1124 Pennsylvania Ave ,Attached, Quadruplex, Ocean Beach Addn No 3 for Sale

1124 Pennsylvania Ave for Sale

Price $3,500,000.00

• Lot size 8140
• Year Build 1948
• Waterfront
• Zip 33139
• Style Attached
• Parking Description
• Pool Yes
• Status Active

Description

Exclusive Investment Opportunity in Miami Beach Almost completely renovated 12-unit, 8,140 SF low-rise building seamlessly blends historic charm with modern appeal, offering investors a prime multifamily asset in a prestigious location. Property Highlights: ? Turnkey Investment ? Fully renovated with new roof (August 2024) ? Strong Rental History ? 95% occupancy rate, ensuring stable cash flow ? Unit Mix & Sizes: 8 Studios (Avg. 500 SF) ? Rented at $1,650/month - 4 One-Bedroom Units (Avg. 700 SF) ? Rented at $2,100/month ? Recertification Passed ? Fully compliant and up to code ? Projected Cap Rate: 6.76% upon rental completion ART DECO` DISTRICT

Submit all offers via MLS Offers: https://www.mlsoffers.com/propertysearch.php?mls=

OCEAN BEACH ADDN NO 3 PB 2-81 LOT 3 BLK 42 LOT SIZE 50.000 X 140 OR 21070-1416 0203 1

Less Than 1/4 Acre Lot

Exclusive Investment Opportunity in Miami Beach Almost completely renovated 12-unit, 8,140 SF low-rise building seamlessly blends historic charm with modern appeal, offering investors a prime multifamily asset in a prestigious location. Property Highlights: ? Turnkey Investment ? Fully renovated with new roof (August 2024) ? Strong Rental History ? 95% occupancy rate, ensuring stable cash flow ? Unit Mix & Sizes: 8 Studios (Avg. 500 SF) ? Rented at $1,650/month - 4 One-Bedroom Units (Avg. 700 SF) ? Rented at $2,100/month ? Recertification Passed ? Fully compliant and up to code ? Projected Cap Rate: 6.76% upon rental completion ART DECO` DISTRICT

City:Miami Beach,Roof:1:Flat Roof With Facade Front,Zoning:3900,List A O R:A-Miami Association of REALTORS,Stories:2,Tax Year:2024,Latitude:25.7824807,Cooling Y N:1,Heating Y N:1,List Price:3500000,Listing Id:A11758768,Longitude:-80.1344077,Mls Status:Active,Year Built:1948,Living Area:8140,Postal Code:33139,Street Name:Pennsylvania Ave,Coordinates:1:25.7824807,Photos Count:48,Building Name:OCEAN BEACH ADDN NO 3,Days On Market:6,Listing Terms:1:Conventional,2:Cryptocurrency,3:Exchange,Lot Size Units:Square Feet,M I A M I R E_ Area:42,M L S Area Major:Ocean Beach Addn No 3,On Market Date:2025-03-01,Parcel Number:02-42-03-009-1040,Property Type:Residential Income,Rent Includes:1:Pest Control,2:Sewer,3:Trash Collection,4:Water,Stories Total:2,Street Number:1124,Association Y N:1,M I A M I R E_ Style:Fourplex,Public Remarks:Exclusive Investment Opportunity in Miami Beach Almost completely renovated 12-unit, 8,140 SF low-rise building seamlessly blends historic charm with modern appeal, offering investors a prime multifamily asset in a prestigious location. Property Highlights: ? Turnkey Investment ? Fully renovated with new roof (August 2024) ? Strong Rental History ? 95% occupancy rate, ensuring stable cash flow ? Unit Mix & Sizes: 8 Studios (Avg. 500 SF) ? Rented at $1,650/month - 4 One-Bedroom Units (Avg. 700 SF) ? Rented at $2,100/month ? Recertification Passed ? Fully compliant and up to code ? Projected Cap Rate: 6.76% upon rental completion ART DECO` DISTRICT,Structure Type:1:Fourplex,County Or Parish:Miami-Dade County,List Office Name:The Keyes Company,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:4562,Property Sub Type:Quadruplex,State Or Province:FL,Subdivision Name:OCEAN BEACH ADDN NO 3,Tax Annual Amount:33824,Unparsed Address:1124 Pennsylvania Ave, Miami Beach FL 33139,Listing Agreement:Exclusive Agency,Year Built Details:Resale,Building Area Total:8140,Building Area Units:Square Feet,M I A M I R E_ L P Amt Sq Ft:429.9754,Original List Price:3500000,Public Survey Range:42,Documents Available:1:Deposit - Security,2:Financial Statement,3:Copy Of Lease(S),4:Rent Rolls,5:Service Contracts,I D X Participation Y N:1,Syndication Remarks:Exclusive Investment Opportunity in Miami Beach Almost completely renovated 12-unit, 8,140 SF low-rise building seamlessly blends historic charm with modern appeal, offering investors a prime multifamily asset in a prestigious location. Property Highlights: ? Turnkey Investment ? Fully renovated with new roof (August 2024) ? Strong Rental History ? 95% occupancy rate, ensuring stable cash flow ? Unit Mix & Sizes: 8 Studios (Avg. 500 SF) ? Rented at $1,650/month - 4 One-Bedroom Units (Avg. 700 SF) ? Rented at $2,100/month ? Recertification Passed ? Fully compliant and up to code ? Projected Cap Rate: 6.76% upon rental completion ART DECO` DISTRICT,Listing Contract Date:2025-03-01,Originating System I D:miamire,Public Survey Section:3,Showing Instructions:24 Hour Notice,Call Listing Agent,Showing Assist,Street Number Numeric:1124,Tax Legal Description:OCEAN BEACH ADDN NO 3 PB 2-81 LOT 3 BLK 42 LOT SIZE 50.000 X 140 OR 21070-1416 0203 1,Public Survey Township:42,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Adjusted Area S F:7102,Association Fee Frequency:Annually,M I A M I R E_ Internet Remarks:renovated 12-unit, 8,140 SF low-rise building Art Deco` District, offering investors a prime multifamily asset in a prestigious location.,M I A M I R E_ Showing Time Flag:1,Contract Status Change Date:2025-03-01,Internet Address Display Y N:1,Number Of Units In Community:1,Internet Consumer Comment Y N:1,M I A M I R E_ Ok To Advertise List:With Written Broker Approval,M I A M I R E_ Typeof Association:1:Other,M I A M I R E_ Attribution Contact:305-898-7224,Internet Entire Listing Display Y N:1,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:429.98,Internet Automated Valuation Display Y N:1,