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17031 NE 21st Ave 16 Unit Apartment Building $3,360,000 ($210,000/Unit) 6.07% Cap Rate North Miami Beach, FL 33162
Investment Highlights
- 16-unit apartment building with a unit mix of one and two-bedroom apartments
- Located near US-1 and Biscayne Boulevard, offering quick access to shopping, dining, parks, and Aventura
- Property features updated flooring, electric appliances, wall AC units, a fenced courtyard, pool, and on-site laundry
Executive Summary
17031 Northeast 21st Avenue was constructed in 1961 of concrete block and painted stucco with a flat roof. The building totals 10,778 square feet on a 15,000-square-foot lot, according to the Miami-Dade County Property Appraiser. The unit mix consists of (9) one-bedroom/one-bathroom apartments, (3) two-bedroom/one-bathroom apartments and (4) two-bedroom/two-bathroom apartments. Units feature ceramic tile or vinyl, wood-plank flooring, electric appliances and wall air conditioning units. Common area amenities include a fenced courtyard and pool, as well as community laundry room.
17031 Northeast 21st Avenue is located in North Miami Beach, Florida, with convenient access to Federal Highway (US-1) and Biscayne Boulevard, placing residents near major employment corridors and a dense concentration of retail, dining, and entertainment options. The surrounding 3-mile area reports an average household income of $93,788 and population growth of 7.84% since 2010. Residents benefit from walkable access to Greynolds Park and Greynolds Golf Course, with close proximity to Aventura Mall, Sunny Isles Beach, Haulover Beach, and numerous national retailers and restaurants.
17031 Northeast 21st Avenue is located in North Miami Beach, Florida, with convenient access to Federal Highway (US-1) and Biscayne Boulevard, placing residents near major employment corridors and a dense concentration of retail, dining, and entertainment options. The surrounding 3-mile area reports an average household income of $93,788 and population growth of 7.84% since 2010. Residents benefit from walkable access to Greynolds Park and Greynolds Golf Course, with close proximity to Aventura Mall, Sunny Isles Beach, Haulover Beach, and numerous national retailers and restaurants.
Property Facts
| Price | $3,360,000 | Property Subtype | Apartment |
| Price Per Unit | $210,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.07% | Lot Size | 0.34 AC |
| Gross Rent Multiplier | 9.24 | Building Size | 10,778 SF |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Zoning | Rm-23 - Residential Multifamily | ||
| Price | $3,360,000 |
| Price Per Unit | $210,000 |
| Sale Type | Investment |
| Cap Rate | 6.07% |
| Gross Rent Multiplier | 9.24 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 10,778 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Zoning | Rm-23 - Residential Multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
Site Amenities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | $1,738 | 575 |
| 2+1 | 3 | $1,825 | 725 |
| 2+2 | 4 | $2,192 | 763 |
Very walkable
80/100
Moderately drivable
60/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 07-2209-006-0510 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,284,700 |
Property Taxes
Parcel Number
07-2209-006-0510
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,284,700
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17031 NE 21st Ave
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