705 Lenox Ave - Apartments FOR SALE


Miami Beach, FL 33139- Flamingo
$2,475,000 USD
786-443-3105
705 Lenox Ave, Miami Beach, FL for Sale
$2,475,000 USD
Apartments - FOR SALE
1/27
null | Request Cap Rate

705 Lenox Ave
Miami Beach, FL 33139
Flamingo


HIGHLIGHTS

  • Lowest per unit deal on SOBE
  • Located in heart of South Beach
  • Available individually or part of larger SOBE portfolio

OVERVIEW

• The property has 2 parking spaces • Includes community laundry • 1 new washer/1 new dryer installed (exterior) on 3.12.25, new contract with WASH Laundry • Has 4 units that are considered suites with no kitchens, just refrigerators • Has over $140,000 in combined CapEx between current and previous owner • Corner exposure at the NE corner of Lenox and 7th Street • Building exterior gate installation in 10/2021 ($12k). 40-year work: Railing Refurbishment $10k • Building exterior fully painted 05/2025 ($35k) • Currently pending approval for full roof replacement, substantial tile repairs completed in November 2024 (around $35k)

FOR SALE DETAILS

PRICE

$2,475,000 USD

PRICE/SF

$448 USD /SF

# OF UNITS

13

PRICE/UNIT

$190,385

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1936

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,501 SF

ZONING

RM-1

APN/PARCEL ID

02-4203-009-7560

ASK ABOUT THIS PROPERTY

Calum WeaverCBREMore Info
786-443-3105

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Calum WeaverCBREMore Info
786-443-3105

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