The SeaSide Suites Miami Beach | 7936 Harding Ave
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The SeaSide Suites Miami Beach 7936 Harding Ave
8 Unit Apartment Building $2,400,000 ($300,000/Unit) 4.93% Cap Rate Miami Beach, FL 33141
Investment Highlights
- Exceptional Hotel Opportunity
- All Units Fully Renovated
- Just 3 blocks North of Town Center
- One Block to Park and Beach
- Addditional Land for More Units
- Beautiful Art Deco Trophy Building
Executive Summary
The SeaSide Suites are unique because they offer the investor multiple plays. These include repositioning the property as a Short-Term Rental Hotel, constructing additional units in the rear yard, and/or raising rents to market prices. The Suites are perennially 100% occupied providing the owner/investor with steady income while new units are constructed or the requirements for Short-Term Rentals are completed.
Each of the eight Suites has been lovingly restored and meticulously maintained- both inside and out. All Suites contain full kitchens and private baths- all renovated with new central A/C, electrical and plumbing systems, fixtures and finishes, a new roof, and impact windows and doors.
The Seaside Suites boast a spectacular location in Miami Beach just one block from the North Shore Open Space Park (36 acres) and one of the world’s most famous beaches. It lies tucked in a quiet residential neighborhood that is just three blocks from the commercial center of North Beach.
Suite Hotels have become the “go-to” destinations for vacationers, business travelers, and those seeking a non-traditional hotel experience. Seaside Suites are located within the Harding Avenue Overlay District (Route 1) permitting Short Term Rentals and offers eight stand-alone Suites.
This is a truly turn-key asset with minimal improvements required for Hotel status. See attached OM for additional information.
Each of the eight Suites has been lovingly restored and meticulously maintained- both inside and out. All Suites contain full kitchens and private baths- all renovated with new central A/C, electrical and plumbing systems, fixtures and finishes, a new roof, and impact windows and doors.
The Seaside Suites boast a spectacular location in Miami Beach just one block from the North Shore Open Space Park (36 acres) and one of the world’s most famous beaches. It lies tucked in a quiet residential neighborhood that is just three blocks from the commercial center of North Beach.
Suite Hotels have become the “go-to” destinations for vacationers, business travelers, and those seeking a non-traditional hotel experience. Seaside Suites are located within the Harding Avenue Overlay District (Route 1) permitting Short Term Rentals and offers eight stand-alone Suites.
This is a truly turn-key asset with minimal improvements required for Hotel status. See attached OM for additional information.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$162,000
|
$33.31
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$162,000
|
$33.31
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$43,564
|
$8.96
|
| Net Operating Income |
$118,436
|
$24.35
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $162,000 |
| Annual Per SF | $33.31 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $162,000 |
| Annual Per SF | $33.31 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $43,564 |
| Annual Per SF | $8.96 |
| Net Operating Income | |
|---|---|
| Annual | $118,436 |
| Annual Per SF | $24.35 |
Property Facts
| Price | $2,400,000 | Apartment Style | Low Rise |
| Price Per Unit | $300,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 4.93% | Building Size | 4,864 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1939 |
| Price | $2,400,000 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 4.93% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 4,864 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1939 |
Unit Amenities
- Air Conditioning
- Cable Ready
- Granite Countertops
- Hardwood Floors
- Yard
- Handrails
- Instant Hot Water
- Patio
Site Amenities
- Controlled Access
- Courtyard
- Fenced Lot
- Picnic Area
- Furnished Units Available
- Gas Range
- Vintage Building
- Bicycle Storage
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
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Walk Score ®
Very Walkable (79)
Bike Score ®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 02-3202-007-0490 | Improvements Assessment | $271,941 |
| Land Assessment | $1,650,000 | Total Assessment | $1,921,941 |
PROPERTY TAXES
Parcel Number
02-3202-007-0490
Land Assessment
$1,650,000
Improvements Assessment
$271,941
Total Assessment
$1,921,941
zoning
| Zoning Code | RM-1 (Residential/Multifamily, Low Intensity. Suite Hotels are a MAIN PERMITTED USE along this stretch of Harding Avenue.) |
| RM-1 (Residential/Multifamily, Low Intensity. Suite Hotels are a MAIN PERMITTED USE along this stretch of Harding Avenue.) |
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The SeaSide Suites Miami Beach | 7936 Harding Ave
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