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Sherpine Apartments

2905 Sheridan Avenue, Miami Beach, FL 33140

N/A

8 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
8
Building Size:
6,047 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
3%
Cap Rate:
4.50%
Gross Rent Multiplier:
12.84
Occupancy:
100%
No. Stories:
2
Year Built:
1936
Lot Size:
7,080 SF
Listing ID
17736455
Last Updated
over 1 year ago

Highlights

  • Internationally recognized Mid Beach/Miami Beach location
  • 35-45 Percent Value Appreciation since 2008
  • Significant rental upside (one unit at $1216 in rent currently)
  • Minimal Rental Competition/ Limited Stock of Rental Properties in the area
  • Minimal Vacancy/Tenant Turnover
  • Short distance to Collins Avenue and the Atlantic Ocean

Description

This investment opportunity is rare since the "mid beach"section of Miami Beach is comprised mainly of upscale single family homes and there is minimal stock of apartment rentals in the area.

Additionally, there are very few for rent signs, no concessions, and minimal vacancy in the area which show how much apartment rentals are in demand here. Mid-Beach has seen its apartment rents and subsequent property values grow by a greater amount since 2008 than just about any other rental location in South Florida.

Investors from all over the world will continue investing here due to the safety, rent growth and value appreciation the real estate here provides that no other location in Dade couny truly compares to.

The Sherpine Apartments are located in the mid-beach section of Miami Beach, FL roughly half a mile west of the Atlantic Ocean. It is also four blocks from famous Collins Avenue and a few minutes north of South Beach a tourist destination. The property is located on Sheridan Avenue and is in between Royal Palm Avenue and Pinetree Drive.

Map of 2905 Sheridan Avenue, Miami Beach, FL 33140 (Miami-Dade County)

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