Ocean Beach Addn No 3
$3,500,000
1124 Pennsylvania Ave, Miami Beach, FL 33139
For Sale
Multifamily
Duplex / Triplex / Fourplex
Active
Last Updated: 03/10/2025
8,140 sqft
Building Size
1
Units
Details:
Building Size: 8,140 sqft
Units: 1
Year Built: 1948
Floors: 2
Gross Leaseable Area: 8,140
Highlights:
- Lot Features: Less Than 1/4 Acre Lot
- Documents Available: Deposit - Last Months Rent, Deposit - Security, Financial Statement, Copy Of Lease(S), Rent Rolls, Service Contracts
- Architectural Style: Attached
- Cooling: Wall/Window Unit(s)
- Heating: Window/Wall
- Flooring: Wood
- Construction Materials: CBS Construction
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
Location
Gallery
