710 7th St | Miami Beach, FL 33139
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- LoopNet Team
710 7th St
Miami Beach, FL 33139
Miami Beach 16 Units Great Location · Multifamily Property For Sale · 16 Units
Investment Highlights
- High-demand location in the heart of South Beach just four blocks from world-famous Collins Avenue, Ocean Drive, and the beach.
- Significant upside with the rents being below market for the area and some units that will improve the asset value with a strategic renovation plan.
- Miami is home to one of the busiest international airports in the world and one of the largest ports in the United States for cruise and cargo.
- The population within a five-mile radius exceeds 247,000 with an average household income of more than $91,000.
- 93.75%-occupied with a current NOI of $126,000 and a projected/proforma NOI of $184,000.
- Major employers in the area include the University of Miami, Baptist Health South Florida, Publix Supermarkets, American Airlines, and more.
PROPERTY FACTS
| No. Units | 16 | Lot Size | 0.16 AC |
| Property Type | Multifamily | Building Size | 7,138 SF |
| Property Subtype | Apartment | Average Occupancy | 94% |
| Apartment Style | Low Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1957 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 7,138 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1957 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 14 | - | 436 |
| 1+1 | 2 | - | 550 |
PROPERTY TAXES
| Parcel Number | 02-4203-009-3220 | Improvements Assessment | $1,251,000 |
| Land Assessment | $1,449,000 | Total Assessment | $2,700,000 |
PROPERTY TAXES
Parcel Number
02-4203-009-3220
Land Assessment
$1,449,000
Improvements Assessment
$1,251,000
Total Assessment
$2,700,000
zoning
| Zoning Code | RM-1 (Residential Multi-Family, Low Density District) |
| RM-1 (Residential Multi-Family, Low Density District) |
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