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$ 4,300,000
Est. payment | /mo
8,807 SqFt
$ 4,300,000
Est. payment | /mo
8,807 SqFt
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,807 sqft
Price per Sqft $488
MLS Listing ID A12056657
HOA Y/N No
Year Built 1959
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type Multi Family
Property Description
Rare South Beach multifamily investment opportunity at 934 Meridian Avenue. This two-story, 16-unit property features 14 studios and two one-bedroom/one-bath residences, totaling 8,807 SF on a 7,000 SF lot. Offered at $4,300,000, the property generates a seller-provided annualized T-10 NOI of $221,799, representing a 5.16% current cap rate. A new roof and new water heater address two major capital items, allowing a future owner to focus on unit-level cosmetic improvements and potential rent growth. Zoned RM-1 and ideally located on a beautiful tree-lined street near Flamingo Park, Washington Avenue, Lincoln Road, Española Way, Ocean Drive and the beach. Offering Memorandum and financial information available upon request.
Location
State FL
County Miami-dade
Area 2420
Zoning 3900
Interior
Interior Features InteriorFeatures
Fireplace No
Others
Tax ID 0242030094370
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12056657
Listed by Marilina R Apfelbaum Beachfront Realty Inc
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