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    763 Pennsylvania Ave Miami Beach, FL 33139

    For Sale
    $2,800,000

    Prime South Beach location, 13 furnished studios, high rental income.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents a portfolio of thirteen fully furnished studios within the Royal South Beach Condo, a three-story building constructed in 1936 and recently recertified. Ideally situated in Miami Beach, Florida, at 763 E Pennsylvania Ave, 33139, this property boasts a prime location steps from the beach, Lincoln Road, and Española Way. The 13 units, totaling 4,411 square feet, are fully equipped kitchenettes, legally approved for both short-term and long-term rentals. Owners can choose self-management or participate in the hotel program. The building's 24-hour front desk and concierge services, along with all utilities, are included in the HOA monthly fee. Complete unit inventory and condo documents are available. This multifamily property (Apartment Building, Duplex/Triplex/Quadruplex subtype) offers significant potential for rental income, making it an attractive investment. The asking price for the entire portfolio is $2,800,000. The building comprises 42 units in total.

    Property Features for 763 Pennsylvania Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1936
    Stories
    3
    Units
    13

    HighLights

    • Prime Miami Beach location at 763 E Pennsylvania Ave, 33139, steps from the beach, Lincoln Road, and Española Way.
    • Portfolio of 13 fully furnished studios totaling 4,411 square feet in a recently recertified 3‑story building (1936).
    • Legally approved for short‑term and long‑term rentals, offering flexible management options (self‑management or hotel program).
    • $2,800,000 asking price for the entire portfolio of 13 units.
    • Building amenities include 24‑hour front desk and concierge service; all utilities included in HOA fees.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Food Market Realty agency Daycare Center Clothing 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
    -80.1337743
    Latitude
    25.7781689

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    FAQs

    What type of property is this?
    Multifamily property - Prime South Beach location, 13 furnished studios, high rental income.
    Where is this multifamily property located?
    The property is located at 763 Pennsylvania Ave Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: Prime Miami Beach location at 763 E Pennsylvania Ave, 33139, steps from the beach, Lincoln Road, and Española Way.; Portfolio of 13 fully furnished studios totaling 4,411 square feet in a recently recertified 3-story building (1936).; Legally approved for short-term and long-term rentals, offering flexible management options (self-management or hotel program).
    Request Owner's contact information
    763 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
    763 Pennsylvania Ave Miami Beach, FL 33139
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