See all 14 photos
14 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$4,250,000
Est. payment /mo
7,392 SqFt
UPDATED:
Key Details
Property Type Multi-Family
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 7,500 Sqft
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 currently
available 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.
available 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 32
Exterior
Private Pool Yes
Building
Story 2
Level or Stories Two
Others
Tax ID 02-32-34-018-0620
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12037045
Read Less Info
Listed by CBRE, Inc.
GET MORE INFORMATION