For Sale
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Property summary
This exceptional 64-unit apartment building presents a compelling investment opportunity in North Miami Beach, Florida. The property, situated on a 2.85-acre lot, comprises a two-story, 54,006 square foot building (36,840 net rentable square feet) constructed in 1978. The unit mix includes 40 studios, 16 one-bedroom/one-bathroom lofts, six one-bedroom/two-bathroom units, one two-bedroom/two-bathroom unit, and one two-bedroom/two-bathroom loft. Building features include concrete block construction with stucco finish and pitched shingle roofs, well-lit interior corridors, laundry rooms on each floor, and 86 on-site parking spaces. Units boast private balconies or terraces, with select units offering lake or park views and vaulted ceilings. The property benefits from its proximity to major roadways (Ives Dairy Road and I-95), offering convenient access while maintaining a tranquil neighborhood atmosphere. Nearby amenities include a shopping center with various retailers and restaurants, and the desirable Aventura Isles community. Aventura, with its renowned mall, hospital, and beaches, is a short drive away. Significant rental upside potential exists through lease-up and market rent adjustments, with neighboring properties demonstrating higher rental rates. The property is zoned RU-4 (High Density Apartment House District) and is adjacent to the 4.3-acre Gordon Park, providing residents with additional recreational amenities. This property offers a strong foundation for immediate income generation and future value appreciation. The asking price is $12,450,000.
Property profile
VerifiedCap rate & NOI
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the North Miami Beach market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
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Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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