14-Unit Short-Term Rental
1321 15th, Miami Beach, FL 33139
For Sale
$3,985,000
Licensed, furnished accommodations with kitchenettes are configured for short-term guest stays.
Property Size7,924 SF
Price / SF$502.90
Days on Market18
Property Features for 1321 15th
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Furnished
Multifamily Units
Currently Operating
Building Details
Building Size
Buildings
Units
Listing Agency:
Elite Ocean View Realty LLC
(305) 600-1278
Listed By:
Teodoro Palmieri · License #3066859
(786) 380-0581
Source:
Futureoptionrealty
Added: Oct 23
Changed: Nov 6
Last Checked: Nov 8 at 2:06PM
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 Elite Ocean View Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Miami Beach property contains 14 legal short-term rental units and is licensed for transient stays. The accommodations are furnished, with kitchenettes and modernized interiors. The property is located at 1321 15th St. in the West Avenue district, near Lincoln Road, Sunset Harbour dining, and the oceanfront.
Key Highlights
- 14 legal short‑term rental units
- Licensed for short‑term rentals
- Units are furnished and include kitchenettes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,962
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,459,240
$2.5M
Cap Rate 7%
$1,756,600
$1.8M
Cap Rate 9%
$1,366,244
$1.4M
Market Conditions
NOI Build-Up for 7,924 SF
Gross rent
$239.6K $30.24/SF
− Vacancy
−$16.1K −$2.03/SF
EGI
$223.6K $28.21/SF
− OpEx
−$100.6K −$12.70/SF
NOI
$123.0K $15.52/SF
Area
Miami-Dade County, FL
Vacancy
6.70%
Lease Rate
$30.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,459,240
Cap Rate 7%
$1,756,600
Cap Rate 9%
$1,366,244
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.05M
NOI $122,962 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.33M
$3.79M – $5.05M
NOI $302,897 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
8,611
Businesses Nearby
Explore this area
Business Placement
Demographics for 33139, FL
36,286
Population
30,166
Households
1.2
Avg Household Size
43
Median Age
53%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
12,959
Density / Sq Mi
$63,368
Median Household Income
$48,608
Median Earnings
$1,745
Median Rent
$480,500
Median Home Value
Market
Average Price Trend$/SF for Short term rental properties in Miami Beach, FL
Properties on Market for Short term rental properties in Miami Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - Licensed, furnished accommodations with kitchenettes are configured for short-term guest stays.
Where is this short term rental property located?
The property is located at 1321 15th Miami Beach, FL.
What is the asking price?
The asking price for this property is $3,985,000.
What are key features of this property?
This property features: 14 legal short‑term rental units; Licensed for short‑term rentals; Units are furnished and include kitchenettes
