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8-Unit Renovated & Furnished SOBE Multifamily 545 Michigan Ave 8 Unit Apartment Building For Sale Miami Beach, FL 33139
Investment Highlights
- 30-day minimum monthly rentals are allowed.
- Prime South Beach location - High demand area
- Direct proximity to Mac Arthur Causeway and Alton Road
- Renovated and fully furnished units
- Direct proximity to commercial area
Executive Summary
545 Michigan Avenue is an 8-unit apartment building located in the heart of South Beach and on the border of the prestigious South of Fifth neighborhood. This property contains a mix of four (4) studio apartments and four (4) 2 bedroom 2 bathroom apartments. The units are newly renovated and furnished, making them poised for strong and immediate rental income.
The property is optimized for both short-term and long-term rentals. 30-day minimum monthly rentals are allowed. The Commercial General Mixed-Use (CPS-2) zoning allows for more flexible occupancy options.
The property is in a prime location in South Beach’s historic Art Deco District nearby Miami Beach’s best bars, restaurants, hotels, parks, and beaches.
One block from the South of Fifth border. Two blocks from Alton Road. Three blocks from Washington Avenue. Four Blocks from Collins Avenue. Five blocks from the beach and Ocean Drive.
The property is optimized for both short-term and long-term rentals. 30-day minimum monthly rentals are allowed. The Commercial General Mixed-Use (CPS-2) zoning allows for more flexible occupancy options.
The property is in a prime location in South Beach’s historic Art Deco District nearby Miami Beach’s best bars, restaurants, hotels, parks, and beaches.
One block from the South of Fifth border. Two blocks from Alton Road. Three blocks from Washington Avenue. Four Blocks from Collins Avenue. Five blocks from the beach and Ocean Drive.
Property Facts
| Sale Type | Investment | Lot Size | 0.16 AC |
| No. Units | 8 | Building Size | 5,466 SF |
| Property Type | Multifamily | Average Occupancy | 12% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1939 |
| Building Class | C | Parking Ratio | 0.63/1,000 SF |
| Zoning | CPS-2 | ||
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,466 SF |
| Average Occupancy | 12% |
| No. Stories | 2 |
| Year Built | 1939 |
| Parking Ratio | 0.63/1,000 SF |
| Zoning | CPS-2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 500 |
| 2+2 | 4 | - | 750 |
Very walkable
80/100
Fairly drivable
40/100
Some public transit
40/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 02-4203-009-6260 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,489,994 |
Property Taxes
Parcel Number
02-4203-009-6260
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,489,994
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