2822 Pine Tree Dr 9 Unit Apartment Building $3,700,000 ($411,111/Unit) 5.96% Cap Rate Miami Beach, FL 33140

3,700,000 | 12 Units | $24,000 Monthly Income | Mid-Beach, Miami Beach, FL
Discover Noble Pine Tree Apartments, a fully renovated 12-unit boutique multifamily property ideally located on prestigious Pine Tree Drive in Miami Beach. Blending timeless Art Deco charm with modern finishes and strong in-place income exceeding $287,800 annually this property delivers turnkey stability, excellent yield, and long-term appreciation in one of Miami Beach’s most sought-after neighborhoods.
Highlights
Annual Gross Rent: $287,800 | NOI (Est.): $220,000 – $255,000
Unit Mix: 1 × 2BR | 5 × 1BR | 6 × Studios
Avg. Rent per Unit: $2,175 | Potential Rent: $2,400 – $2,600 per unit
Lot Size: 8,580 SF | Construction: Concrete block
Living Area: 5,860 SF
Price per Unit: ˜ $308,000 | Price per SF: $631.00
Property Features
Each unit has been tastefully upgraded with quartz countertops, premium cabinetry, modern appliances, designer lighting, and sleek bathroom finishes.
Most units include in-unit washer/dryers, maximizing tenant retention and reducing operating costs.
The property’s lush outdoor areas with shaded seating, hammocks, and café-style tables create an inviting tropical retreat just a 5-minute walk to the beach.
Prime Mid-Beach Location
Nestled between multi-million-dollar estates and luxury hotels, the property sits less than a block from the newly completed $42.8 million Bayshore Park Redevelopment, featuring:
19.4 acres of green space with a central lake and pavilion
Six tennis courts, dog park, jogging trail, and playgrounds
Enhanced lighting and security that further elevate Mid-Beach appeal
This transformative public investment ensures lasting appreciation and premium tenant demand.
Investment Opportunity
Turnkey, cash-flowing asset with proven rent roll and low vacancy.
Airbnb license (grandfathered in).
Stabilized income with rental upside through repositioning or furnished corporate rentals (subject to zoning).
Ideal 1031 exchange replacement or first-entry Miami Beach investment.
High-barrier-to-entry location where land scarcity and zoning limits protect long-term value.
At $3.7 million, Noble Pine Tree Apartments offers institutional-grade fundamentals in a boutique footprint—a rare opportunity on Pine Tree Drive.
Additional Information
Shown by appointment only — please do not disturb tenants
Full rent roll and financials available upon request
Broker inquiries welcome