1355-1357 Drexel Ave - Apartments FOR SALE


Miami Beach, FL 33139- Flamingo
$7,250,000 USD
305-209-8866
1355-1357 Drexel Ave, Miami Beach, FL for Sale
$7,250,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate

1355-1357 Drexel Ave
Miami Beach, FL 33139
Flamingo


HIGHLIGHTS

  • Fully licensed and legally operating 18-unit short-term rental property in Miami Beach
  • Turnkey asset delivered fully furnished with immediate, stabilized cash flow
  • Prime Flamingo/Lummus location steps from the beach, Ocean Drive, and Collins Ave
  • High occupancy and strong ADR performance supported by year-round tourism demand
  • Extremely limited supply of compliant STR properties due to strict city regulations
  • Modernized suites with full kitchens and on-site laundry, enabling efficient operations and guest satisfaction

OVERVIEW

The Porosoff Group is pleased to exclusively present 1355 Drexel Avenue, an exceptionally rare opportunity to acquire a fully licensed, turnkey 18-unit short-term rental property in the heart of Miami Beach—one of the most supply-constrained and tightly regulated short-term rental environments in the United States. Strategically located just steps from Ocean Drive, Collins Avenue, and Lincoln Road, the property offers unparalleled access to Miami Beach’s premier dining, entertainment, and beachfront destinations. Legal short-term rental zoning, combined with the property’s strong operational track record, positions 1355 Drexel as a secure and scalable investment in a market where compliant STR assets are exceedingly scarce. The property features 18 modernized suites, each equipped with full kitchens, in-unit or onsite laundry, Wi-Fi/cable, and contemporary interior finishes that cater to the expectations of today’s short-term guest. The building has been consistently maintained and designed for efficient remote or on-site management, contributing to stable year-round occupancy and above-market ADRs. With regulatory barriers preventing new STR supply and Miami Beach tourism demand continuing to rise, 1355 Drexel Ave offers investors a durable, high-yield cash flow opportunity with strong intrinsic real estate fundamentals.

FOR SALE DETAILS

PRICE

$7,250,000 USD

PRICE/SF

$1,169 USD /SF

# OF UNITS

10

PRICE/UNIT

$725,000

CAP RATE

Request Cap Rate

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1935

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,437 SF

ZONING

CD-2

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Arthur PorosoffCompass Florida LLCMore Info
305-209-8866

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Arthur PorosoffCompass Florida LLCMore Info
305-209-8866

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