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1025 Meridian Ave
Miami Beach, FL 33139
Multifamily Property For Sale
·
16 Units
INVESTMENT HIGHLIGHTS
- Excellent SOBE location
- Available individually or part of a larger SOBE portfolio
- Value Add upside
EXECUTIVE SUMMARY
• 16 studio units
• 3 fully renovated units
• Property includes community laundry
• 1 new washer/1 new dryer installed (exterior) on 3.12.25, new contract with WASH Laundry
• Existing CapX has been primarily focused on non-income producing common area/exterior building upgrades
• Building interior & exterior painting completed 02/2022 ($46k)
• Has over $510,000 in combined CapEx between current and previous owner
• Building-wide drywood termite fumigation completed 12/23 ($12k)
• 3 fully renovated units
• Property includes community laundry
• 1 new washer/1 new dryer installed (exterior) on 3.12.25, new contract with WASH Laundry
• Existing CapX has been primarily focused on non-income producing common area/exterior building upgrades
• Building interior & exterior painting completed 02/2022 ($46k)
• Has over $510,000 in combined CapEx between current and previous owner
• Building-wide drywood termite fumigation completed 12/23 ($12k)
PROPERTY FACTS
| Price Per Unit | $201,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| No. Units | 16 | Building Size | 8,007 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1941 |
| Apartment Style | Low-Rise | Parking Ratio | 0.37/1,000 SF |
| Zoning | RM-1 | ||
| Price Per Unit | $201,250 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 8,007 SF |
| No. Stories | 2 |
| Year Built | 1941 |
| Parking Ratio | 0.37/1,000 SF |
| Zoning | RM-1 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | $1,640 | 290 - 500 |
PROPERTY TAXES
| Parcel Number | 02-4203-009-3830 | Improvements Assessment | $1,020,000 |
| Land Assessment | $1,260,000 | Total Assessment | $2,280,000 |
PROPERTY TAXES
Parcel Number
02-4203-009-3830
Land Assessment
$1,260,000
Improvements Assessment
$1,020,000
Total Assessment
$2,280,000
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