828 Pennsylvania AVE, Miami Beach, FL 33139
See all 10 photos
828 Pennsylvania AVE, Miami Beach, FL 33139
828 Pennsylvania AVE, Miami Beach, FL 33139
828 Pennsylvania AVE, Miami Beach, FL 33139
828 Pennsylvania AVE, Miami Beach, FL 33139
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
Alex Mendel

Alex Mendel

+1(561) 827-8449
$ 2,990,000
Est. payment /mo
Save Virtual Tour
Active

828 Pennsylvania AVE Miami Beach, FL 33139

6,608 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,608 sqft

Price per Sqft $452

MLS Listing ID F10546676

HOA Y/N No

Year Built 1928

Annual Tax Amount $39,072

Tax Year 2024

Lot Size 6,969 Sqft

Acres 0.16

Property Sub-Type Multi Family

Property Description

Attractive multifamily 12-unit boutique property in the heart of the popular and highly desirable Flamingo Submarket of South Beach. Located two blocks away from the beach, the property is well-maintained and fully-leased. Brand new roof put on in 2025. Constructed in 1928 and partially renovated in 2024, the property has a rentable square footage of 5,862 and is situated on 0.16 acres of land, consisting of a unit mix of three studio and nine one-bedroom apartments with upgraded units featuring renovated bathrooms and kitchens with stainless steel appliances. Cap Rate 4.5%, 2025 Effective Gross Income: $241,000, 2025 Net Operating Income: $140,700Pro Forma Cap Rate: 6.25%, Pro Forma EGI: $305,580, Pro Forma NOI: $200k Attractive multifamily 12-unit boutique property in the heart of the popular and highly desirable Flamingo Submarket of South Beach. Located two blocks away from the beach, the property is well-maintained and fully-leased. Brand new roof in 2025.Constructed in 1928 and partially renovated in 2024, the property has a rentable square footage of 5,862 and is situated on 0.16 acres of land, consisting of a unit mix of three studio and nine one-bedroom apartments with upgraded units featuring renovated bathrooms and kitchens with stainless steel appliances. Residents also benefit from the convenience of an on-site laundry facility. Units have a mix of wall and central air conditioning.The property offers an investor the opportunity to acquire an excellently located two-story Art Deco style building that reflects the charm of Miami Beach in a bygone era. In addition, the in-place renovations afford an investor the opportunity to raise rents immediately or continue to upgrade units and execute a value-added strategy.Cap Rate 4.5%, Effective Gross Income: $241,000, Net Operating Income: $140,700Pro Forma Cap Rate: 6.25%, Pro Forma EGI: $305,580, Pro Forma NOI: $200k

Location

State FL

County Miami-dade

Exterior

Private Pool Yes

Others

Senior Community No

Tax ID 02-42-03-009-1440

Virtual Tour https://www.propertypanorama.com/828-Pennsylvania-Ave-Miami-Beach-FL-33139/unbranded

Miami Association of Realtors (SEFMIAMI MLS)
Listed by LoKation
Alex Mendel

Alex Mendel

Agent

+1(561) 827-8449

GET MORE INFORMATION

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Alex Mendel | Keller Williams Realty, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Go tour this home

828 Pennsylvania AVE

QUICK SEARCH
There are 51 quick searches