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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
- Fully occupied 16-unit apartment building with a strong rental history.
- Amenities include a swimming pool, on-site laundry facilities, and private balconies.
- Convenient access to I-95 and public transportation for easy regional connectivity.
- Unit mix includes 14 one-bedroom units and two two-bedroom units, offering diverse tenant appeal.
- Located minutes from Aventura, Sunny Isles, and major retail and dining destinations.
- Renovated in 2020, enhancing property condition and tenant experience.
Executive Summary
This 16-unit multifamily property in North Miami Beach presents a compelling investment opportunity with a listed price of $3,600,000 and a 6.93% capitalization rate. The property consists of 14 spacious one-bedroom units and two two-bedroom units, all situated on a large corner lot. Recent renovations enhance the building’s appeal, while amenities such as a swimming pool, on-site laundry facilities, and balconies add to tenant satisfaction.
The location offers exceptional connectivity and convenience. Positioned minutes from Aventura, Sunny Isles, and Eastern Shores, the property benefits from proximity to major retail, dining, and entertainment destinations. Easy access to I-95 ensures strong regional connectivity, while nearby public transportation options support tenant mobility. The surrounding neighborhood is a high-demand residential area, contributing to consistent occupancy and rental demand.
With its combination of stable income, desirable location, and updated features, this asset is well-suited for investors seeking long-term value in a thriving South Florida market.
The location offers exceptional connectivity and convenience. Positioned minutes from Aventura, Sunny Isles, and Eastern Shores, the property benefits from proximity to major retail, dining, and entertainment destinations. Easy access to I-95 ensures strong regional connectivity, while nearby public transportation options support tenant mobility. The surrounding neighborhood is a high-demand residential area, contributing to consistent occupancy and rental demand.
With its combination of stable income, desirable location, and updated features, this asset is well-suited for investors seeking long-term value in a thriving South Florida market.
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 | Parking Ratio | 1.63/1,000 SF |
| Zoning | 3800 - Multifamily | ||
| 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 |
| Parking Ratio | 1.63/1,000 SF |
| Zoning | 3800 - Multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Oven
- Sprinkler System
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Pool
- Property Manager on Site
- Trash Pickup - Curbside
- 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
Very walkable
80/100
Moderately drivable
60/100
Limited public transit
30/100
Moderately bikeable
70/100
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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