 4
Tax Annual Amount
12500
Legal Description
ELDA GDNS SUB PB 98-36 LOT 1 BLK 1 LOT SIZE IRR OR 21194-2937 04 2003 1 COC 24845-0655 02 2006 4
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1938
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Flat, Tile
Listing Agency:
Julies Realty, LLC
(305) 751-6400
Listed By:
DeLonte Copeland Sr · License #3385364
(305) 440-7303
Added: Aug 14
Changed: Sep 13
Last Checked: Oct 4 at 8:06AM
MLS# A12057085
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Miami apartment building contains 6 units within 3,693 square feet of building area. Constructed in 1938, the property is built with block materials and finished with tile flooring. The building includes central heating and central air conditioning, with a flat and tile roof configuration.
Public sewer serves the property. The existing improvements require minimal rehabilitation, providing a defined scope for a buyer evaluating the building’s current condition. The property is located in Miami, Florida 33135, within Miami-Dade County.
Public sewer serves the property. The existing improvements require minimal rehabilitation, providing a defined scope for a buyer evaluating the building’s current condition. The property is located in Miami, Florida 33135, within Miami-Dade County.
Key Highlights
- 6‑unit apartment building
- 3,693 square feet of building area
- Built in 1938 with block construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,222
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,364,440
$1.4M
Cap Rate 7%
$974,600
$974.6K
Cap Rate 9%
$758,022
$758.0K
Market Conditions
NOI Build-Up for 3,693 SF
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.
Gross rent
$132.9K $36.00/SF
− Vacancy
−$8.9K −$2.41/SF
EGI
$124.0K $33.59/SF
− OpEx
−$55.8K −$15.11/SF
NOI
$68.2K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,364,440
Cap Rate 7%
$974,600
Cap Rate 9%
$758,022
Alternative Uses
Best Use
Apartment 5plus
$974.6K
$852.8K – $1.14M
NOI $68,222 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.49M
$2.18M – $2.91M
NOI $174,496 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,251
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Miami apartment property with block construction, tile flooring, and central heating and air conditioning.
Where is this apartment building located?
The property is located at Miami, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 6‑unit apartment building; 3,693 square feet of building area; Built in 1938 with block construction
