Miami Beach, FL 33139 1124 Pennsylvania Ave
$3,500,000
43 more
Presented By: This listing is courtesy of The Keyes Company; 305-898-7224
Beds • 12
Baths • 12
SQFT • 8,140
Home Details
Exclusive Investment Opportunity in Miami Beach
Almost completely renovated 12-unit, 8,140 SF low-rise building seamlessly blends historic charm with modern appeal, offering investors a prime multifamily asset in a prestigious location.
Property Highlights:
? Turnkey Investment – Fully renovated with new roof (August 2024)
? Strong Rental History – 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 – Fully compliant and up to code
? Projected Cap Rate: 6.76% upon rental completion
ART DECO` DISTRICT
Presented By: This listing is courtesy of The Keyes Company; 305-898-7224
Interior Features for 1124 Pennsylvania Ave
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Fireplace Y/NNo
FlooringHardwood, Wood
Heating Y/NYes
Window FeaturesImpactGlass
General for 1124 Pennsylvania Ave
Additional Parcels Y/NNo
Architectural StyleFourplex
Assoc Fee Paid PerAnnually
Attached Garage No
AttributionContact305-898-7224
Carport Y/NNo
CityMiami Beach
Construction MaterialsBlock
CoolingWallWindowUnits
CountyMiami-Dade
Electric On Property Y/NNo
Garage Y/NNo
HOANo
HOA Fee$0.0
HeatingWallFurnace
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Legal DescriptionOCEAN BEACH ADDN NO 3 PB 2-81 LOT 3 BLK 42 LOT SIZE 50.000 X 140 OR 21070-1416 0203 1
LevelsTwo
Listing TermsCash, Conventional, Cryptocurrency, Exchange1031
Lot Size UnitsSquareFeet
MLS Area42
MobileHomeRemainsYNNo
New ConstructionNo
Occupancy TypeCallAgent
Pool FeaturesNone
PossessionNegotiable
PostalCityMiami Beach
Property Attached Y/NNo
Property Sub Type AdditionalQuadruplex
Property SubtypeQuadruplex
Property TypeResidentialIncome
Rent Control Y/NNo
Rent IncludesHotWater, PestControl, Sewer, TrashCollection, Water
RoofConcrete, Flat
Senior Community Y/NNo
SewerPublicSewer
Standard StatusActive
StatusActive
Stories2
Subdivision NameOCEAN BEACH ADDN NO 3
Tax Annual Amount33824.0
Tax Year2024
UtilitiesCableAvailable
Virtual TourClick here
Waterfront Y/NNo
Year Built1948
Year Built DetailsResale
Zoning Description3900
Exterior for 1124 Pennsylvania Ave
Building Area Total8140.0
Covered Spaces0.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesLessThanQuarterAcre
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking0.0
Additional Details
Price History
Jennifer Gutierrez
Realtor®
