Waterside & Boutique Apartments Multi-Family FOR SALE


$17,000,000 USD
845-304-5148
, Miami, FL for Sale
$17,000,000 USD
Multi-Family - FOR SALE
1/21
null | 5% Cap Rate

Waterside & Boutique Apartments
Miami, FL
Upper East Side North


HIGHLIGHTS

  • Rare Opportunity To Acquire Two Well-Maintained, Sister Properties Located On The Same Block In The Exceptional Upper East Side Neighborhood Of Miami
  • The Buildings Are Located On Opposite Ends Of The Block And Comprise A Majority Of Its Acreage
  • Both Buildings Have Passed 40 & 50 Year Recertifications
  • Exterior Improvements To Waterside Include Hurricane-Impact Windows & Doors, New Roof With Insulation, Seamless Gutters, PVC Plumbing Throughout
  • Waterside Building Has New Water Heaters, Central Air Conditioning Throughout With New Duct Work & Freon Copper Lines, And New Elevator
  • Prime Location East Of Biscayne Blvd (US-1) And Bayshore Dr Ensuring Tenants A Quality Lifestyle With Close Proximity To The Water

OVERVIEW

Waterside & Boutique Apartments offers a compelling multifamily investment comprised of two buildings situated on the same block and marketed as a single, cohesive property. The offering totals 67 units within a 39,307 square foot low-rise structure, delivering meaningful scale while maintaining a classic garden-style configuration, combining vintage character with a proven multifamily layout that continues to perform well within an urban residential setting. Over time, the property has benefited from numerous renovations and capital improvements completed across different periods, reflecting ongoing ownership investment and thoughtful stewardship. These upgrades have enhanced both the physical condition and functional appeal of the buildings, positioning the asset to meet modern tenant expectations. This history of reinvestment reduces near-term capital exposure and provides a strong foundation for continued operational stability. Zoned T5-R, the property offers valuable urban residential zoning that supports long-term strategic optionality. The two-building configuration allows for efficient operations, unit mix diversification, and a boutique residential feel that is increasingly attractive to renters. For a Multifamily / Low-Rise / Garden investor, Waterside & Boutique Apartments represents an opportunity to acquire a well-maintained, scale-efficient asset with a demonstrated capital improvement history and upside potential through continued optimization.

ASK ABOUT THIS PROPERTY

Daniel DratchFranklin StreetMore Info
845-304-5148

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Daniel DratchFranklin StreetMore Info
845-304-5148

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