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1784 Normandy Drive 1784 Normandy Dr 4 Unit Apartment Building $1,375,000 ($343,750/Unit) 3.73% Cap Rate Miami Beach, FL 33141
Investment Highlights
- TOP LOCATION IN MIAMI BEACH-BASKET BALL COURTS & PUBLIC SWIMMING POOL NEARBY
Executive Summary
DEVELOPERS & INVESTORS—Rare opportunity to acquire two adjacent four-unit multifamily properties at 1784 and 1794 Normandy Drive in Miami Beach. Offered together, the properties comprise eight (8) existing rental units on approximately 12,500 SF of combined land with approximately 100 feet of frontage in desirable Normandy Isle. The assemblage provides immediate income with compelling long-term redevelopment potential. Preliminary conceptual planning indicates the site may accommodate approximately 12 contemporary townhouses configured as two six-unit modules, subject to verification of zoning, FAR, parking, historic classification and all required City approvals. The properties are located within the RM-1 multifamily district and North Beach National Register Conservation District Overlay. An excellent opportunity to renovate, hold for income or explore a boutique residential redevelopment. See attachments for Conceptual development study. No development plans or unit count are approved or guaranteed. Buyer must conduct independent due diligence with the City of Miami Beach. Please do not disturb tenants.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,375,000 | Property Subtype | Apartment |
| Price Per Unit | $343,750 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 3.73% | Lot Size | 0.14 AC |
| Sale Condition | 1031 Exchange | Building Size | 2,792 SF |
| Gross Rent Multiplier | 17.9 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1946 |
| Zoning | RM-1 - Residential Multifamily | ||
| Price | $1,375,000 |
| Price Per Unit | $343,750 |
| Sale Type | Investment |
| Cap Rate | 3.73% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 17.9 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 2,792 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1946 |
| Zoning | RM-1 - Residential Multifamily |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Storage Space
- Kitchen
- Refrigerator
- Range
- Yard
- Instant Hot Water
- Window Coverings
- Large Bedrooms
Site Amenities
- Basketball Court
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $1,575 | 750 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 02-3210-017-0040 | Total Assessment | $803,590 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
02-3210-017-0040
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$803,590 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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