531 16th St - Apartments FOR SALE


Miami Beach, FL 33139- City Center
$1,700,000 USD
786-512-3745
531 16th St, Miami Beach, FL for Sale
$1,700,000 USD
Apartments - FOR SALE
1/26
null | Request Cap Rate

531 16th St
Miami Beach, FL 33139
City Center


OVERVIEW

Unique opportunity to acquire this Land Lease with excellent income-producing 14-unit multifamily building in the heart of South Beach. Building offers a healthy unit mix, fully rented, low expenses, quality long-term tenants. Favorable land lease structure expiring in 20 years, low fixed annual lease payment for the entirety of the lease term with no escalations! NEW ROOF! Completed December 2024. Great cap rate in a strong rental market with upside on rents, financing opportunities available. Located in the heart of South Beach and the historic Art Deco District, ideally situated just steps away from the world-famous Lincoln Road and its promenade of 200+ retail shops, restaurant and cafes. Building is well-kept and well-managed. Financials available upon request.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$173 USD /SF

# OF UNITS

14

PRICE/UNIT

$121,429

CAP RATE

Request Cap Rate

% 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

1947

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,143 SF

ZONING

RM-1

APN/PARCEL ID

02-3234-002-0680

ASK ABOUT THIS PROPERTY

Fernando ArencibiaAvanti Way CommercialMore Info
786-512-3745

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Fernando ArencibiaAvanti Way CommercialMore Info
786-512-3745

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