1240 14th St - Apartments FOR SALE


Miami Beach, FL 33139- West Avenue
$3,990,000 USD
305-374-3434
1240 14th St, Miami Beach, FL for Sale
$3,990,000 USD
Apartments - FOR SALE
1/41
null | 5.18% Cap Rate

1240 14th St
Miami Beach, FL 33139
West Avenue


OVERVIEW

PRIME CORNER LOT | 12-UNIT MULTIFAMILY | 100% OCCUPIED | VALUE-ADD OPPORTUNITY Presenting an exceptional investment opportunity — a fully occupied, 12-unit multifamily asset ideally positioned on a highly visible corner lot. This well-performing property offers investors immediate cash flow with significant upside potential through strategic rent increases. Property Highlights: The asset consists of 10 one-bedroom/one-bathroom units and 2 two-bedroom/two-bathroom units, spread across a total building size of 13,300 square feet. The spacious, generously sized floor plans are a key differentiator, driving strong tenant retention and supporting premium rental rates — making these units among the most desirable in the submarket. 100% occupancy demonstrates the property’s consistent desirability and the strength of local rental demand. Current rents remain below market, presenting a clear value-add opportunity for an investor to execute a strategic rent repositioning strategy and unlock meaningful upside in NOI and overall asset value. Additional highlights include onsite parking, an amenity that commands added appeal in today’s competitive rental market and serves as a strong retention tool for tenants. The corner lot positioning provides superior visibility, accessibility, and curb appeal — attributes that contribute to the property’s lasting tenant demand and long-term asset appreciation. Investment Summary: · 12 Total Units · Unit Mix: 10 x 1BD/1BA | 2 x 2BD/2BA · Total Building Size: 13,300 SF · Occupancy: 100% · Onsite Parking · Below-Market Rents | Strong Value-Add Upside · Corner Lot | High Visibility Location This is a rare opportunity to acquire a stabilized, income-producing asset with immediate cash flow and a clear path to forced appreciation through organic rent growth. Please reach out to Esther to schedule a showing at 786.359.8373

FOR SALE DETAILS

PRICE

$3,990,000 USD

PRICE/SF

$377 USD /SF

# OF UNITS

12

PRICE/UNIT

$332,500

CAP RATE

5.18%

% LEASED

-

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,501 SF

ZONING

RM-1, Miami Beach

APN/PARCEL ID

02-3233-018-0010

ASK ABOUT THIS PROPERTY

Eddy MartinezCervera Real EstateMore Info
305-374-3434

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Eddy MartinezCervera Real EstateMore Info
305-374-3434

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.