Log In/Sign Up
Your email has been sent.
790 81st St 10 Unit Apartment Building $2,500,000 ($250,000/Unit) 5.57% Cap Rate Miami Beach, FL 33141
Investment Highlights
- 5.57% cap rate at list price with additional upside through renovations
- Separate electric and gas meters reduce operating expenses.
- Significant value-add potential through interior upgrades.
- Ten large 1-bed/1-bath units averaging 700+ rentable square feet.
- Strong rental demand in highly walkable North Beach.
- Located near major redevelopment zones and the North Beach Town Center District.
Executive Summary
Fausto Commercial is proud to present Seven90 Apartments, a 10-unit multifamily asset located in the highly walkable North Beach district of Miami Beach. Built in 1958, the property consists of a two-story building positioned between Hawthorne Avenue and Crespi Boulevard, just steps from the Tatum Waterway and minutes from the ocean. The building features ten large one-bed/one-bath units, each approximately 700+ square feet, with separate electric and gas meters, individual water heaters, and classic Miami Beach architectural charm. While the property has received selective updates, it still offers strong value-add upside through modernization and strategic rent increases. The surrounding area is benefiting from major public and private investment, including the North Beach Town Center District and several large-scale redevelopment projects, supporting long-term rent growth and appreciation. •Stable tenant base with flexible lease structure for rent growth. Steps from Tatum Waterway, Collins Ave, Harding Ave, and the Atlantic Ocean
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$204,000
|
$24.15
|
| Other Income |
$2,500
|
$0.30
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$206,500
|
$24.45
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$54,951
|
$6.51
|
| Net Operating Income |
$151,549
|
$17.94
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $204,000 |
| Annual Per SF | $24.15 |
| Other Income | |
|---|---|
| Annual | $2,500 |
| Annual Per SF | $0.30 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $206,500 |
| Annual Per SF | $24.45 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $54,951 |
| Annual Per SF | $6.51 |
| Net Operating Income | |
|---|---|
| Annual | $151,549 |
| Annual Per SF | $17.94 |
Property Facts
| Price | $2,500,000 | Building Class | C |
| Price Per Unit | $250,000 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 8,446 SF |
| Cap Rate | 5.57% | Average Occupancy | 90% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 1.18/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-1 - Zoning RM-1, 3900 Residential Multifamily Low Intensity District by the city of Miami Beach, FL | ||
| Price | $2,500,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 5.57% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 8,446 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 1.18/1,000 SF |
| Zoning | RM-1 - Zoning RM-1, 3900 Residential Multifamily Low Intensity District by the city of Miami Beach, FL |
Amenities
Unit Amenities
- Garden
Site Amenities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $1,700 | 844 |
Property Taxes
| Parcel Number | 02-3202-008-0540 | Improvements Assessment | $1,111,500 (2025) |
| Land Assessment | $508,500 (2025) | Total Assessment | $1,620,000 (2025) |
Property Taxes
Parcel Number
02-3202-008-0540
Land Assessment
$508,500 (2025)
Improvements Assessment
$1,111,500 (2025)
Total Assessment
$1,620,000 (2025)
Contacts
-
Vicente Rodriguez -
Christopher Canizares -
Fausto Commercial Realty Consultants
1 of 21
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
790 81st St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.