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$4,250,000
Est. payment /mo
7,392 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,392 sqft
Price per Sqft $574
MLS Listing ID A12037045
HOA Y/N No
Year Built 1950
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type Multi Family
Property Description
1535 West Ave is an exceptionally rare, fully gut-renovated multifamily asset in the heart of South Beach. Simply put, the Property represents one of the most comprehensively upgraded Art Deco multifamily offerings currentlyavailable in this highly sought-after market.In addition, a sister property located at 733 Michigan Avenue—comprised of 10 similarly renovated units—is available for acquisition either individually or as part of a portfolio, providing investors with immediate scale and operational efficiencies.Ownership has invested over $800,000 to transform the Property into a best-in-class rental asset, featuring high-end, condo-quality finishes throughout. 1535 West Ave consists of four (4) 2-bedroom / 1-bathroom units averaging $3,140 in current rents and four (4) 3-bedroom / 2-bathroom units averaging $4,463, all secured under 12-month leases. Given the level of renovation and unit finishes, the asset is well-positioned for a potential future condominium conversion, offering an additional monetization pathway.Strategically located at the epicenter of South Beach, the Property benefits from immediate proximity to the area's premier demand drivers, including Lincoln Road, Ocean Drive, Collins Avenue, and Washington Avenue. South Beach remains one of the most supply-constrained multifamily submarkets in the United States, with significant barriers to entry and enduring global appeal.
Location
State FL
County Miami-dade
Area 2320
Zoning 3900
Interior
Interior Features InteriorFeatures
Fireplace No
Building
Story 2
Others
Tax ID 0232340180620
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12037045
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Listed by Periklis Synanidis CBRE, Inc.
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