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TRIPLEX, HOME HACKERS-DEVELOPMENT OPPORTUNITY 2024 Alton Rd 3 Unit Apartment Building $2,275,000 ($758,333/Unit) 8% Cap Rate Miami Beach, FL 33140
EXECUTIVE SUMMARY
Generating $6,500/month in rental income, this multifamily property sits directly across from Miami Beach Golf Club with 3 units totaling 6BR/3BA and 2,746 sq ft living space on a 7,320 sq ft lot. Main residence (2,141 sq ft) offers 3BR/1BA, spacious living areas, a sunroom, fireplace, walk-in closets, and a kitchen with granite countertops and solid wood cabinetry, currently leased for $3,000/month. The upstairs unit (467 sq ft) private 1BR/1BA with full kitchen, living room, and large windows for natural light, rented at $1,200/month. Detached 605 sq ft guesthouse adds 2BR/1BA, a full kitchen, bath with stand-up shower, covered outdoor seating area, leased for $2,300/month. Impact windows throughout, minutes from Lincoln Road, Sunset Harbour, world-class dining, shopping, and the beach.
PROPERTY FACTS
| Price | $2,275,000 | Building Class | C |
| Price Per Unit | $758,333 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 3,800 SF |
| Cap Rate | 8% | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | Parking Ratio | 0.79/1,000 SF |
| Apartment Style | Single-Family Home | ||
| Zoning | ¤0100 - ¤0100 | ||
| Price | $2,275,000 |
| Price Per Unit | $758,333 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1925 |
| Parking Ratio | 0.79/1,000 SF |
| Zoning | ¤0100 - ¤0100 |
AMENITIES
UNIT AMENITIES
- Bay Window
- Eat-in Kitchen
SITE AMENITIES
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 1 | - | - |
| 3+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (79)
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TRIPLEX, HOME HACKERS-DEVELOPMENT OPPORTUNITY | 2024 Alton Rd
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