2822 Pine Tree Dr
$4,000,000
2822 Pine Tree Dr, Miami Beach, FL 33140
For Sale
Multifamily
Active
Last Updated: 04/25/2025
232,202
NOI
5,983 sqft
Building Size
Details:
NOI: $232,202
Building Size: 5,983 sqft
Units: 12
Year Built: 1935
Floors: 2
Highlights:
- Number Of Buildings: 2
- Construction Materials: Concrete Block Construction
Description:
ATTENTION INVESTORS! Noble Pine Tree Apartments is a rare opportunity for investors looking to enter the Mid-Beach market and own 12 move-in ready residences. All units are fully renovated, with most featuring new in-unit washer/dryers. The unit mix includes (1) two-bedroom, (5) one-bedrooms, and (6) studios. The current average rent per unit is $2,175. Though there are 12 operating units, the building was originally constructed as 8 legal units. The property has been thoughtfully upgraded over time, with modern cabinetry, tile flooring, updated appliances, new vanities, lighting, countertops, and select kitchenettes. In-Place NOI: $232,202. In-Place Cap Rate: 5.4%.
Location
Gallery
