2822 Pine Tree Dr ,Income Non-waterfront, Residential-multi-family for Sale

2822 Pine Tree Dr for Sale

Price $4,400,000.00

• Lot size 8580
• Year Build 1935
• Waterfront
• Zip 33140
• Style
• Parking Description
• Pool Yes
• Status Active

Description

Comprising 12 operating units, Noble Pine Tree Apartments offers a unique investment opportunity for an investor looking to break into the Mid-Beach market. All operating units are fully-renovated and a majority of the apartments have new in-unit washer/dryers. The property consists of (1) two-bedrooms, (5) one-bedrooms and (6) studios. The average in-place rent per-unit stands at $2,175. The property consists of 12 operating units; however, it was built as 8 legal/conforming units. The property has undergone significant renovations over the years including new modern cabinetry, updated appliances, modern-tile flooring, new vanities, lighting, counter tops and kitchenettes (in select units).

With the barriers to entry in this pocket being some of the highest in Miami, the location is unparalleled. Noble Pine Tree Apartments sits on a spacious 8,580 square foot lot and features a generous yard with shared porches as a common area amenity. Featuring tables, a seating area, hammocks and sun-umbrellas. It is situated next to multi-million dollar homes on Miami Beach?s prestigious Pine Tree Drive and a 5-minute walk to the beach. The subject property is also located less than a block away from one of Miami Beach?s biggest projects, Bayshore Park. This property presents an attractive option for investors looking to own a valuable asset in a highly sought-after Miami Beach location.

FAIRGREEN R/S BLKS C-D-E PB 4-154 LT 12 LESS BEG NW COR LT 11 N 14.43FTSE TO NE COR LT 11 WALG N/ L LT 11 TO POB BLK D LOT SIZE 60.000 X 143

Comprising 12 operating units, Noble Pine Tree Apartments offers a unique investment opportunity for an investor looking to break into the Mid-Beach market. All operating units are fully-renovated and a majority of the apartments have new in-unit washer/dryers. The property consists of (1) two-bedrooms, (5) one-bedrooms and (6) studios. The average in-place rent per-unit stands at $2,175. The property consists of 12 operating units; however, it was built as 8 legal/conforming units. The property has undergone significant renovations over the years including new modern cabinetry, updated appliances, modern-tile flooring, new vanities, lighting, counter tops and kitchenettes (in select units).

City:Miami Beach,Zoning:3900,List A O R:A-Miami Association of REALTORS,Stories:2,Latitude:25.8053273,List Price:4400000,Listing Id:A11672674,Longitude:-80.128315,Mls Status:Active,Year Built:1935,Postal Code:33140,Street Name:Pine Tree Dr,Coordinates:1:25.8053273,Photos Count:31,Lot Size Units:Square Feet,M I A M I R E_ Area:32,On Market Date:2024-10-07,Parcel Number:02-32-27-004-0220,Property Type:Commercial Sale,Stories Total:2,Street Number:2822,Public Remarks:Comprising 12 operating units, Noble Pine Tree Apartments offers a unique investment opportunity for an investor looking to break into the Mid-Beach market. All operating units are fully-renovated and a majority of the apartments have new in-unit washer/dryers. The property consists of (1) two-bedrooms, (5) one-bedrooms and (6) studios. The average in-place rent per-unit stands at $2,175. The property consists of 12 operating units; however, it was built as 8 legal/conforming units. The property has undergone significant renovations over the years including new modern cabinetry, updated appliances, modern-tile flooring, new vanities, lighting, counter tops and kitchenettes (in select units).,County Or Parish:Miami-Dade County,List Office Name:STL Advisors, LLC,Private Remarks:With the barriers to entry in this pocket being some of the highest in Miami, the location is unparalleled. Noble Pine Tree Apartments sits on a spacious 8,580 square foot lot and features a generous yard with shared porches as a common area amenity. Featuring tables, a seating area, hammocks and sun-umbrellas. It is situated next to multi-million dollar homes on Miami Beach?s prestigious Pine Tree Drive and a 5-minute walk to the beach. The subject property is also located less than a block away from one of Miami Beach?s biggest projects, Bayshore Park. This property presents an attractive option for investors looking to own a valuable asset in a highly sought-after Miami Beach location.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:4379,Property Sub Type:Income/MultiFamily,State Or Province:FL,Tax Annual Amount:33700,Unparsed Address:2822 Pine Tree Dr, Miami Beach FL 33140,Listing Agreement:Exclusive Agency,Building Area Total:5983,Building Area Units:Square Feet,Lot Size Square Feet:8580,Number Of Buildings:2,Original List Price:4400000,Public Survey Range:32,I D X Participation Y N:1,Net Operating Income:232202,Syndication Remarks:Comprising 12 operating units, Noble Pine Tree Apartments offers a unique investment opportunity for an investor looking to break into the Mid-Beach market. All operating units are fully-renovated and a majority of the apartments have new in-unit washer/dryers. The property consists of (1) two-bedrooms, (5) one-bedrooms and (6) studios. The average in-place rent per-unit stands at $2,175. The property consists of 12 operating units; however, it was built as 8 legal/conforming units. The property has undergone significant renovations over the years including new modern cabinetry, updated appliances, modern-tile flooring, new vanities, lighting, counter tops and kitchenettes (in select units).,Listing Contract Date:2024-10-07,Originating System I D:miamire,Public Survey Section:27,Street Number Numeric:2822,Tax Legal Description:FAIRGREEN R/S BLKS C-D-E PB 4-154 LT 12 LESS BEG NW COR LT 11 N 14.43FTSE TO NE COR LT 11 WALG N/ L LT 11 TO POB BLK D LOT SIZE 60.000 X 143,Public Survey Township:32,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:Cash-flowing multifamily in Mid-Beach - 12-Units - Renovated/Updated - Prime Miami Beach location,Contract Status Change Date:2024-10-07,Internet Address Display Y N:1,Number Of Units In Community:12,M I A M I R E_ Ok To Advertise List:No,Internet Entire Listing Display Y N:1,