1440 Pennsylvania Ave - Apartments FOR SALE


Miami Beach, FL 33139- Flamingo
$2,300,000 USD
954-661-4908
1440 Pennsylvania Ave, Miami Beach, FL for Sale
$2,300,000 USD
Apartments - FOR SALE
1/7
null | 5% Cap Rate

1440 Pennsylvania Ave
Miami Beach, FL 33139
Flamingo


HIGHLIGHTS

  • Access & Connectivity
  • Area Amenities & Demand Drivers
  • High Upside Potential
  • Strong Rental Demographics & Demand
  • Quality of Life Amenities

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 1440 Pennsylvania Avenue in Miami Beach, FL (the “Property”). The two-story building contains four (4) 2-Bedroom/1-Bathroom units and two (2) 1-Bedroom/1-Bathroom units, with 4,331 square feet of gross living area and 4,903 square feet of gross area. The Property is situated upon a 0.09- acre parcel and offers street parking. 1440 Pennsylvania Avenue is ideally situated in the heart of South Beach, just steps from Lincoln Road, Ocean Drive, and Miami Beach’s world-famous shoreline. The property benefits from strong pedestrian and vehicle visibility, with immediate access to surrounding retail, dining, hospitality, and entertainment amenities that define the area’s dynamic lifestyle. UNIQUE MULTI-USE OPPORTUNITY – MIAMI BEACH This property presents a rare combination of current income and future flexibility. It is presently leased and operated as a multifamily rental, generating stable returns. However, what sets this building apart is its ability “as-of-right” to operate as a licensed short-term rental property in Miami Beach. Given the city’s restrictive short-term rental policies, very few properties qualify for this use without the need for variances or special approvals. This flexibility allows an investor to continue benefitting from reliable multifamily income today, while retaining the option to reposition the asset into a higher-yield short-term rental operation. This dual-use potential makes the property an exceptional investment opportunity—balancing steady cash flow with the upside of a rare and highly sought-after use category in Miami Beach. 4

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$541 USD /SF

# OF UNITS

6

PRICE/UNIT

$383,333

CAP RATE

5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hispaniola House

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1938

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,751 SF

ZONING

RM-1, County

APN/PARCEL ID

02-3234-015-0090

ASK ABOUT THIS PROPERTY

David CohenHorvath & TremblayMore Info
954-661-4908

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David CohenHorvath & TremblayMore Info
954-661-4908

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