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12 UNITS, Park East ~ 8% RETURN, SELLER FINAN 11th St. 12 Unit Apartment Building $4,600,000 ($383,333/Unit) 7.11% Cap Rate Miami Beach, FL 33139
Investment Highlights
- * 9% CAP RATE = SELLER FINANCING 6%, INTEREST ONLY UP TO 7 YEARS. 25% DOWN PAYMENT MINIMUM
- Privately located in an exclusive residential neighborhood so it's the quietest part of SOBE. Plenty of permit parking available.
- 3 blocks to the beach. 5 mins to MacArthur Causeway for easy access to Downtown, Brickell, Wynwood and Design District!
- * SUBJECT 2 CURRENT LOAN BALANCE $2.4M AT 4.15% INTEREST RATE. MUST TAKE OVER THE LLC WHO OWNS THE LOAN.
- Located near Flamingo Park, S. Pointe Park, S. of Fifth, Lincoln Rd Mall and a variety of outdoor activities!
Executive Summary
8% CAP RATE WITH $800K SELLER FINANCING, 6% INTEREST ONLY UP TO 7 YEARS! 12 UNITS (2-2BR, 4-1BR, 6-STUDIOS)= RARE opportunity to own a Luxury Completely Renovated Turn-Key Investors Dream Income Producing Goldmine! Mid-Century Modern meets Art Deco Masterpiece in this completely restored down to the studs 12 units, 2-story building, a large (7000 SFT) lot, the most quiet, peaceful & safe street in all of S. Beach! Renovations include new AC, HWH, plumbing, electrical panels, roof, modern kitchens with quartz counters, SS appliances, breakfast bar. Cool, hip and chic decor throughout incl hotel quality baths with celebrity lighting, wood floors easy to clean and durable. Washer & dryer in all units. 4 PRIVATE PARKING SPOTS. BBQ patio to enjoy!
Seller Financing = $800K @ 6% interest rate
Existing Loan = $2.4M @ 4.125% interest rate
Down Payment = $1,000,000
Price per door = $350,000
Only 4.6% "blended" interest rate
This is an amazing deal, check the comps. We just sold 1000 7th St, Miami Beach, FL 33139 at $468,500 per door.
We just sold 935 Meridian, Miami Beach, FL 33139 at $675,000 per door.
This property is closer to the beach and offered at only $366K per door. You see what I mean?
Check all the photos and attachments for all the info you need. We can also email you more info, just call or text me.
All tenants on annual leases generating an 8%+ CAP RATE with full insurance. New rents in the area justify a 6% increase which pushes that closer to 8.5%.
We have a full inspection report, check documents!!
DO NOT DISTURB THE TENANTS PLEASE. SHOWINGS ARE NOT POSSIBLE.
Seller Financing = $800K @ 6% interest rate
Existing Loan = $2.4M @ 4.125% interest rate
Down Payment = $1,000,000
Price per door = $350,000
Only 4.6% "blended" interest rate
This is an amazing deal, check the comps. We just sold 1000 7th St, Miami Beach, FL 33139 at $468,500 per door.
We just sold 935 Meridian, Miami Beach, FL 33139 at $675,000 per door.
This property is closer to the beach and offered at only $366K per door. You see what I mean?
Check all the photos and attachments for all the info you need. We can also email you more info, just call or text me.
All tenants on annual leases generating an 8%+ CAP RATE with full insurance. New rents in the area justify a 6% increase which pushes that closer to 8.5%.
We have a full inspection report, check documents!!
DO NOT DISTURB THE TENANTS PLEASE. SHOWINGS ARE NOT POSSIBLE.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$325,845
|
$34.67
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$325,845
|
$34.67
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$98,661
|
$10.50
|
| Net Operating Income |
$227,184
|
$24.17
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $325,845 |
| Annual Per SF | $34.67 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $325,845 |
| Annual Per SF | $34.67 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $98,661 |
| Annual Per SF | $10.50 |
| Net Operating Income | |
|---|---|
| Annual | $227,184 |
| Annual Per SF | $24.17 |
Property Facts
Amenities
Unit Amenities
- Washer/Dryer
Site Amenities
- Courtyard
- Fenced Lot
- Playground
- Security System
- Vintage Building
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
| 1+1 | 4 | - | - |
| 2+1 | 2 | - | - |
1 1
Exceptionally walkable
90/100
Fairly drivable
40/100
Limited public transit
30/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 02-4203-009-4570 | Improvements Assessment | $700,000 (2025) |
| Land Assessment | $1,400,000 (2025) | Total Assessment | $2,100,000 (2025) |
Property Taxes
Parcel Number
02-4203-009-4570
Land Assessment
$1,400,000 (2025)
Improvements Assessment
$700,000 (2025)
Total Assessment
$2,100,000 (2025)
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12 UNITS, Park East ~ 8% RETURN, SELLER FINAN | 11th St.
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