1316 NE 105th St
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1316 NE 105th St
8 Unit Apartment Building $3,150,000 ($393,750/Unit) 5.20% Cap Rate Miami Shores, FL 33138
Investment Highlights
- Waterfront with new dock
- Strategic location right off of Biscayne Boulevard
- Spacious units
- Plentiful parking available
Executive Summary
Discover an exceptional opportunity to invest in an 8-unit waterfront apartment building nestled in Miami Shores Village. Situated in a prestigious A+ neighborhood, this property offers consistent rental income and promising long-term prospects.
Each of the eight units is equipped with modern amenities, including stainless-steel appliances, granite countertops, full kitchens, and a mix of travertine and hardwood flooring. The landscaping has been thoughtfully redesigned to minimize maintenance while preserving its charm.
Safety measures include hurricane shutters on all windows and impact-resistant doors throughout the property. Additionally, the subject property has undergone its 60-year recertification in 2023, ensuring compliance and longevity.
This property presents a promising opportunity to own a waterfront asset in a highly regarded Miami neighborhood, offering stability and potential for long-term growth.
Pro-forma Cap Rate is 6.45% (Pro-Forma NOI: $209,709). Please see attached OM for more detailed income information.
Each of the eight units is equipped with modern amenities, including stainless-steel appliances, granite countertops, full kitchens, and a mix of travertine and hardwood flooring. The landscaping has been thoughtfully redesigned to minimize maintenance while preserving its charm.
Safety measures include hurricane shutters on all windows and impact-resistant doors throughout the property. Additionally, the subject property has undergone its 60-year recertification in 2023, ensuring compliance and longevity.
This property presents a promising opportunity to own a waterfront asset in a highly regarded Miami neighborhood, offering stability and potential for long-term growth.
Pro-forma Cap Rate is 6.45% (Pro-Forma NOI: $209,709). Please see attached OM for more detailed income information.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$259,850
|
$26.68
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$97,763
|
$10.04
|
| Net Operating Income |
$162,087
|
$16.64
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $259,850 |
| Annual Per SF | $26.68 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $97,763 |
| Annual Per SF | $10.04 |
| Net Operating Income | |
|---|---|
| Annual | $162,087 |
| Annual Per SF | $16.64 |
Property Facts
| Price | $3,150,000 | Property Subtype | Apartment |
| Price Per Unit | $393,750 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 5.20% | Building Size | 9,740 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2022 |
| Price | $3,150,000 |
| Price Per Unit | $393,750 |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.32 AC |
| Building Size | 9,740 SF |
| No. Stories | 2 |
| Year Built | 2022 |
Unit Amenities
- Air Conditioning
- Kitchen
Site Amenities
- Waterfront
- Wi-Fi
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 900 - 1,250 |
| 2+2 | 2 | - | 1,600 |
| 2+1 | 1 | - | 1,540 |
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PROPERTY TAXES
| Parcel Number | 11-2232-027-0150 | Improvements Assessment | $1,485,825 (2024) |
| Land Assessment | $550,000 (2024) | Total Assessment | $2,035,825 (2024) |
PROPERTY TAXES
Parcel Number
11-2232-027-0150
Land Assessment
$550,000 (2024)
Improvements Assessment
$1,485,825 (2024)
Total Assessment
$2,035,825 (2024)
zoning
| Zoning Code | A-1 (A-1) |
| A-1 (A-1) |
-
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1316 NE 105th St
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