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Northridge Apartments 18101 NW 7th Ave 32 Unit Apartment Building $10,050,088 CAD ($314,065 CAD/Unit) 6.26% Cap Rate Miami, FL 33169
Investment Highlights
- 32-Unit Multifamily Property in Miami Gardens
- Value-add opportunity through future rent growth and operational improvements
- 100% occupied with strong in-place tenancy
Executive Summary
32-unit multifamily property located at 18101 NW 7th Avenue in Miami Gardens, Florida. The property features a unit mix of 23 two-bedroom / one-bath units and 9 one-bedroom / one-bath units situated on just over one acre of land. The building is currently fully occupied and provides stable in-place income with the potential for future rent growth.
The property offers more than 50 on-site parking spaces and benefits from strong demand for workforce housing in the Miami Gardens submarket. Located along NW 7th Avenue with convenient access to major corridors including the Palmetto Expressway and I-95, the property is positioned near retail centers, employment hubs, and public transportation.
The offering presents an opportunity for investors seeking a stabilized multifamily asset with long-term upside through operational improvements and market rent adjustments in a high-demand rental market.
The property offers more than 50 on-site parking spaces and benefits from strong demand for workforce housing in the Miami Gardens submarket. Located along NW 7th Avenue with convenient access to major corridors including the Palmetto Expressway and I-95, the property is positioned near retail centers, employment hubs, and public transportation.
The offering presents an opportunity for investors seeking a stabilized multifamily asset with long-term upside through operational improvements and market rent adjustments in a high-demand rental market.
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Property Facts
| Price | $10,050,088 CAD | Building Class | C |
| Price Per Unit | $314,065 CAD | Lot Size | 1.08 AC |
| Sale Type | Investment | Building Size | 23,635 SF |
| Cap Rate | 6.26% | Average Occupancy | 100% |
| No. Units | 32 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 2.24/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RU-5 - Residential Urban | ||
| Price | $10,050,088 CAD |
| Price Per Unit | $314,065 CAD |
| Sale Type | Investment |
| Cap Rate | 6.26% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.08 AC |
| Building Size | 23,635 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 2.24/1,000 SF |
| Zoning | RU-5 - Residential Urban |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | 750 |
| 2+1 | 23 | - | 1,000 |
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Walk Score®
Very Walkable (75)
Property Taxes
| Parcel Number | 34-2112-003-0370 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $4,482,991 CAD |
Property Taxes
Parcel Number
34-2112-003-0370
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$4,482,991 CAD
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Northridge Apartments | 18101 NW 7th Ave
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