Multifamily Redevelopment
For Sale
Contact for pricing
Pending
1 ALHAMBRA PLAZA PH SUITE/MULTIFAMILY, Miami, FL 33134
Off-market project proposed for HOA-to-multifamily conversion with a future multi-tower concept and beach sand access.
Property Size1,200,000 SF
Days on Market146
Property Features for 1 ALHAMBRA PLAZA PH SUITE/MULTIFAMILY
General Information
Standard status
Pending
Size
1,200,000 SF
Property subtype
Multifamily
Additional Details
Cap Rate
6%
Multifamily Units
1,200
Listing Agency:
Cresglobal Corporate Real Estate Soluttions LLC
Listed By:
Corporate Real Estate Solutions LLC/CRESGLOBAL Douglas Taber Executive Director/George L. Castilla CEO/CIO · License #FL CQ-1037240
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Aug 31 at 7:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cresglobal Corporate Real Estate Soluttions LLC
Investment Insights
Based on property information with market context.
Off-market developer investment opportunity for an HOA to multifamily conversion and future redevelopment. The offering materials describe a proposed multi-tower concept for a multi-family resort with beach sand access, supported by conceptual redevelopment images only.
The project is presented as a three-tower plan totaling approximately 1.2 million SF and roughly 1,200 units, as referenced in the municipal building code notes within the materials. The seller states an initial starting price of $200M, with final terms to be determined through best-and-final negotiations among financially pre-qualified investors selected by the HOA and unit ownership.
The package further discusses a non-binding financial pro-forma including a referenced class B+ HOA and 362-unit ownership, along with a described leaseback structure and NOI ranges in the materials. Access to the financial, legal, and due diligence work product is described as contingent on delivering an executed NDA/LOI in accordance with the stated protocol, including proof of funds requirements.
The project is presented as a three-tower plan totaling approximately 1.2 million SF and roughly 1,200 units, as referenced in the municipal building code notes within the materials. The seller states an initial starting price of $200M, with final terms to be determined through best-and-final negotiations among financially pre-qualified investors selected by the HOA and unit ownership.
The package further discusses a non-binding financial pro-forma including a referenced class B+ HOA and 362-unit ownership, along with a described leaseback structure and NOI ranges in the materials. Access to the financial, legal, and due diligence work product is described as contingent on delivering an executed NDA/LOI in accordance with the stated protocol, including proof of funds requirements.
Key Highlights
- Off‑market HOA‑to‑multifamily conversion project with future redevelopments proposed as a multi‑family resort with beach sand access
- Concept proposes 3 towers and approximately 1.2M SF for about 1,200 units (as per municipal building code stated in materials)
- Starting price noted as $200M; final price to be determined via best‑and‑final call among selected investors for the HOA and unit ownership
Property Analytics
Current Use
Lease Details
1200
Residential units
Location Intelligence
Trade Area within ½ mile
8,856
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Off-market project proposed for HOA-to-multifamily conversion with a future multi-tower concept and beach sand access.
Where is this apartment building located?
The property is located at 1 ALHAMBRA PLAZA PH SUITE/MULTIFAMILY Miami, FL.
What are key features of this property?
This property features: Off‑market HOA‑to‑multifamily conversion project with future redevelopments proposed as a multi‑family resort with beach sand access; Concept proposes 3 towers and approximately 1.2M SF for about 1,200 units (as per municipal building code stated in materials); Starting price noted as $200M; final price to be determined via best‑and‑final call among selected investors for the HOA and unit ownership
