Property Description

Ocean 18 Lofts (924 Marseille Dr) is a three-story Art Deco apartment building featuring 18 fully renovated units in the heart of North Beach. The unit mix comprises of 7 standard studios, 4 large studios, 4 one-bedroom apartments, and 3 two-bedroom apartments. Most units come fully furnished. The property is fully occupied with a current average rent of $1,851. With significantly below-market rents, there is a potential rental upside of $75,900 annually ($350+ per unit per month) aligning with current market rates. Renovations include: New bathrooms with glass enclosures, new stainless steel appliances, updated cabinetry, updated PVC plumbing, new electrical system, porcelain tile flooring, new lighting, new fixtures, new doors with keyless entry, fully furnished, and quartz countertops.

Address Map
FL
Miami-Dade County
Miami Beach
33141
924 Marseille Dr
0
W81° 52' 15.2''
N25° 51' 23.1''
MLS Addon
280
: Sale
: Free Standing
3900

Commercial Sale For Sale

924 Marseille Dr, Miami Beach, Florida 33141

11,437 Sqft
$5,050,000
Listing ID #A11601414
Basic Details
Property Type : Commercial Sale
Property SubType : Income/multifamily
Listing Type : For Sale
Listing ID : A11601414
Price : $5,050,000
Year Built : 1926
Lot Area : 11,437 Sqft
Building Area : 9,375 Sqft
Status : Active
Agent info
Contact Agent