538 Meridian Ave

Highlights:

• Number Of Buildings: 1
• Flooring: Carpet, Ceramic Floor
• Construction Materials: CBS Construction
• Parking Features: Covered, Garage, Guest, Loading Spaces, No Truck/Trailer
• Accessibility Features: Accessible Parking
• Security Features: Smoke Alarm, Smoke Detector(s), Fire Sprinkler System, Security Fence, Security Gate

Description:

12 Units, 2 BD, 16 BA, 24 Beds, 18,301 SQFT. Located in the heart of South Beach, walk to Collins Ave. Shopping District & Ocean Drive. Blocks away from Lincoln Road Mall, and Miami Beach Convention Center. The property is situated 5 miles northeast of Downtown Miami and 10 miles east of Miami Int'l Airport. Property is leased to a hospitality group and its a boutique hotel. This is a smoke-free building with a parking garage. The units have a full-size kitchen with a refrigerator, dishwasher, oven with stovetop, microwave and washer and dryers. Units are fully furnished with modern furnishings throughout and beautifully decorated. Licensed for short term rentals. Cap Rate 5% (based on seller's master lease income with tenant, not hospitality's income).