Listed by Russo Properties
$2,495,000
535 73rd Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,450
Net Rentable (SqFt) 5,450
Units 8
Cap Rate 5%
NOI $124,626
Occupancy 100%
Tenancy Multi
Pro-Forma NOI $142,026
Year Built 1954
Year Renovated 2023
Lot Size (SqFt) 6,500
Multifamily | 5.00% CAP | 8 Units
Marketing description
This offering presents the opportunity to purchase a unique, charming and turnkey graden multifamily asset located 2 blocks from the beach, downtown North Beach and direclty in front of the rec center!
This building features 8 large, open format remodeled 1 bedroom 1 bathroom apartments with open concept kitchens. This property has been meticulously owner operated and rented out to long-term tenants. Historic 0% vacancy with very high rental demand!
Investment highlights
- Favorable unit mix: 8x large 1 Bedroom 1 Bathrooms with open-concept kitchens
- Full hurricane proof doors, windows & locks
- All units remodeled with open-concept kitchen, real hardwood flooring
- Private garden area
- Onsite laundry with proximate laundromat
- Roof redone in 2023
- Long-term, fully back-ground & credit checked tenants
- Historic 100% occupancy and collections
- Centrally located in booming North Beach, undergoing a radical transformation
- Fully gated & enclosed property with controlled keypad access
- Long-time onsite manager & maintenance living on property, paying $1,500 and handling maintenance, unit turnover
- OWNER FINANCING AVAILABLE
Listing Contacts
Listed by Russo Properties
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$124,626.00
$10,385.50/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
Map
Zoning
RM-1 ResidentialMulti FamilyResidential Multifamily Low Intensity
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View all 29 uses
View all 29 uses Last updated May 25, 2026 For deeper zoning details, reports are available at Zoneomics
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Tax History
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