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So. Beach 29-Unit Multifamily Portfolio 2 Multifamily Properties Offered at $7,700,000 in Miami Beach, FL
Investment Highlights
- • Below-market rents with major upside
- • Majority 1BR units (high tenant demand)
- • Parking component at 846 Lenox (rent premium potential)
- • Current combined gross income: $521,700
- • Classic South Beach studio mix for flexibility
- • Impact windows installed at 846 Lenox
Executive Summary
Rare chance to acquire two South Beach multifamily buildings totaling 29 units with completed 40-year recertifications and significant value-add potential. Both properties offer below-market rents and highly walkable locations, making this an ideal portfolio for investors seeking scale in a supply-constrained submarket.
846 Lenox Investment Highlights:
• 13 1BR/1BA units
• Covered parking (rare for the area)
• Built in the 1980s
• Gross income: $232,200
• Impact windows installed
• 40-year recertification completed
• Strong rental upside through renovations and repositioning
1333 Meridian Investment Highlights
• 16 units | 7,740 SF
• 12 studios + 4 one-bedroom units
• Current gross income: $289,500
• One vacancy = immediate upside
• 40-year recertification completed
• Strong value-add potential through rent repositioning
• Walkable South Beach location near Lincoln Rd and across from Flamingo Park
846 Lenox Investment Highlights:
• 13 1BR/1BA units
• Covered parking (rare for the area)
• Built in the 1980s
• Gross income: $232,200
• Impact windows installed
• 40-year recertification completed
• Strong rental upside through renovations and repositioning
1333 Meridian Investment Highlights
• 16 units | 7,740 SF
• 12 studios + 4 one-bedroom units
• Current gross income: $289,500
• One vacancy = immediate upside
• 40-year recertification completed
• Strong value-add potential through rent repositioning
• Walkable South Beach location near Lincoln Rd and across from Flamingo Park
Data Room Click Here to Access
Taxes & Operating Expenses (Actual - 2025) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$99,999
|
| Taxes |
-
|
| Operating Expenses |
-
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
Property Facts
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 846 Lenox Ave, Miami Beach, FL 33139 | Multifamily | 12,820 SF | 1988 | - |
| 1333 Meridian Ave, Miami Beach, FL 33139 | Multifamily | 10,501 SF | 1958 | - |
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So. Beach 29-Unit Multifamily Portfolio
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