924 Marseille Dr ,Free Standing, Residential-multi-family for Sale

924 Marseille Dr for Sale

Price $5,200,000.00

• Lot size 11437
• Year Build 1926
• Waterfront
• Zip 33141
• Style
• Parking Description
• Pool Yes
• Status Active

Description

Ocean 18 Lofts (924 Marseille Dr) is a three-story Art Deco apartment building featuring 18 fully renovated units in the heart of North Beach. The unit mix comprises of 7 standard studios, 4 large studios, 4 one-bedroom apartments, and 3 two-bedroom apartments. Most units come fully furnished. The property is fully occupied with a current average rent of $1,851. With significantly below-market rents, there is a potential rental upside of $75,900 annually ($350+ per unit per month) aligning with current market rates. Renovations include: New bathrooms with glass enclosures, new stainless steel appliances, updated cabinetry, updated PVC plumbing, new electrical system, porcelain tile flooring, new lighting, new fixtures, new doors with keyless entry, fully furnished, and quartz countertops.

2-3-10-11 53 42 OCEAN SIDE SEC OF ISLE OF NORMANDY PB 25-60 LOT 4 & W25FT LOT 4A BLK 3 LOT SIZE 75.000 X 125 COC 23756-2763 08 2005 5

Ocean 18 Lofts (924 Marseille Dr) is a three-story Art Deco apartment building featuring 18 fully renovated units in the heart of North Beach. The unit mix comprises of 7 standard studios, 4 large studios, 4 one-bedroom apartments, and 3 two-bedroom apartments. Most units come fully furnished. The property is fully occupied with a current average rent of $1,851. With significantly below-market rents, there is a potential rental upside of $75,900 annually ($350+ per unit per month) aligning with current market rates. Renovations include: New bathrooms with glass enclosures, new stainless steel appliances, updated cabinetry, updated PVC plumbing, new electrical system, porcelain tile flooring, new lighting, new fixtures, new doors with keyless entry, fully furnished, and quartz countertops.

City:Miami Beach,Zoning:3900,List A O R:A-Miami Association of REALTORS,Latitude:25.8564151,List Price:5200000,Listing Id:A11601414,Longitude:-80.129115,Mls Status:Active,Year Built:1926,Postal Code:33141,Street Name:Marseille Dr,Coordinates:1:25.8564151,Photos Count:24,Days On Market:50,Lot Size Units:Square Feet,M I A M I R E_ Area:32,On Market Date:2024-05-14,Parcel Number:02-32-10-013-0310,Property Type:Commercial Sale,Street Number:924,Public Remarks:Ocean 18 Lofts (924 Marseille Dr) is a three-story Art Deco apartment building featuring 18 fully renovated units in the heart of North Beach. The unit mix comprises of 7 standard studios, 4 large studios, 4 one-bedroom apartments, and 3 two-bedroom apartments. Most units come fully furnished. The property is fully occupied with a current average rent of $1,851. With significantly below-market rents, there is a potential rental upside of $75,900 annually ($350+ per unit per month) aligning with current market rates. Renovations include: New bathrooms with glass enclosures, new stainless steel appliances, updated cabinetry, updated PVC plumbing, new electrical system, porcelain tile flooring, new lighting, new fixtures, new doors with keyless entry, fully furnished, and quartz countertops.,County Or Parish:Miami-Dade County,List Office Name:STL Advisors, LLC,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:2902,Property Sub Type:Income/MultiFamily,State Or Province:FL,Unparsed Address:924 Marseille Dr, Miami Beach FL 33141,Listing Agreement:Exclusive Agency,Building Area Total:9375,Building Area Units:Square Feet,Lot Size Square Feet:11437,Original List Price:5200000,Public Survey Range:32,I D X Participation Y N:1,Syndication Remarks:Ocean 18 Lofts (924 Marseille Dr) is a three-story Art Deco apartment building featuring 18 fully renovated units in the heart of North Beach. The unit mix comprises of 7 standard studios, 4 large studios, 4 one-bedroom apartments, and 3 two-bedroom apartments. Most units come fully furnished. The property is fully occupied with a current average rent of $1,851. With significantly below-market rents, there is a potential rental upside of $75,900 annually ($350+ per unit per month) aligning with current market rates. Renovations include: New bathrooms with glass enclosures, new stainless steel appliances, updated cabinetry, updated PVC plumbing, new electrical system, porcelain tile flooring, new lighting, new fixtures, new doors with keyless entry, fully furnished, and quartz countertops.,Listing Contract Date:2024-05-14,Originating System I D:miamire,Public Survey Section:10,Street Number Numeric:924,Tax Legal Description:2-3-10-11 53 42 OCEAN SIDE SEC OF ISLE OF NORMANDY PB 25-60 LOT 4 & W25FT LOT 4A BLK 3 LOT SIZE 75.000 X 125 COC 23756-2763 08 2005 5,Public Survey Township:32,Originating System Name:Miami Association of REALTORS?,Sub Agency Compensation:0%,M I A M I R E_ Internet Remarks:-,Contract Status Change Date:2024-05-14,Internet Address Display Y N:1,Number Of Units In Community:1,M I A M I R E_ Ok To Advertise List:No,Transaction Broker Compensation:2%,Internet Entire Listing Display Y N:1,M I A M I R E_ Compensation Disclaimer:BBC: 2%, The offer of compensation is made only to participants of the MLS where the listing is filed.,Transaction Broker Compensation Type:%,