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    Renovated Six-Unit Multifamily Building Title is generated by Realmo AI

    1438 Meridian Ave, Miami Beach, FL 33139

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    New
    For Sale
    $2,400,000

    Fourplex, Quadruplex - Miami Beach, FL

    Type:Quadruplex
    Property size:
    4,644 SF
    Price / SF:
    $516/SF
    Added:
    Jun 4, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 8 at 9:06 am

    Property Features for 1438 Meridian Ave

    General Information

    Property type
    Residential
    Property subtype
    Quadruplex
    Zoning
    2800
    Bedrooms
    6
    Bathrooms
    6
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Exterior features
    Balcony
    Standard status
    Active
    APN
    02-32-34-015-0260
    Size
    4,644 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    24505

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1936
    Flooring type
    Hardwood, Tile, Wood
    Building materials
    Block
    Roof type
    Built-Up
    Architectural style
    Other

    We can help!

    Listing Contact
    Jordan Lederman

    Listing agent Jordan Lederman License #3245821

    Listing office Fortune International Realty 1300 Brickell Ave., Miai, FL

    Listing date Jun 4, 2026

    MLS# A12023899 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully renovated 6‑unit multifamily building in South Beach with six 1‑bed/1‑bath units (2 loft‑style residences, 4 standard 1‑bed/1‑bath).
    • Currently 100% occupied; tenants have annual leases providing in‑place rental stability.
    • Gut‑renovated with all‑new plumbing, electrical, HVAC, roof, and impact windows.
    • Art Deco block construction, built in 1936; built‑up roof and central air (electric).
    • In‑unit finishes include Brazilian Cherrywood/wood floors, tile, granite and quartz countertops, stainless steel appliances, and in‑unit washer/dryers.
    • Upper‑level units feature cathedral‑style ceilings and exterior includes a balcony.

    Overview

    This renovated Art Deco multifamily property offers six 1-bedroom/1-bath units, including two loft-style residences and four standard one-bedroom units. The building has undergone gut renovation with all-new plumbing, electrical, HVAC systems, roof, and impact windows. Interior finishes include Brazilian cherrywood and wood flooring throughout, granite and quartz countertops, stainless steel appliances, and designer cabinetry. Upper-level units feature cathedral-style ceilings, and each unit includes an in-unit washer/dryer.

    Located at 1438 Meridian Ave in Miami Beach, the property is directly across from Flamingo Park. Public remarks indicate immediate access to park amenities, including 17 tennis courts, an aquatic center, and tropical grounds. The area is described as being near Lincoln Road and Española Way, with the beach referenced as approximately four blocks away.

    For buyers seeking a turnkey rental property, the building is currently 100% occupied, and public remarks state that all tenants have annual leases. The property also notes completion of a 40/50-year structural certification. For complete financials, rent roll details, and a private showing, contact the listing agent.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Real Estate Agency Nail Salon Food Market Daycare Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.136602
    Latitude
    25.786654

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    FAQs

    What type of property is this?
    Apartment building - Turnkey six-unit Art Deco building with impact windows and in-unit washers and dryers, fully renovated and leased.
    Where is this apartment building located?
    The property is located at 1438 Meridian Ave Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Fully renovated 6‑unit multifamily building in South Beach with six 1‑bed/1‑bath units (2 loft‑style residences, 4 standard 1‑bed/1‑bath).; Currently 100% occupied; tenants have annual leases providing in‑place rental stability.; Gut‑renovated with all‑new plumbing, electrical, HVAC, roof, and impact windows.
    (248) 701-5200
    We can help!
    Listing Contact
    Jordan Lederman
    Real Estate License ID: 3245821
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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