Basic Information

  • MLS # A11537022
  • Type Multifamily
  • Style MultiFamily
  • Status Active
  • Subdivision/Complex
  • Year Built 1950
  • Total Sqft 7,500
  • Date Listed 02/21/2024
  • Days on Market 70
Description

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.The property currently has 8 units and has plans to renovate to 10 units. The 10 units will total 2 11 and 8 22. The cost to renovate the property is forecasted to be 750k or 75kunit. Upon completion, rents are slated to be 2,750 for 11 and 3,650 for 22 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.

Exterior Features

  • Waterfront No
  • Pool No
  • Parking Spaces 0
  • Parking Description

Interior Features

  • Adjusted Sqft 7,500
  • Sqft 7,500

Property Features

  • Address 1535 West Ave
  • Aprox. Lot Size 7,500
  • City Miami Beach
  • County Miami-Dade County
  • Furnished Info No
  • Levels Two
  • Occupant Type CallAgent
  • Postal City Miami Beach
  • Public Survey Section Two
  • Public Survey Township 2
  • Short Sale Regular Sale
  • Stories 2
  • HOA Fees N/A
  • Subdivision Complex
  • Subdivision Info
  • Tax Amount $43,229
  • Tax Information 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
  • Tax Year 0
  • Type of Property MultiFamily

1535 West Ave

Miami Beach, FL 33139

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