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128 NW 9th Avenue 6 Unit Apartment Building $1,674,240 CAD ($279,040 CAD/Unit) 4.52% Cap Rate Miami, FL 33128
INVESTMENT HIGHLIGHTS
- Diverse unit mix of studios, two-bedroom, and three-bedroom units
- Less than a mile from LoanDepot Stadium
- Just one block North of West Flagler Street
- Close proximity to parks, schools and major employment drivers
- Just three blocks West of the Miami River
- Ability to increase rental income
EXECUTIVE SUMMARY
128 NW 9th Avenue is an exceptionally located multifamily property in the vibrant heart of Miami’s central district. This six-unit building offers a diverse unit mix of studios, two-bedroom, and three-bedroom units. With 12 individual tenants across the six units, the property effectively operates with up to 12 separate rent-paying occupants, reducing income volatility and maintaining stability even if a room becomes vacant in a fluctuating market.
Located just three blocks from the scenic Miami River and less than a mile from LoanDepot Stadium, the property benefits from proximity to major employment hubs and entertainment venues. Positioned only one block north of Flagler Street—a primary arterial road—residents enjoy easy access to public transit, shopping, dining, and vibrant nightlife. The property is also located within a block of several neighborhood amenities including Henderson Park and the Victoria Nursing & Rehabilitation Center.
With strong location fundamentals, a solid tenant mix, and a sizable 4,600 square foot lot, 128 NW 9th Avenue offers significant upside potential through rent growth and operational enhancements. This makes it an attractive value-add opportunity for investors looking to capitalize on Miami’s thriving multifamily market.
Located just three blocks from the scenic Miami River and less than a mile from LoanDepot Stadium, the property benefits from proximity to major employment hubs and entertainment venues. Positioned only one block north of Flagler Street—a primary arterial road—residents enjoy easy access to public transit, shopping, dining, and vibrant nightlife. The property is also located within a block of several neighborhood amenities including Henderson Park and the Victoria Nursing & Rehabilitation Center.
With strong location fundamentals, a solid tenant mix, and a sizable 4,600 square foot lot, 128 NW 9th Avenue offers significant upside potential through rent growth and operational enhancements. This makes it an attractive value-add opportunity for investors looking to capitalize on Miami’s thriving multifamily market.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$160,727
|
$51.35
|
| Other Income |
$837
|
$0.27
|
| Vacancy Loss |
$8,036
|
$2.57
|
| Effective Gross Income |
$153,528
|
$49.05
|
| Taxes |
$22,023
|
$7.04
|
| Operating Expenses |
$55,904
|
$17.86
|
| Total Expenses |
$77,928
|
$24.90
|
| Net Operating Income |
$75,600
|
$24.15
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $160,727 |
| Annual Per SF | $51.35 |
| Other Income (CAD) | |
|---|---|
| Annual | $837 |
| Annual Per SF | $0.27 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $8,036 |
| Annual Per SF | $2.57 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $153,528 |
| Annual Per SF | $49.05 |
| Taxes (CAD) | |
|---|---|
| Annual | $22,023 |
| Annual Per SF | $7.04 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $55,904 |
| Annual Per SF | $17.86 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $77,928 |
| Annual Per SF | $24.90 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $75,600 |
| Annual Per SF | $24.15 |
PROPERTY FACTS
| Price | $1,674,240 CAD | Property Subtype | Apartment |
| Price Per Unit | $279,040 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.52% | Lot Size | 0.11 AC |
| Gross Rent Multiplier | 10.42 | Building Size | 3,130 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1925 |
| Zoning | T4-R | ||
| Price | $1,674,240 CAD |
| Price Per Unit | $279,040 CAD |
| Sale Type | Investment |
| Cap Rate | 4.52% |
| Gross Rent Multiplier | 10.42 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,130 SF |
| No. Stories | 2 |
| Year Built | 1925 |
| Zoning | T4-R |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Ceiling Fans
- Oven
- Smoke Free
SITE AMENITIES
- 24 Hour Access
- Security System
- Tenant Controlled HVAC
- Wheelchair Accessible
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | $1,291 CAD | 350 |
| 2+1 | 1 | $2,093 CAD | 550 |
| 3+1 | 2 | $2,860 CAD | 600 |
| 3+2 | 1 | $3,000 CAD | 680 |
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Walk Score®
Very Walkable (85)
Transit Score®
Excellent Transit (75)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 01-4138-003-0720 | Total Assessment | $1,152,459 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $22,023 CAD ($7.04 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
01-4138-003-0720
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,152,459 CAD
Annual Taxes
$22,023 CAD ($7.04 CAD/SF)
Tax Year
2025
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128 NW 9th Avenue
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