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Biscayne Gardens Villas 60 NW 161st St 8 Unit Apartment Building $2,155,000 ($269,375/Unit) 6.14% Cap Rate Miami, FL 33169
Investment Highlights
- Attractive duplex-style layout across 4 buildings with clean central courtyard, low operational intensity and ideal for 1031 Exchange
- Highly financeable asset w/ stabilized in-place income, half from market tenants and half from Section 8 tenants
- Optional value-add for the interiors of 4 of the units, with 4 units already freshly remodeled with stainless steel appliances and modern finishes
- Diversified unit mix features (6) 1 BR units & (2) 2 BR units, all oversized with an average of 700 SF for the 1 BR units and 900 SF for the 2 BR unit
- Long-term structural durability with buildings featuring 40-Year Recertifications, new roofs as of 2017, tile floors, impact glass, and central A/C
- Convenient on-site parking for 8 vehicles with additional street parking nearby
Executive Summary
THE ALPHA COMMERCIAL ADVISORS™ IS PLEASED TO PRESENT BISCAYNE GARDENS VILLAS, AN 8-UNIT DUPLEX-STYLE MULTIFAMILY COMPOUND OFFERING A STABILIZED, LOW-MAINTENANCE INVESTMENT SUPPORTED BY STRONG IN-PLACE INCOME AND DURABLE BUILDING CONDITION.
Sporting a balanced unit mix of six 1 BR / 1 Bath units and two 2 BR / 1 Bath units, half of the units feature full interior renovations and the rest are primed for optional light-value-add upgrades, providing both immediate stability and clear operational upside.
Full property renovation and long-term durability includes pristine grounds, impact glass, central A/C, tiled floors, new roof as of 2017, and completed 40-year recertification, while 50% Section 8 tenancy delivers highly subsidized, reliable cash flow. Positioned within a quiet residential pocket experiencing new construction activity within a block, the property benefits from steady demand and its proximity to the major North Miami Beach NE 167th/NE 163rd ST commercial corridor and the Golden Glades Interchange
for unmatched connectivity to the entire region.
Sporting a balanced unit mix of six 1 BR / 1 Bath units and two 2 BR / 1 Bath units, half of the units feature full interior renovations and the rest are primed for optional light-value-add upgrades, providing both immediate stability and clear operational upside.
Full property renovation and long-term durability includes pristine grounds, impact glass, central A/C, tiled floors, new roof as of 2017, and completed 40-year recertification, while 50% Section 8 tenancy delivers highly subsidized, reliable cash flow. Positioned within a quiet residential pocket experiencing new construction activity within a block, the property benefits from steady demand and its proximity to the major North Miami Beach NE 167th/NE 163rd ST commercial corridor and the Golden Glades Interchange
for unmatched connectivity to the entire region.
Property Facts
| Price | $2,155,000 | Building Class | C |
| Price Per Unit | $269,375 | Lot Size | 0.43 AC |
| Sale Type | Investment | Building Size | 5,973 SF |
| Cap Rate | 6.14% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.34/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RU-1 - Multi-family | ||
| Price | $2,155,000 |
| Price Per Unit | $269,375 |
| Sale Type | Investment |
| Cap Rate | 6.14% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 5,973 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1968 |
| Parking Ratio | 1.34/1,000 SF |
| Zoning | RU-1 - Multi-family |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 700 |
| 2+1 | 2 | - | 900 |
Property Taxes
| Parcel Number | 30-2113-002-0410 | Improvements Assessment | $889,198 |
| Land Assessment | $344,322 | Total Assessment | $1,233,520 |
Property Taxes
Parcel Number
30-2113-002-0410
Land Assessment
$344,322
Improvements Assessment
$889,198
Total Assessment
$1,233,520
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Biscayne Gardens Villas | 60 NW 161st St
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