Fausto Commercial Realty presents Seven90 Apartments at 790 81st Street, a 10-unit Miami Beach apartment building for sale in the heart of North Beach (ZIP 33141), one of the city's most supply-constrained and fast-changing coastal submarkets. The property is offered at $2,500,000 ($250,000 per unit) with seller financing available, which is rare for a Miami Beach multifamily investment of this size.
Built in 1958, the two-story, 8,446 SF building sits on a 5,650 SF lot and features ten oversized one-bedroom / one-bath apartments of 700+ SF each. Separate electric meters, individual water heaters, and classic Miami Beach architectural character give investors a strong operating foundation that is rarely found at this scale.
In-Place Income: The property generates $206,040 in gross rent. After operating expenses of $66,726, it produces NOI of $139,314, a 5.57% cap rate with a stable tenant base.
Value-Add Upside: Some upgrades are already complete, and a new owner can grow NOI further through interior renovations and rent repositioning. The flexible lease structure allows a phased value-add strategy with limited disruption to tenants.
Seller Financing / Owner Financing Terms:
Up to 70% LTV, interest-only
6% rate with windstorm insurance
7% rate without windstorm insurance
For investors searching for Miami Beach multifamily with owner financing, Seven90 offers in-place cash flow, value-add upside, and attractive financing in a coastal market with limited new supply.