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Regal Apartments 6020 NW 13th Ave 24 Unit Apartment Building $4,200,000 ($175,000/Unit) 8.01% Cap Rate Miami, FL 33142
Executive Summary
This stabilized, cash-flowing 24-unit multifamily
property sits on a 13,300 SF corner lot in Miami’s
urban core and has been fully renovated with new
roofing, updated kitchens and bathrooms, modern
flooring, and added amenities including a laundry
room and playground. Operating as a gated
community, it offers privacy, safety, and strong tenant
appeal, resulting in consistent occupancy and reliable
collections. With its 40-year recertification already
completed, the asset provides investors with a
turnkey, low-maintenance opportunity in a high
demand rental market.
property sits on a 13,300 SF corner lot in Miami’s
urban core and has been fully renovated with new
roofing, updated kitchens and bathrooms, modern
flooring, and added amenities including a laundry
room and playground. Operating as a gated
community, it offers privacy, safety, and strong tenant
appeal, resulting in consistent occupancy and reliable
collections. With its 40-year recertification already
completed, the asset provides investors with a
turnkey, low-maintenance opportunity in a high
demand rental market.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$496,668
|
$42.20
|
| Other Income |
$6,000
|
$0.51
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$502,668
|
$42.71
|
| Taxes |
$80,000
|
$6.80
|
| Operating Expenses |
$85,810
|
$7.29
|
| Total Expenses |
$165,810
|
$14.09
|
| Net Operating Income |
$336,858
|
$28.62
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $496,668 |
| Annual Per SF | $42.20 |
| Other Income | |
|---|---|
| Annual | $6,000 |
| Annual Per SF | $0.51 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $502,668 |
| Annual Per SF | $42.71 |
| Taxes | |
|---|---|
| Annual | $80,000 |
| Annual Per SF | $6.80 |
| Operating Expenses | |
|---|---|
| Annual | $85,810 |
| Annual Per SF | $7.29 |
| Total Expenses | |
|---|---|
| Annual | $165,810 |
| Annual Per SF | $14.09 |
| Net Operating Income | |
|---|---|
| Annual | $336,858 |
| Annual Per SF | $28.62 |
Property Facts
| Price | $4,200,000 | Building Class | C |
| Price Per Unit | $175,000 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 11,769 SF |
| Cap Rate | 8.01% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1958/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.27/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R-3 - Residential and Multifamily | ||
| Price | $4,200,000 |
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 8.01% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 11,769 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1958/2020 |
| Parking Ratio | 1.27/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-3 - Residential and Multifamily |
Amenities
Unit Amenities
- Tile Floors
Site Amenities
- Courtyard
- Laundry Facilities
- Playground
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | - | - |
| 2+1 | 6 | - | - |
Property Taxes
| Parcel Numbers | Total Assessment | $1,607,329 (2025) | |
| Land Assessment | $0 (2025) | Annual Taxes | $80,000 ($6.80/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Numbers
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$1,607,329 (2025)
Annual Taxes
$80,000 ($6.80/SF)
Tax Year
2024
Contacts
-
Vicente Rodriguez -
Christopher Canizares -
Carlos Fausto Miranda -
Fausto Commercial Realty Consultants
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Regal Apartments | 6020 NW 13th Ave
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