Two-Story 16-Unit
934 Meridian Ave Miami Beach, FL 33139
New
934 Meridian Ave, Miami Beach, FL, 33139
$4,300,000
For Sale
$4,300,000
MULTI_FAMILY - Miami Beach, FL
Property Size8,807 SF
Lot Size0.16 Acres
Price / SF$488.25
Days on Market3
Property Features for 934 Meridian Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- APN
- 02-42-03-009-4370
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Description
- 3-4 54 42 34 53 42 OCEAN BEACH ADDN NO 3 PB 2-81 LOT 4 BLK 70 LOT SIZE 50.000 X 140 OR 10020 1445 0478 4
Building Details
- Year built
- 1959
- Number of units
- 16
Listing agency
Beachfront Realty Inc
(305) 405-0615
Listed by
Marilina Apfelbaum · License #0662372
(786) 287-3633
Added: Jul 20 Checked: Jul 22 at 5:06PM
MLS# A12056657
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.
Investment Insights
Based on property information with market context.
This two-story multifamily property offers 16 residential units comprising 14 studios and two one-bedroom/one-bath residences. The building totals 8,807 SF, situated on a 7,000 SF lot. Capital improvements include a new roof and a new water heater.
The property is zoned RM-1 and located in Miami Beach on Meridian Avenue, positioned near Flamingo Park, Washington Avenue, Lincoln Road, Espanola Way, Ocean Drive, and the beach.
Seller-provided financial information indicates an annualized T-10 NOI of $221,799, reflecting a 5.16% current cap rate (as stated).
The property is zoned RM-1 and located in Miami Beach on Meridian Avenue, positioned near Flamingo Park, Washington Avenue, Lincoln Road, Espanola Way, Ocean Drive, and the beach.
Seller-provided financial information indicates an annualized T-10 NOI of $221,799, reflecting a 5.16% current cap rate (as stated).
Key Highlights
- Two‑story, 16‑unit South Beach multifamily built in 1959
- Unit mix: 14 studio units and 2 one‑bedroom/one‑bath residences
- Total size 8,807 SF on a 7,000 SF lot
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $257.9k | $29.28 |
| − Vacancy | −$11.6k | −$1.32 |
| EGI | $246.3k | $27.96 |
| − OpEx | −$110.8k | −$12.58 |
| NOI | $135.4k | $15.38 |
8,807 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.26M
NOI $135,446 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.47M
$3.91M – $5.21M
NOI $312,771 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two-story 16-unit building with 14 studios and two 1BR/1BA units, zoned RM-1.
Where is this apartment building located?
The property is located at 934 Meridian Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Two‑story, 16‑unit South Beach multifamily built in 1959; Unit mix: 14 studio units and 2 one‑bedroom/one‑bath residences; Total size 8,807 SF on a 7,000 SF lot
