769 NW 10th St
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769 NW 10th St
5 Unit Apartment Building $1,590,000 ($318,000/Unit) 6.42% Cap Rate Miami, FL 33136
Investment Highlights
- Sold with AIRBNB Account and bookings For immediate income and Continuous performance.
- OUTSTANDING LOCATION NEAR RIVERSIDE
- AMAZING FUTURE DEVELOPMENT OPPORTUNITY WITTH T6-8 O ZONING
Executive Summary
LISTING DESCRIPTION
Discover an exceptional investment opportunity in the heart of Miami's thriving Riverside neighborhood. This charming multifamily property boasts T6-8-O zoning, offering incredible development potential alongside immediate cash flow.
Property Highlights:
- Unit Breakdown: A 3-bedroom single-family home and four 1-bedroom units.
- Current Operation: Highly successful Airbnb short-term rental, generating $170,000+ annually and over $220,000 in 2022.
- Each Unit has over 500 airbnb reviews, Totaling close to 3000 reviews for the whole property.
- Net Income: $100,000+ per year.
- Future Bookings: More than $50,000 in confirmed bookings included with the sale
- Zoning: T6-8-O, allowing for potential redevelopment or assemblage with adjacent properties.
Prime Location: Nestled in Miami's vibrant Riverside neighborhood, this property offers easy access to Wynwood, Brickell, Little Havana, and the Design District, with Miami International Airport and Port of Miami just minutes away. Walking distance to the Health District and close to major highways, it's ideally positioned for both residents and visitors alike.
Investment Appeal: This turnkey property delivers immediate income with its proven short-term rental success and 4.9-star guest satisfaction rating. The Riverside area’s ongoing gentrification, coupled with its vibrant mix of high-end restaurants, luxury developments, and cultural landmarks, makes this property a rare gem for investors seeking both stability and future growth potential.
Whether you're looking to expand your real estate portfolio, capitalize on a booming rental market, or explore redevelopment opportunities, this property is your chance to own a piece of Miami's exciting future.
Discover an exceptional investment opportunity in the heart of Miami's thriving Riverside neighborhood. This charming multifamily property boasts T6-8-O zoning, offering incredible development potential alongside immediate cash flow.
Property Highlights:
- Unit Breakdown: A 3-bedroom single-family home and four 1-bedroom units.
- Current Operation: Highly successful Airbnb short-term rental, generating $170,000+ annually and over $220,000 in 2022.
- Each Unit has over 500 airbnb reviews, Totaling close to 3000 reviews for the whole property.
- Net Income: $100,000+ per year.
- Future Bookings: More than $50,000 in confirmed bookings included with the sale
- Zoning: T6-8-O, allowing for potential redevelopment or assemblage with adjacent properties.
Prime Location: Nestled in Miami's vibrant Riverside neighborhood, this property offers easy access to Wynwood, Brickell, Little Havana, and the Design District, with Miami International Airport and Port of Miami just minutes away. Walking distance to the Health District and close to major highways, it's ideally positioned for both residents and visitors alike.
Investment Appeal: This turnkey property delivers immediate income with its proven short-term rental success and 4.9-star guest satisfaction rating. The Riverside area’s ongoing gentrification, coupled with its vibrant mix of high-end restaurants, luxury developments, and cultural landmarks, makes this property a rare gem for investors seeking both stability and future growth potential.
Whether you're looking to expand your real estate portfolio, capitalize on a booming rental market, or explore redevelopment opportunities, this property is your chance to own a piece of Miami's exciting future.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$168,277
|
$46.59
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$168,277
|
$46.59
|
| Taxes |
$12,134
|
$3.36
|
| Operating Expenses |
$49,932
|
$13.82
|
| Total Expenses |
$62,066
|
$17.18
|
| Net Operating Income |
$106,211
|
$29.41
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $168,277 |
| Annual Per SF | $46.59 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $168,277 |
| Annual Per SF | $46.59 |
| Taxes | |
|---|---|
| Annual | $12,134 |
| Annual Per SF | $3.36 |
| Operating Expenses | |
|---|---|
| Annual | $49,932 |
| Annual Per SF | $13.82 |
| Total Expenses | |
|---|---|
| Annual | $62,066 |
| Annual Per SF | $17.18 |
| Net Operating Income | |
|---|---|
| Annual | $106,211 |
| Annual Per SF | $29.41 |
Property Facts
| Price | $1,590,000 | Building Class | C |
| Price Per Unit | $318,000 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 3,612 SF |
| Cap Rate | 6.42% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1924/2021 |
| Property Subtype | Apartment | Parking Ratio | 1.11/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,590,000 |
| Price Per Unit | $318,000 |
| Sale Type | Investment |
| Cap Rate | 6.42% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,612 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1924/2021 |
| Parking Ratio | 1.11/1,000 SF |
Unit Amenities
- Air Conditioning
- Eat-in Kitchen
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 600 |
| 3+1 | 1 | - | 1,000 |
| 2+1 | 1 | - | 600 |
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Transit Score ®
Excellent Transit (75)
PROPERTY TAXES
| Parcel Number | 01-3135-027-0100 | Total Assessment | $539,169 (2024) |
| Land Assessment | $0 (2024) | Annual Taxes | $12,134 ($3.36/SF) |
| Improvements Assessment | $0 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
01-3135-027-0100
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$539,169 (2024)
Annual Taxes
$12,134 ($3.36/SF)
Tax Year
2023
zoning
| Zoning Code | T6-8-O (High density: 8 stories possible Commercial , Residential or offices.) |
| T6-8-O (High density: 8 stories possible Commercial , Residential or offices.) |
-
Thomas Bichi -
Keller Williams Miami Beach Realty
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769 NW 10th St
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