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Marcus & Millichap Brokers $1.065M Sale Of Victory Apartments In North Miami Beach

Property Image
SOLD
$1,065,000

Florida

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MultiFamily
Sold 07/23/2025
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Property Image
SOLD

Marcus & Millichap Brokers $1.065M Sale Of Victory Apartments In North Miami Beach

1999 Northeast 168th Street

See Similar Deals
MultiFamily
Sold 07/23/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The sale of Victory Apartments, a multifamily property located at 1999 Northeast 168th Street in North Miami Beach, was recently completed. The asset consists of six one-bedroom units and is situated on a 0.13-acre lot. This property was built in 1963 and has undergone notable updates including a recent roof replacement, which presents potential rental upside for investors.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,065,000
  • Units: 6
  • Price Per Unit: $177,500
  • Broker: Brandon Rex - Marcus & Millichap
  • Date of Transaction: 07/23/2025
  • Market: North Miami Beach
  • Acres: 0.13

Brandon Rex of Marcus & Millichap represented the seller in this transaction, facilitating the deal for the multifamily property adjacent to Victory Park. The broker's expertise in the North Miami Beach market contributed to the successful completion of this transaction.

Players

Brandon Rex
Marcus & Millichap
Brandon Rex
25 deals$191.8M volume
BROKER

Details

SOLD
IMAGE: Brandon Rex DATE: 07/23/2025 ADDRESS: 1999 Northeast 168th Street MARKET: North Miami Beach ASSET TYPE: Multifamily ~ ACRES: 0.13 BROKER: Brandon Rex - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $1,065,000 UNITS: 6 ~ PPU: $177,500 NOTE: Marcus & Millichap brokered the $1.065 million sale of Victory Apartments, a six-unit multifamily property at 1999 NE 168th Street in North Miami Beach. The 1963-built, one-bedroom-unit building sits next to Victory Park and offers rental upside following a recent roof replacement.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$56,800.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,783.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,048.64
Annual Debt Service$60,583.72