South Beach Multifamily | 900 Pennsylvania Ave
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South Beach Multifamily 900 Pennsylvania Ave
14 Unit Apartment Building $3,950,000 ($282,143/Unit) Miami Beach, FL 33139
Investment Highlights
- 14-unit multifamily building in the heart of South Beach, Miami, with value-add opportunity through raising rents.
- Population within a 5-mile radius has steadily grown over the past decade, with average household incomes surpassing $102,000 annually.
- South Beach offers many amenities, such as access to Interstate 195 and a vibrant food, entertainment, and shopping scene.
- This is the ideal submarket for investors as 70% of residents in the area rent rather than own their homes.
Executive Summary
Excellent opportunity for 14 units of multifamily property in South Beach, FL. It has high-demand location and great income opportunity in the heart of Miami Beach. The locations is only 3 blocks from world famous Ocean Drive and the beach. It includes separate electric and gas meter. It has historically high occupancy and is consistenly fully occuppied. A total of 14 units, all renovated (some partially). Minutes from shopping, dining, and entertainment, this property offers a compelling income opportunity in a sought-after location. Please Call/Email Lira at 561-406-0906 | frassistant1@gmail.com for the offering memorandum and more information. Showings only upon an acceptable offer.
Property Facts
| Price | $3,950,000 | Building Class | C |
| Price Per Unit | $282,143 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 8,502 SF |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1936 |
| Property Subtype | Apartment | Parking Ratio | 0.35/1,000 SF |
| Apartment Style | Low Rise |
| Price | $3,950,000 |
| Price Per Unit | $282,143 |
| Sale Type | Investment |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 8,502 SF |
| No. Stories | 2 |
| Year Built | 1936 |
| Parking Ratio | 0.35/1,000 SF |
Unit Amenities
- Refrigerator
- Oven
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Walk Score ®
Walker's Paradise (96)
Bike Score ®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 02-4203-009-1320 | Improvements Assessment | $1,551,000 |
| Land Assessment | $1,449,000 | Total Assessment | $3,000,000 |
PROPERTY TAXES
Parcel Number
02-4203-009-1320
Land Assessment
$1,449,000
Improvements Assessment
$1,551,000
Total Assessment
$3,000,000
zoning
| Zoning Code | RM-1 (Residential Multifamily) |
| RM-1 (Residential Multifamily) |
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South Beach Multifamily | 900 Pennsylvania Ave
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