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1535 West Ave
Miami Beach, FL 33139
1535 West · Multifamily Property For Sale
·
8 Units
Investment Highlights
- Fully Renovated Property
- World-Class Location in the Heart of South Beach
- Unmatched Walkability & Connectivity
Executive Summary
CBRE, as exclusive advisor, is pleased to present the opportunity to acquire 1535 West Ave, an exceptionally rare, fully gut-renovated multifamily asset in the heart of South Beach. Simply put, the Property represents one of the most comprehensively upgraded Art Deco multifamily offerings currently available in this highly sought-after market.
In addition, a sister property located at 733 Michigan Avenue—comprised of 10 similarly renovated units—is available for acquisition either individually or as part of a portfolio,
providing investors with immediate scale and operational efficiencies.
Ownership has invested over $800,000 to transform the Property into a best-in-class rental asset, featuring high-end, condo-quality finishes throughout. 1535 West Ave consists of four (4) 2-bedroom / 1-bathroom units averaging $3,140 in current rents and four (4) 3-bedroom / 2-bathroom units averaging $4,463, all secured under 12-month leases. Given the level of renovation and unit finishes, the asset is well-positioned for a potential future condominium conversion, offering an additional monetization pathway.
Strategically located at the epicenter of South Beach, the Property benefits from immediate proximity to the area’s premier demand drivers, including Lincoln Road, Ocean Drive, Collins Avenue, and Washington Avenue. South Beach remains one of the most supply-constrained multifamily submarkets in the United States, with significant barriers to entry and enduring global appeal.
1535 West Ave represents a rare opportunity to acquire a turnkey, “plug-and-play” multifamily asset with minimal near-term capital requirements in one of the world’s most desirable and high-growth rental markets.
In addition, a sister property located at 733 Michigan Avenue—comprised of 10 similarly renovated units—is available for acquisition either individually or as part of a portfolio,
providing investors with immediate scale and operational efficiencies.
Ownership has invested over $800,000 to transform the Property into a best-in-class rental asset, featuring high-end, condo-quality finishes throughout. 1535 West Ave consists of four (4) 2-bedroom / 1-bathroom units averaging $3,140 in current rents and four (4) 3-bedroom / 2-bathroom units averaging $4,463, all secured under 12-month leases. Given the level of renovation and unit finishes, the asset is well-positioned for a potential future condominium conversion, offering an additional monetization pathway.
Strategically located at the epicenter of South Beach, the Property benefits from immediate proximity to the area’s premier demand drivers, including Lincoln Road, Ocean Drive, Collins Avenue, and Washington Avenue. South Beach remains one of the most supply-constrained multifamily submarkets in the United States, with significant barriers to entry and enduring global appeal.
1535 West Ave represents a rare opportunity to acquire a turnkey, “plug-and-play” multifamily asset with minimal near-term capital requirements in one of the world’s most desirable and high-growth rental markets.
Property Facts
| Price Per Unit | $531,250 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.70% | Lot Size | 0.17 AC |
| No. Units | 8 | Building Size | 7,392 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1950/2026 |
| Zoning | RM1 | ||
| Price Per Unit | $531,250 |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,392 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2026 |
| Zoning | RM1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $3,150 | - |
Property Taxes
| Parcel Number | 02-3234-018-0620 | Improvements Assessment | $175,880 |
| Land Assessment | $1,875,000 | Total Assessment | $2,050,880 |
Property Taxes
Parcel Number
02-3234-018-0620
Land Assessment
$1,875,000
Improvements Assessment
$175,880
Total Assessment
$2,050,880
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