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    1345 Pennsylvania Ave Miami Beach, FL 33139

    For Sale
    $5,999,999

    19-Unit Multifamily, Ocean Drive Proximity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    Exceptional investment opportunity: a 19-unit multifamily building located at 1345 Pennsylvania Ave, Miami Beach, Florida, 33139. This three-story building, constructed in 1924, offers a compelling mix of 12 one-bedroom, one-bathroom units and 7 studio units, each with a full bathroom. All units are fully furnished and equipped with televisions, adding immediate rental income potential. A convenient on-site laundry facility enhances tenant satisfaction. The property's prime location places it within easy reach of Ocean Drive, Lincoln Road, and Espanola Way, as well as the beautiful beaches of Miami Beach. The asking price is $5,999,999. The property is being sold "as is." Interested parties should be prepared to provide proof of funds and schedule showings in advance. This is a rare chance to acquire a well-situated, income-generating property in a highly desirable area of Miami Beach. The building consists of one structure and presents a strong opportunity for immediate return on investment.

    Property Features for 1345 Pennsylvania Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1924
    Buildings
    1
    Stories
    3

    HighLights

    • $5,999,999 asking price.
    • Multifamily property.
    • 1924 construction.
    • Three‑story building with 19 units.
    • 12 one‑bedroom/one‑bathroom units and 7 studio units.
    • Fully furnished with laundry facilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Hair Salon Realty agency Nail Salon Food Market Clothing Store Daycare Center

    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
    -80.1338279
    Latitude
    25.7849559

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    FAQs

    What type of property is this?
    Multifamily property - 19-Unit Multifamily, Ocean Drive Proximity
    Where is this multifamily property located?
    The property is located at 1345 Pennsylvania Ave Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $5,999,999.
    What are key features of this property?
    This property features: $5,999,999 asking price.; Multifamily property.; 1924 construction.
    Request Owner's contact information
    1345 Pennsylvania Ave Miami Beach, FL 33139
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    Miami Beach, FL 33139
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    1345 Pennsylvania Ave Miami Beach, FL 33139
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