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Ocean Beach Addn No 3

$3,500,000

1124 Pennsylvania Ave, Miami Beach, FL 33139

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

Map:
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