924 Marseille Dr - Apartments FOR SALE


Miami Beach, FL 33141- Normandy Isles
$4,140,000 USD
954-245-3492
924 Marseille Dr, Miami Beach, FL for Sale
$4,140,000 USD
Apartments - FOR SALE
1/36
null | 5% Cap Rate

924 Marseille Dr
Miami Beach, FL 33141
Normandy Isles


HIGHLIGHTS

  • 3-Story Building, 1926 Construction with 18 Units Located on Normandy Isle in Miami Beach
  • Unit Mix of (11) Studios, (4) One-Bedroom | One-Bathroom, (3) Two-Bedroom | One-Bathroom Units
  • Extensively Renovated Units Featuring Central A/C, Tile Flooring, Electric Appliances, Modern Baths
  • Walking Distance to Miami Beach Tennis Center, North Shore Park & Youth Center, Miami Beach Bandshell, Walgreens, Normandy Isle Park & Pool, Publix

OVERVIEW

Ocean 18 Lofts is a three-story, 18-unit multifamily property originally constructed in 1926 and extensively renovated in 2023. The building is of concrete block construction with a painted stucco exterior and flat roof. The property contains approximately 11,437 square feet of gross building area and 10,625 square feet of gross leasable area, situated on a 9,375-square-foot lot, according to the Miami-Dade County Property Appraiser. The unit mix consists of eleven (11) studio apartments, four (4) one-bedroom/one-bathroom units, and three (3) two-bedroom/one-bathroom units. Units feature central air conditioning, updated interiors, and modern finishes, with on-site laundry available for tenant convenience. Utilities include city water and sewer paid by ownership, while electric service is individually metered and paid by tenants.

FOR SALE DETAILS

PRICE

$4,140,000 USD

PRICE/SF

$362 USD /SF

# OF UNITS

18

PRICE/UNIT

$230,000

CAP RATE

5%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ocean 18 Lofts

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

RM-1

APN/PARCEL ID

02-3210-013-0310

ASK ABOUT THIS PROPERTY

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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

Joseph ThomasMarcus & MillichapMore Info
954-245-3492

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