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419 78th St 7801 Byron Ave 7 Unit Apartment Building $1,995,000 ($285,000/Unit) 6.81% Cap Rate Miami Beach, FL 33141
Matterport 3D Tour
Investment Highlights
- Seven rebuilt units feature impact windows, modern electrical and plumbing systems, HVAC, insulation, flooring, and designer kitchens and bathrooms.
- Two blocks from the beach in one of Miami Beach’s most desirable neighborhoods, the property offers lifestyle appeal and strong rental demand.
- Total monthly cash flow reaches $15,450, including income from on-site laundry, with two units pending leases at $2,000 and $1,900 per month.
- 6.8% cap rate across seven units, combined with a $200K price cut, offers strong immediate returns and long-term upside.
Executive Summary
Explore a rare multifamily investment opportunity at 7801 Byron Avenue and 419 78th Street, just two blocks from Miami Beach. Fully gutted and rebuilt, this seven-unit property offers a 6.8% cap rate and immediate cash flow for discerning investors. With four one-bedroom, one-bathroom units and three two-bedroom, one-bathroom units, the property has been fully renovated with impact windows, new electrical systems, plumbing, HVAC, insulation, flooring, kitchens, appliances, and designer bathrooms. On-site laundry adds $450 per month in income, and with zero deferred maintenance, this is a turnkey asset ready for investors.
Two units are pending leases at $2,000 per month for 419 78th Street, Unit 1, and $1,900 per month for 7801 Byron Avenue, Unit B, set to be rented by closing with no concessions. Total cash flow reaches $15,450 per month, making this a high-performing income property in one of Miami Beach’s most desirable neighborhoods.
Steps from the beach, this offering delivers a prime Miami Beach location with modern upgrades and an alluring $200,000 price reduction. With premium finishes, fully renovated units, and strong rental demand, this seven-unit multifamily is a rare turnkey investment offering immediate returns and long-term appreciation potential.
Two units are pending leases at $2,000 per month for 419 78th Street, Unit 1, and $1,900 per month for 7801 Byron Avenue, Unit B, set to be rented by closing with no concessions. Total cash flow reaches $15,450 per month, making this a high-performing income property in one of Miami Beach’s most desirable neighborhoods.
Steps from the beach, this offering delivers a prime Miami Beach location with modern upgrades and an alluring $200,000 price reduction. With premium finishes, fully renovated units, and strong rental demand, this seven-unit multifamily is a rare turnkey investment offering immediate returns and long-term appreciation potential.
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Financial Summary (Pro Forma - 2025) 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 |
$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 (Pro Forma - 2025) 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 | $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 | $1,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $285,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 6.81% | Building Size | 4,387 SF |
| No. Units | 7 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1939/2025 |
| Zoning | RM-1-30 - Multifamily | ||
| Price | $1,995,000 |
| Price Per Unit | $285,000 |
| Sale Type | Investment |
| Cap Rate | 6.81% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 4,387 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built/Renovated | 1939/2025 |
| Zoning | RM-1-30 - Multifamily |
Amenities
Unit Amenities
- Washer/Dryer
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,975 | 450 - 550 |
| 2+1 | 3 | $2,400 | 600 - 1,000 |
Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (77)
Property Taxes
| Parcel Number | 02-3202-007-1140 | Total Assessment | $1,380,400 |
| Land Assessment | $678,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $702,400 | Tax Year | 2025 |
Property Taxes
Parcel Number
02-3202-007-1140
Land Assessment
$678,000
Improvements Assessment
$702,400
Total Assessment
$1,380,400
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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419 78th St | 7801 Byron Ave
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