12-Unit Art Deco Apartment Building

828 Pennsylvania Ave, Miami Beach, FL 33139

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For Sale

$2,990,000

Well-maintained 12-unit building two blocks from the beach with updated kitchens, baths, and on-site laundry.

Type:Commercial

Property size:

5,862 SF

Lot size:

0.16 Acres

Price / SF:

$510/SF

HighLights

12‑unit multifamily building built in 1928 with partial renovations in 2024 and a brand‑new roof installed in 2025
Two blocks from the beach; Art Deco‑style two‑story building in the Flamingo Submarket of South Beach
Rentable SF: 5,862 on 0.16 acres, with a unit mix of 3 studios and 9 one‑bedroom apartments
Renovated/upgraded units feature renovated bathrooms and kitchens with stainless steel appliances
Investor/income details: Cap rate 4.5% with 2025 EGI of $241,000 and NOI of $140,700; pro forma cap rate 6.25% with pro forma EGI $305,580 and pro forma NOI $200,000
Resident convenience: on‑site laundry; units have a mix of wall and central air conditioning

We can help!

Listing Contact

Albert Simon

Learn more

For Sale

$2,990,000

Well-maintained 12-unit building two blocks from the beach with updated kitchens, baths, and on-site laundry.

Type:Commercial

Property size:

5,862 SF

Lot size:

0.16 Acres

Price / SF:

$510/SF

Added:: Jun 12, 2026
Days on Market:: 11
Last Refresh:: Jun 13 at 2:32 am

Property Features for 828 Pennsylvania Ave

General Information

Standard status: Active
Size: 5,862 SF
Lot size: 0.16 Acres
Property subtype: Commercial

Building Details

Year Built: 1928

We can help!

Listing Contact

Albert Simon

Listing agent Albert Simon License #3629204

Listing office LoKation Real Estate

Listing date Jun 12, 2026

Source Elliman

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 LoKation Real Estate

HighLights

12‑unit multifamily building built in 1928 with partial renovations in 2024 and a brand‑new roof installed in 2025
Two blocks from the beach; Art Deco‑style two‑story building in the Flamingo Submarket of South Beach
Rentable SF: 5,862 on 0.16 acres, with a unit mix of 3 studios and 9 one‑bedroom apartments
Renovated/upgraded units feature renovated bathrooms and kitchens with stainless steel appliances
Investor/income details: Cap rate 4.5% with 2025 EGI of $241,000 and NOI of $140,700; pro forma cap rate 6.25% with pro forma EGI $305,580 and pro forma NOI $200,000
Resident convenience: on‑site laundry; units have a mix of wall and central air conditioning

Overview

This is a well-maintained, two-story Art Deco multifamily property originally constructed in 1928 and partially renovated in 2024. The building offers 12 residential units with a mix of three studios and nine one-bedroom apartments. Upgraded units include renovated bathrooms and kitchens featuring stainless steel appliances. Residents also benefit from an on-site laundry facility. Climate control is provided with a mix of wall and central air conditioning. A brand-new roof was installed in 2025.

The property is located in the heart of the Flamingo Submarket of South Beach, approximately two blocks from the beach. The building is currently fully leased. The asset sits on 0.16 acres of land and includes 5,862 rentable square feet.

For investors, this fully leased boutique building combines in-place upgrades with the character of Miami Beach’s Art Deco architecture. The 2024 partial renovation and 2025 roof replacement help support a turnkey ownership experience, while the renovated unit interiors may allow an owner to continue improving and refining the property over time.

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Local Demand

City: Miami Beach
County: Miami-Dade
State: Florida
Longitude: -80.134266
Latitude: 25.778916

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For sale
Apartment buildings
FL
Miami Beach
33139
828 Pennsylvania Ave

What type of property is this?

Apartment building - Well-maintained 12-unit building two blocks from the beach with updated kitchens, baths, and on-site laundry.

Where is this apartment building located?

The property is located at 828 Pennsylvania Ave Miami Beach, FL.

What is the asking price?

The asking price for this property is $2,990,000.

What are key features of this property?

This property features: 12‑unit multifamily building built in 1928 with partial renovations in 2024 and a brand‑new roof installed in 2025; Two blocks from the beach; Art Deco‑style two‑story building in the Flamingo Submarket of South Beach; Rentable SF: 5,862 on 0.16 acres, with a unit mix of 3 studios and 9 one‑bedroom apartments