Property Description
Exclusive Investment Opportunity in Miami Beach
Almost completely renovated 12-unit, 8,140 SF low-rise building seamlessly blends historic charm with modern appeal, offering investors a prime multifamily asset in a prestigious location.
Property Highlights:
? Turnkey Investment – Fully renovated with new roof (August 2024)
? Strong Rental History – 95% occupancy rate, ensuring stable cash flow
? Unit Mix & Sizes: 8 Studios (Avg. 500 SF) – Rented at $1,650/month – 4 One-Bedroom Units (Avg. 700 SF) – Rented at $2,100/month
? Recertification Passed – Fully compliant and up to code
? Projected Cap Rate: 6.76% upon rental completion
ART DECO` DISTRICT
Features
: Window/wall
: Wall/window Unit(s)
: Wood
: Less Than 1/4 Acre Lot
: Concrete, Flat Roof With Facade Front
: Public Sewer
Address Map
FL
Miami-Dade County
Miami Beach
33139
1124 Pennsylvania Ave
OCEAN BEACH ADDN NO 3
0
W81° 51' 56.1''
N25° 46' 56.9''
OCEAN BEACH ADDN NO 3
MLS Addon
: Attached
Annually
: Cbs Construction
6
: All Cash, Conventional, Exchange, Cryptocurrency
: Substantially Remodeled
: Sewer, Water, Trash Collection, Hot Water, Pest Control
2
: Quadruplex, Fourplex
$33,824
2024
3900
Residential Income For Sale
1124 Pennsylvania Ave, Miami Beach, Florida 33139
8,140 Sqft
$3,500,000
Listing ID #A11758768
Basic Details
Property Type : Residential Income
Property SubType : Quadruplex
Listing Type : For Sale
Listing ID : A11758768
Price : $3,500,000
Square Footage : 8,140 Sqft
Year Built : 1948
Building Area : 8,140 Sqft
Status : Active
