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2285 NE 172nd St 16 Unit Apartment Building $3,600,000 ($225,000/Unit) 6.93% Cap Rate North Miami Beach, FL 33160
Investment Highlights
- High demand residential area.
- Large corner lot.
- Central location.
Executive Summary
Great investment opportunity on this 16 unit building with a swimming pool and laundry room. Nice residential location with high demand for rentals. Unit mix, 14 large 1 bedroom units and two large 2 bedroom units. Located just minutes from Aventura, Eastern Shores, Sunny Isles to the east and I-95 to the west. Also in the center of North Miami Beach with shopping, dining and entertainment all in the area.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $225,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.47 AC |
| Cap Rate | 6.93% | Building Size | 14,513 SF |
| Gross Rent Multiplier | 11.6 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1964/2020 |
| Property Subtype | Apartment | ||
| Zoning | 3800 | ||
| Price | $3,600,000 |
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 6.93% |
| Gross Rent Multiplier | 11.6 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 14,513 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2020 |
| Zoning | 3800 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Oven
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Pool
- Property Manager on Site
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | $1,750 | 700 - 800 |
| 2+1 | 2 | $2,000 | 800 - 900 |
1 1
Walk Score®
Very Walkable (81)
Property Taxes
| Parcel Number | 07-2209-005-0490 | Improvements Assessment | $0 (2025) |
| Land Assessment | $0 (2025) | Total Assessment | $1,815,484 (2025) |
Property Taxes
Parcel Number
07-2209-005-0490
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$1,815,484 (2025)
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2285 NE 172nd St
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