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For Sale570 Days
$2,775,000

Address not available!
Miami Beach, FL 33139

Commercial For Sale
7,392 Sq. Ft.
    • 1of15
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    CBRE, Inc.

    Description for Address not available!, Miami Beach, FL 33139

    For Sale> Miami-Dade County> Miami Beach> 33139

    1535 West Avenue is a 10-unit value-add property located in the heart of South Beach. The property has plans that are at the final stages of approval with the City of Miami Beach to commence a full renovation of the existing 8 units to a 10-unit property. The asset features walkable access to Lincoln Road, the beach, Flamingo Park and many more Miami Beach points of interest.rnThe property currently has 8 units and has plans to renovate to 10 units. The 10 units will total 2 1/1 and 8 2/2. The cost to renovate the property is forecasted to be $750k or $75k/unit. Upon completion, rents are slated to be $2,750 for 1/1 and $3,650 for 2/2 which is in line with similar comparables. After renovations, the NOI is projected to be almost $275,000 which provide a return on cost north of 6.5%.

    Property Details

    Listing Details
    For Sale
    Commercial
    Multi-Family
    For Sale
    A11537022
    $2,775,000
    02/21/2024
    7,392 Sqft
    1950
    49
    3096903
    Garage/Parking
    No
    No
    WaterFront and WaterAccess
    No
    Land Info
    02-32-34-018-0620
    HOA Info
    2
    8
    Tax Info
    33-34 53 42 COMMERCIAL SUB PB 6-5 LOT 6 BLK 66 A LOT SIZE 50.000 X 150 OR 19204-3538 06 2000 1
    $43,229
    Listing Information
    CBRE, Inc.
    Neal Victor
    118
    CINC01
    Sefmiami
    $3,250,000
    No
    Apartment

    Price History

    Source: MLS
    DateEventPriceSource
    2024-04-11 02:51:43For Sale$2,775,000MLS
    2024-02-21For Sale$3,250,000MLS
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