Victory Apartments 1999 NE 168th St 6 Unit Apartment Building $1,200,000 ($200,000/Unit) 4.57% Cap Rate Miami, FL 33162

Marcus & Millichap, as exclusive listing agent, is excited to bring to market Victory Apartments, a rare property consisting of one building situated on the corner of the intersection of NE 168th Street and NE 20th Avenue in the highly sought-after market of North Miami Beach, Florida.
The property is situated in a residential neighborhood and is conveniently located next to Victory Park Community Center which includes a large aquatic center with waterpark, sports courts and a large children’s playground area. Additionally, the City of North Miami Beach’s City Hall and its public services buildings including the Police Department, Fire Department and Chamber of Commerce are all very close to the property. Biscayne Boulevard (US 1) is four blocks to the east and provides residents with quick and easy access shopping, transportation, restaurants, entertainment venues and numerous employment centers. Northeast 163rd Street, just to the south, is a major east-west artery that travels through the county, and is also lined with every local, regional and national retailer and restaurant including Walmart, Home Depot, Ross, Publix Supermarket, etc., as well as provides quick access to Interstate 95, State Road 826 and Florida’s Turnpike. In addition, within a few blocks are Fulford Park, which features sports courts and a large open field, Judge Arthur Snyder Tennis Center and the North Miami Beach Recreational Park, which encompasses Mishcon Park, the SDG Soccer Complex and Snake Creek Park.
The property is comprised of one, two-story garden style apartment building, spread out on .13 acres of land. Built in 1963 of concrete block construction with a flat roof, which was just replaced (New Roof 2025). The unit mix consists of all one-bedroom, one-bath units. Two of the units have central air- conditioning and the remaining units have wall unit air-conditioners. Each unit features tile flooring throughout and separate hot-water heaters. The property has had the 40-year certification. All apartments are separately metered for electricity, while water and trash removal are included in the rent.
Victory Apartments should provide an investor the opportunity to increase revenue through the expiration of below-market leases. Additionally, the property is located in an excellent rental market with walkable amenities in the vibrant city of North Miami Beach.