Two-Story Waterfront Apartment
8035 Crespi Boulevard Miami Beach, FL 33141
For Sale
$6,800,000
Art Deco two-story building with 14 completely remodeled units and boat docks for up to eight vessels.
Property Size14,614 SF
Price / SF$465.31
Days on Market994
Property Features for 8035 Crespi Boulevard
General Information
- Standard status
- Active
- Size
- 14,614 SF
- Property subtype
- Commercial/Industrial / Income/Multi Family
Building Details
- Year Built
- 1959
Listing Agency:
Sportimmo Agency LLC
(305) 420-6611
Listed By:
Patrice Scemana · License #3361755
(305) 420-6611
Source:
Compass
Added: Nov 3, 2023
Changed: Jul 22
Last Checked: Jul 23 at 9:25AM
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 Sportimmo Agency LLC
Investment Insights
Based on property information with market context.
This Art Deco two-story waterfront apartment building includes 14 completely remodeled units. The unit mix consists of six 2-bedroom, two-bath units and eight 1-bedroom units, with several 2/2 residences featuring waterfront views and terraces. Updates include quartz and marble countertops and vanities in the units, along with high-impact UV-filtered windows. Laundry is available in the building, and a few units include washer and dryer. A new roof is also noted.
The property sits along the water’s edge and features boat docks accommodating eight boats, with a capacity up to 33 feet. The grounds are gated and include a courtyard with a pool and an area designated for tenant enjoyment.
The overall configuration combines residential income space with on-site dock amenities and shared outdoor recreation areas.
The property sits along the water’s edge and features boat docks accommodating eight boats, with a capacity up to 33 feet. The grounds are gated and include a courtyard with a pool and an area designated for tenant enjoyment.
The overall configuration combines residential income space with on-site dock amenities and shared outdoor recreation areas.
Key Highlights
- 1959 Art Deco, two‑story waterfront building with 14 remodeled units
- Unit mix: six 2.5‑bedroom units (with four offering waterfront and terrace) and eight 1.5‑bedroom units
- Boat docks on‑site for up to 8 boats, with capacity up to 33 feet
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $427.9k | $29.28 |
| − Vacancy | −$19.3k | −$1.32 |
| EGI | $408.6k | $27.96 |
| − OpEx | −$183.9k | −$12.58 |
| NOI | $224.8k | $15.38 |
14,614 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.21M
$2.81M – $3.75M
NOI $224,753 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.41M
$6.49M – $8.65M
NOI $519,001 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Art Deco two-story building with 14 completely remodeled units and boat docks for up to eight vessels.
Where is this apartment building located?
The property is located at 8035 Crespi Boulevard Miami Beach, FL.
What is the asking price?
The asking price for this property is $6,800,000.
What are key features of this property?
This property features: 1959 Art Deco, two‑story waterfront building with 14 remodeled units; Unit mix: six 2.5‑bedroom units (with four offering waterfront and terrace) and eight 1.5‑bedroom units; Boat docks on‑site for up to 8 boats, with capacity up to 33 feet
