$2,900,000
$3,300,000
12.1%For more information regarding the value of a property, please contact us for a free consultation.
1124 Pennsylvania Ave Miami Beach, FL 33139
8,140 SqFt
Key Details
Sold Price $2,900,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 8,140 sqft
Price per Sqft $356
Subdivision Ocean Beach Addn No 3
MLS Listing ID A11873913
Style Fourplex
Year Built 1948
Annual Tax Amount $33,824
Tax Year 2025
Property Sub-Type Quadruplex
Property Description
12 units Exclusive Investment Opportunity in Miami Beach Almost completely renovated 12-unit, 8,140 SF low-rise buildingseamlessly blends historic charm with modern appeal, offering investors a prime multifamily asset in a prestigiouslocation. Property Highlights: ? Turnkey Investment – Fully renovated with new roof (August 2024) ? Strong RentalHistory – 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 – Fullycompliant and up to code ? Projected Cap Rate: 6.76% upon rental completion ART DECO` DISTRICT
Location
State FL
County Miami-dade
Community Ocean Beach Addn No 3
Area 42
Interior
Heating Electric
Cooling Electric
Flooring Parquet
Exterior
Pool None
Utilities Available Cable Available
Roof Type Flat
Building
Lot Description < 1/4 Acre
Story 2
Sewer Public Sewer
Structure Type Block
Others
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
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Bought with The Keyes Company