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17150 NE 23rd Ave 12 Unit Apartment Building $2,820,000 ($235,000/Unit) 6.55% Cap Rate North Miami Beach, FL 33160
Investment Highlights
- 12-unit apartment building with a mix of on and two-bedroom units
- Located just west of Biscayne Boulevard, offering quick access to parks, shopping, dining, and Aventura
- Property features concrete block construction, central air, electric appliances, and ceramic tile flooring
Executive Summary
17150 Northeast 23rd Avenue is a two-story, 12-unit apartment building constructed in 1969 of concrete block and painted stucco with a flat roof. The building contains 10,094 square feet of living area on a 10,923-square-foot lot, according to the Miami-Dade Property Appraiser. The unit mix consists of four (4) one-bedroom/one-bathroom apartments and eight (8) two-bedroom/one-bathroom apartments. Typical units are equipped with central air conditioning, electric appliances and ceramic tile floors.
17150 Northeast 23rd Avenue is centrally located in North Miami Beach, just west of Biscayne Boulevard (US-1) and in close proximity to major employment centers, recreational amenities, and shopping destinations. 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.
17150 Northeast 23rd Avenue is centrally located in North Miami Beach, just west of Biscayne Boulevard (US-1) and in close proximity to major employment centers, recreational amenities, and shopping destinations. 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 | $2,820,000 | Property Subtype | Apartment |
| Price Per Unit | $235,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.55% | Lot Size | 0.25 AC |
| Gross Rent Multiplier | 9.04 | Building Size | 10,094 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Zoning | RM-23 - Residential Multifamily | ||
| Price | $2,820,000 |
| Price Per Unit | $235,000 |
| Sale Type | Investment |
| Cap Rate | 6.55% |
| Gross Rent Multiplier | 9.04 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 10,094 SF |
| No. Stories | 2 |
| Year Built | 1969 |
| Zoning | RM-23 - Residential Multifamily |
Amenities
Unit Amenities
- Balcony
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,925 | 750 |
| 2+1 | 8 | $2,517 | 819 |
Very walkable
80/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 07-2209-005-1440 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,653,102 |
Property Taxes
Parcel Number
07-2209-005-1440
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,653,102
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17150 NE 23rd Ave
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