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790 81st St 10 Unit Apartment Building $2,500,000 ($250,000/Unit) 5.57% Cap Rate Miami Beach, FL 33141

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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