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MIAMI RIVER - T6-8 O - MULTIFAMILY 769 NW 10th St 5 Unit Apartment Building $1,647,555 CAD ($329,511 CAD/Unit) 7.25% Cap Rate Miami, FL 33136
INVESTMENT HIGHLIGHTS
- OUTSTANDING LOCATION NEAR RIVERSIDE
- AMAZING FUTURE DEVELOPMENT OPPORTUNITY WITTH T6-8 O ZONING
EXECUTIVE SUMMARY
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 , 3x 2-bedroom units and 1 x 1 bedroom unit. Totaling 10 bedrooms 5 bathrooms.
Current Operation: Mix of short term and Long-term tenants, projecting over $10,000 per month / $120,000 annually in gross rental income.
Zoning: T6-8-O, allowing for potential redevelopment or assemblage with adjacent properties.
Valuation: Property appraised at $1.4M in January 2025.
PROPERTY PREVIOUSLY OPERATED AS SHORT TERM RENTAL. NUMBERS REFLECTING 2024 AIRBNB OPERATIONS.
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 future development.
Investment Appeal:
This property provides stable and predictable income through its long-term tenant base while offering strong upside potential through zoning and redevelopment opportunities. With Riverside’s ongoing gentrification and its vibrant mix of high-end restaurants, luxury developments, and cultural landmarks, this asset presents a rare opportunity for investors seeking both stability and growth.
Property Highlights:
Unit Breakdown: A 3-bedroom single-family home , 3x 2-bedroom units and 1 x 1 bedroom unit. Totaling 10 bedrooms 5 bathrooms.
Current Operation: Mix of short term and Long-term tenants, projecting over $10,000 per month / $120,000 annually in gross rental income.
Zoning: T6-8-O, allowing for potential redevelopment or assemblage with adjacent properties.
Valuation: Property appraised at $1.4M in January 2025.
PROPERTY PREVIOUSLY OPERATED AS SHORT TERM RENTAL. NUMBERS REFLECTING 2024 AIRBNB OPERATIONS.
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 future development.
Investment Appeal:
This property provides stable and predictable income through its long-term tenant base while offering strong upside potential through zoning and redevelopment opportunities. With Riverside’s ongoing gentrification and its vibrant mix of high-end restaurants, luxury developments, and cultural landmarks, this asset presents a rare opportunity for investors seeking both stability and growth.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$174,447
|
$48.30
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$174,447
|
$48.30
|
| Taxes |
$16,800
|
$4.65
|
| Operating Expenses |
$39,043
|
$10.81
|
| Total Expenses |
$55,842
|
$15.46
|
| Net Operating Income |
$118,605
|
$32.84
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $174,447 |
| Annual Per SF | $48.30 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $174,447 |
| Annual Per SF | $48.30 |
| Taxes (CAD) | |
|---|---|
| Annual | $16,800 |
| Annual Per SF | $4.65 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $39,043 |
| Annual Per SF | $10.81 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $55,842 |
| Annual Per SF | $15.46 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $118,605 |
| Annual Per SF | $32.84 |
PROPERTY FACTS
| Price | $1,647,555 CAD | Building Class | C |
| Price Per Unit | $329,511 CAD | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 3,612 SF |
| Cap Rate | 7.25% | 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 | ||
| Zoning | T6-8-O - High density: Commercial , Residential or offices. | ||
| Price | $1,647,555 CAD |
| Price Per Unit | $329,511 CAD |
| Sale Type | Investment |
| Cap Rate | 7.25% |
| 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 |
| Zoning | T6-8-O - High density: Commercial , Residential or offices. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Eat-in Kitchen
SITE AMENITIES
- Courtyard
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $2,700 CAD | 600 |
| 3+1 | 1 | $3,669 CAD | 1,000 |
| 2+1 | 3 | $2,700 CAD | 600 |
1 1
Walk Score®
Very Walkable (73)
Transit Score®
Excellent Transit (75)
PROPERTY TAXES
| Parcel Number | 01-3135-027-0100 | Total Assessment | $836,843 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $16,800 CAD ($4.65 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
01-3135-027-0100
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$836,843 CAD
Annual Taxes
$16,800 CAD ($4.65 CAD/SF)
Tax Year
2025
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MIAMI RIVER - T6-8 O - MULTIFAMILY | 769 NW 10th St
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