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901 Pennsylvania Ave 10 Unit Apartment Building $3,799,000 ($379,900/Unit) Miami Beach, FL 33139
Investment Highlights
- Value-Add Angles: Lease-up vacancies, push rents to market, potential facade/retail repositioning
- Recent CapEx: Full roof replacement (2023), new AC units, exterior paint, landscaping
- Rare Entitlement: Legacy retail use in R-O zone — not typically permitted
Executive Summary
901 Pennsylvania Avenue is a two-story, free-standing mixed-use asset in the heart of South Beach at Pennsylvania Ave & 9th Street, with visibility from Washington Avenue and direct adjacency to a City-owned public parking lot. The building totals 10 units: six 1BR/1BA residential apartments upstairs and four ground-floor commercial suites (two corner-oriented and two interior). A landscaped courtyard frontage enhances curb appeal and tenant experience, while the location supports durable mixed-use demand from both local and tourist-driven traffic. The property is zoned RO (Residential/Office) (residential + office permitted), and it also benefits from a current Certificate of Use allowing Retail Sales—a meaningful differentiator within RO (buyer to independently verify transferability/continued validity).
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Courtyard
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (78)
Property Taxes
| Parcel Number | 02-4203-009-0220 | Improvements Assessment | $1,512,900 |
| Land Assessment | $1,800,000 | Total Assessment | $3,312,900 |
Property Taxes
Parcel Number
02-4203-009-0220
Land Assessment
$1,800,000
Improvements Assessment
$1,512,900
Total Assessment
$3,312,900
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901 Pennsylvania Ave
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