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

2822 Pine Tree Dr for Sale

Price $4,000,000.00

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

Description

ATTENTION INVESTORS! Noble Pine Tree Apartments is a rare opportunity for investors looking to enter the Mid-Beach market and own 12 move-in ready residences. All units are fully renovated, with most featuring new in-unit washer/dryers. The unit mix includes (1) two-bedroom, (5) one-bedrooms, and (6) studios. The current average rent per unit is $2,175. Though there are 12 operating units, the building was originally constructed as 8 legal units. The property has been thoughtfully upgraded over time, with modern cabinetry, tile flooring, updated appliances, new vanities, lighting, countertops, and select kitchenettes. In-Place NOI: $232,202. In-Place Cap Rate: 5.4%.

With limited inventory and high barriers to entry in this pocket of Miami Beach, the location speaks for itself. The property sits on an 8,580 SF lot with a shared yard, porches, seating areas, hammocks, and umbrellas?creating a unique community feel. Surrounded by multi-million-dollar homes on prestigious Pine Tree Drive and just a 5-minute walk to the beach, the location is second to none. It's also just steps from the upcoming Bayshore Park?one of Miami Beach?s most exciting developments. For investors seeking a solid asset in one of Miami Beach?s most desirable neighborhoods, Noble Pine Tree Apartments checks all the boxes.

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

ATTENTION INVESTORS! Noble Pine Tree Apartments is a rare opportunity for investors looking to enter the Mid-Beach market and own 12 move-in ready residences. All units are fully renovated, with most featuring new in-unit washer/dryers. The unit mix includes (1) two-bedroom, (5) one-bedrooms, and (6) studios. The current average rent per unit is $2,175. Though there are 12 operating units, the building was originally constructed as 8 legal units. The property has been thoughtfully upgraded over time, with modern cabinetry, tile flooring, updated appliances, new vanities, lighting, countertops, and select kitchenettes. In-Place NOI: $232,202. In-Place Cap Rate: 5.4%.

City:Miami Beach,Zoning:3900,List A O R:A-Miami Association of REALTORS,Stories:2,Latitude:25.8053273,List Price:4000000,Listing Id:A11790372,Longitude:-80.128315,Mls Status:Active,Year Built:1935,Postal Code:33140,Street Name:Pine Tree Dr,Coordinates:1:25.8053273,Photos Count:22,Days On Market:1,Lot Size Units:Square Feet,M I A M I R E_ Area:32,On Market Date:2025-04-24,Parcel Number:02-32-27-004-0220,Property Type:Commercial Sale,Stories Total:2,Street Number:2822,Public Remarks:ATTENTION INVESTORS! Noble Pine Tree Apartments is a rare opportunity for investors looking to enter the Mid-Beach market and own 12 move-in ready residences. All units are fully renovated, with most featuring new in-unit washer/dryers. The unit mix includes (1) two-bedroom, (5) one-bedrooms, and (6) studios. The current average rent per unit is $2,175. Though there are 12 operating units, the building was originally constructed as 8 legal units. The property has been thoughtfully upgraded over time, with modern cabinetry, tile flooring, updated appliances, new vanities, lighting, countertops, and select kitchenettes. In-Place NOI: $232,202. In-Place Cap Rate: 5.4%.,County Or Parish:Miami-Dade County,List Office Name:Compass Florida, LLC.,Private Remarks:With limited inventory and high barriers to entry in this pocket of Miami Beach, the location speaks for itself. The property sits on an 8,580 SF lot with a shared yard, porches, seating areas, hammocks, and umbrellas?creating a unique community feel. Surrounded by multi-million-dollar homes on prestigious Pine Tree Drive and just a 5-minute walk to the beach, the location is second to none. It's also just steps from the upcoming Bayshore Park?one of Miami Beach?s most exciting developments. For investors seeking a solid asset in one of Miami Beach?s most desirable neighborhoods, Noble Pine Tree Apartments checks all the boxes.,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:43631,Unparsed Address:2822 Pine Tree Dr, Miami Beach FL 33140,Listing Agreement:Exclusive Right To Sell,Building Area Total:5983,Building Area Units:Square Feet,Lot Size Square Feet:8580,Number Of Buildings:2,Original List Price:4000000,Public Survey Range:32,I D X Participation Y N:1,Net Operating Income:232202,Syndication Remarks:ATTENTION INVESTORS! Noble Pine Tree Apartments is a rare opportunity for investors looking to enter the Mid-Beach market and own 12 move-in ready residences. All units are fully renovated, with most featuring new in-unit washer/dryers. The unit mix includes (1) two-bedroom, (5) one-bedrooms, and (6) studios. The current average rent per unit is $2,175. Though there are 12 operating units, the building was originally constructed as 8 legal units. The property has been thoughtfully upgraded over time, with modern cabinetry, tile flooring, updated appliances, new vanities, lighting, countertops, and select kitchenettes. In-Place NOI: $232,202. In-Place Cap Rate: 5.4%.,Listing Contract Date:2025-04-24,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:CALLING ALL INVESTORS! Own 12 renovated units in Mid-Beach w/ $232K NOI, 5.4% cap, in-unit W/Ds, & strong rents. Rare value-add opportunity!,M I A M I R E_ Showing Time Flag:1,Contract Status Change Date:2025-04-24,Internet Address Display Y N:1,Number Of Units In Community:12,M I A M I R E_ Ok To Advertise List:With Written Broker Approval,Internet Entire Listing Display Y N:1,