790 81st St - Apartments FOR SALE


Miami Beach, FL 33141- Biscayne Beach | 
$2,500,000 USD
305-510-6627
790 81st St, Miami Beach, FL for Sale
$2,500,000 USD
Apartments - FOR SALE
1/20
null | 5.57% Cap Rate

790 81st St
Miami Beach, FL 33141
Biscayne Beach


HIGHLIGHTS

  • 10-unit North Beach Miami Beach apartment building for sale — $2,500,000 ($250K/unit) | 33141
  • 5.57% cap rate on $139,314 NOI — $206,040 gross rent with a stable tenant base
  • Seller financing: up to 70% LTV, interest-only at 6% with windstorm insurance, 7% without
  • Ten oversized 1BR/1BA units (700+ SF each) — separate electric and individual water heaters
  • Value-add upside via interior renovations and rent repositioning; flexible leases allow phased upgrades
  • 1958 two-story classic Miami Beach building | 8,446 SF on a 5,650 SF lot in supply-constrained North Beach

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$296 USD /SF

# OF UNITS

10

PRICE/UNIT

$250,000

CAP RATE

5.57%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

RM-1

APN/PARCEL ID

02-3202-008-0540

ASK ABOUT THIS PROPERTY

Vicente RodriguezFausto Commercial Realty ConsultantsMore Info
305-510-6627

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Vicente RodriguezFausto Commercial Realty ConsultantsMore Info
305-510-6627

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.