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2822 Pine Tree Dr 12 Unit Apartment Building $3,800,000 ($316,667/Unit) Miami Beach, FL 33140
EXECUTIVE SUMMARY
Introducing Noble Pine Tree Apartments, a fully renovated 12-unit boutique multifamily property located on prestigious Pine Tree Drive in Miami Beach, one of the city’s most desirable residential corridors. The property benefits from its proximity to the beach, luxury hotels, and high-end residential neighborhoods, while offering a quiet, tree-lined setting that appeals to long-term tenants. The Property’s renovation scope, unit mix, and in-place income make it an ideal acquisition for investors seeking stable cash flow with long-term appreciation. Generating approximately $291,00 in annual gross rental income and an estimated NOI of $215,350, Noble Pine Tree Apartments offers a turnkey opportunity in a high-barrier-to-entry Miami Beach submarket where new multifamily supply is limited.
Investment Highlights:
Turnkey Boutique Multifamily Opportunity: The Property consists of 12 fully renovated units featuring a balanced mix of studios, one-bedroom,
and two-bedroom layouts. Interior upgrades include quartz countertops, premium cabinetry, modern appliances, designer lighting, and updated
bathrooms, allowing for immediate ownership with minimal near-term capital requirements.
Strong In-Place Income with Rental Upside: Noble Pine Tree Apartments offers stabilized cash flow with meaningful upside as in-place rents
remain below prevailing market levels. Investors can capture additional value through natural rent growth as leases roll, while maintaining low
vacancy in a highly desirable rental market.
Prime Pine Tree Drive Location: Situated on one of Miami Beach’s most exclusive residential corridors, the Property is surrounded by luxury
homes and hotels and is within walking distance of the beach. Its central Mid-Beach location provides convenient access to South Beach, North
Beach, and the greater Miami area.
Proximity to Bayshore Park Redevelopment: The Property is located less than one block from the newly completed $42.8 million Bayshore Park
Redevelopment, featuring expansive green space, recreational amenities, and enhanced security. This significant public investment further elevates
neighborhood appeal and supports long-term tenant demand.
High-Barrier-to-Entry Investment Market: Strict zoning regulations, limited developable land, and strong demand for renovated multifamily assets
in Miami Beach protect long-term value and support durable pricing power. The Property is well suited for a 1031 exchange buyer or long-term
investor seeking stable income and appreciation.
Investment Highlights:
Turnkey Boutique Multifamily Opportunity: The Property consists of 12 fully renovated units featuring a balanced mix of studios, one-bedroom,
and two-bedroom layouts. Interior upgrades include quartz countertops, premium cabinetry, modern appliances, designer lighting, and updated
bathrooms, allowing for immediate ownership with minimal near-term capital requirements.
Strong In-Place Income with Rental Upside: Noble Pine Tree Apartments offers stabilized cash flow with meaningful upside as in-place rents
remain below prevailing market levels. Investors can capture additional value through natural rent growth as leases roll, while maintaining low
vacancy in a highly desirable rental market.
Prime Pine Tree Drive Location: Situated on one of Miami Beach’s most exclusive residential corridors, the Property is surrounded by luxury
homes and hotels and is within walking distance of the beach. Its central Mid-Beach location provides convenient access to South Beach, North
Beach, and the greater Miami area.
Proximity to Bayshore Park Redevelopment: The Property is located less than one block from the newly completed $42.8 million Bayshore Park
Redevelopment, featuring expansive green space, recreational amenities, and enhanced security. This significant public investment further elevates
neighborhood appeal and supports long-term tenant demand.
High-Barrier-to-Entry Investment Market: Strict zoning regulations, limited developable land, and strong demand for renovated multifamily assets
in Miami Beach protect long-term value and support durable pricing power. The Property is well suited for a 1031 exchange buyer or long-term
investor seeking stable income and appreciation.
PROPERTY FACTS
| Price | $3,800,000 | Building Class | B |
| Price Per Unit | $316,667 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 5,860 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1935/1964 |
| Apartment Style | Low-Rise | Parking Ratio | 2.05/1,000 SF |
| Zoning | RM-1 - Zoned RM-1 (Multifamily Residential), allowing for continued use as a 12-unit income property with potential for future redevelopment or repositioning | ||
| Price | $3,800,000 |
| Price Per Unit | $316,667 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 5,860 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1935/1964 |
| Parking Ratio | 2.05/1,000 SF |
| Zoning | RM-1 - Zoned RM-1 (Multifamily Residential), allowing for continued use as a 12-unit income property with potential for future redevelopment or repositioning |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Microwave
- Storage Space
- Washer/Dryer
- Hardwood Floors
- Oven
- Stainless Steel Appliances
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
- Furnished Units Available
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 5 | - | - |
| 1+1 | 5 | - | - |
| 2+1 | 1 | - | - |
| 2+2 | 1 | - | - |
1 1
Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 02-3227-004-0220 | Improvements Assessment | $427,798 |
| Land Assessment | $1,887,600 | Total Assessment | $2,315,398 |
PROPERTY TAXES
Parcel Number
02-3227-004-0220
Land Assessment
$1,887,600
Improvements Assessment
$427,798
Total Assessment
$2,315,398
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