16890 21 Ave North Miami Beach, FL 33162
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 16890 21 Ave
- Year built
- 1964
- Property type
- Commercial real estate
- APN
- 07-2209-006-1990
Description
This exceptional 10-unit apartment building presents a compelling investment opportunity in the thriving North Miami Beach market. The property, located at 16890 NE 21st Ave, boasts 8,199 square feet of net rentable space within a single, two-story building constructed in 1964. The unit mix comprises eight one-bedroom/one-bathroom units and two two-bedroom/two-bathroom units, catering to a diverse tenant base. Situated on a 10,000 square foot lot zoned RM-23, the property benefits from a prime location, offering convenient access to major transportation arteries, including proximity to Miami and Fort Lauderdale International Airports. Residents enjoy the convenience of an on-site laundry facility. Completed in early 2024, the 40-year building recertification ensures structural and electrical safety until 2034. The property's central location provides easy access to a wealth of amenities, including Victory Park (featuring a pool, basketball courts, and playground), Aventura Mall (one of the largest in Florida), and Oleta River State Park. Currently, two units are vacant but have pending applications. The asking price is $2,200,000, representing a 5.46% cap rate. This presents a rare opportunity to acquire a well-maintained multifamily property in a high-demand area with significant upside potential. The property's simple fee ownership structure further enhances its appeal to discerning investors.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Miami Beach
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.158311971355
- Latitude
- 25.931659169017
