655-657 Lenox Ave
Miami Beach, FL 33139
Multifamily Property For Sale · 8 Units

Horvath & Tremblay is pleased to present the exclusive sale of 655 Lenox Avenue (herein referred to as “the property”), an 8-unit apartment building located on a quiet residential street in Miami Beach, Florida. The gated and secured courtyard style building was constructed of concrete block in 1956 and is situated on 0.17 acres of land. The property consists of two adjacent two-story buildings and has a total of 5,877 square feet of rentable adjusted area per the Miami Dade County Property Appraiser, which is spread across an excellent unit mix consisting of two (2) two-bedroom and two-bathroom units and six (6) one-bedroom and one-bathroom units. Units are well laid out and feature renovated kitchens and bathrooms with top of the line finishes and upgraded appliances, flooring, and fixtures. Being just steps away from Flamingo Park and the Infamous Shops on 5th Street, the Property provides an excellent South Beach location suitable for a variety of resident profiles. The Property has undergone extensive renovations and preventative maintenance over the years including the replacement of many Air Conditioning Units and Windows. The rents at the property are significantly below market and offer an investor the immediate opportunity to significantly increase revenue through hands on management.
Miami Beach is a south Florida island city, connected by bridges to mainland Miami. Wide beaches stretch from North Shore Open Space Park, past palm-lined Lummus Park to South Pointe Park. South Beach is known for its beaches and the glamorous scene around its happening nightspots and celebrity-chef eateries. Chain stores and indie fashion shops line pedestrian shopping strip Lincoln Road Mall. in 1962, Miami Beach closed off its popular Lincoln Road shopping district to automobile traffic, creating an eight-lane pedestrian mall in the heart of the city. Since then, it’s been the social hub of South Beach, where shops, restaurants, theaters, and street performers make for one of the destination’s most unique experiences. Miami Beach’s world-famous Ocean Drive is a destination where Art Deco architecture and design shines beside the Atlantic Ocean, sidewalk cafes serve up every type of cuisine imaginable, and lively music echoes down the street. The area is also home to numerous parks and museums including Flamingo Park, Lummus Park, the Miami Beach Botanical Gardens, the Museum of Illusions, and the Wolfsonian-FIU, which has a collection of modern art and objects. South Beach provides a fusion of culture and style all on its own. South Beach offers the conveniences and culture of a thriving urban center balanced with the tranquility of island life. Each weekend features a local farmer’s market along Lincoln Road with booths selling fresh juice, organic produce, and other unique finds. The neighborhood is close to some of Miami Beach’s top shopping destinations, including the Lincoln Road Shopping District featuring locally-owned boutiques and restaurants and just to the north, the outdoor Bal Harbor Shops with over 100 luxury retailers.