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    1770 Meridian Ave Miami Beach, FL 33139

    For Sale
    $12,990,000

    Prime Location, 31 Units, High Occupancy

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 31-unit multifamily property, located at 1770 Meridian Ave in Miami Beach, Florida, presents a compelling investment opportunity. Built in 1954, this two-story building boasts a desirable corner location between the Miami Beach Golf Club and Lincoln Road, offering unparalleled convenience and access to vibrant amenities. Across the street lies the new 5.8-acre Pride Park, the Miami Beach Convention Center, and City Hall, further enhancing its strategic position. The property features a mix of studio, one-bedroom, and two-bedroom units (22 studios, 4 one-bedrooms, and 5 two-bedrooms), all situated within a lush, tropical courtyard setting. A convenient on-site laundry room adds to the resident experience. Currently operating with high occupancy and strong cash flow, this asset presents an attractive opportunity for immediate income generation. The RM-2 zoning allows for the addition of over 14,000 square feet, opening doors to significant expansion or redevelopment potential, catering to both short-term and long-term rental strategies. The asking price for this income-producing property is $12,990,000. This is a rare chance to acquire a well-positioned multifamily asset in a world-class destination. The property is being sold as-is.

    Property Features for 1770 Meridian Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1954
    Buildings
    1
    Stories
    2

    HighLights

    • $12,990,000 Asking Price
    • 31‑unit multifamily building in Miami Beach, FL
    • 1954 construction, two‑story building
    • Mix of studio, one-, and two‑bedroom units
    • RM‑2 zoning allows for significant expansion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    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
    -80.137014
    Latitude
    25.7934207

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    FAQs

    What type of property is this?
    Multifamily property - Prime Location, 31 Units, High Occupancy
    Where is this multifamily property located?
    The property is located at 1770 Meridian Ave Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $12,990,000.
    What are key features of this property?
    This property features: $12,990,000 Asking Price; 31-unit multifamily building in Miami Beach, FL; 1954 construction, two-story building
    (305) 695-4253
    Request Owner's contact information
    1770 Meridian 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
    1770 Meridian Ave Miami Beach, FL 33139
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