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    1770 Meridian Ave Miami Bch Miami Beach, FL 33139

    For Sale
    $12,990,000

    31-Unit Apartment Building, Prime Location

    Property size:
    23,234 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 31-unit apartment building presents a compelling investment opportunity in the heart of South Beach, Miami Beach, Florida. Situated on a 18,750 square foot lot at 1770 Meridian Avenue, this two-story, 23,234 square foot building boasts a desirable mix of 22 studio, 4 one-bedroom, and 5 two-bedroom units, all complemented by a convenient on-site laundry room. Built in 1954, the property features a lush, tropical courtyard setting within a gated community. Its prime corner location places it directly across from Pride Park, the Miami Beach Convention Center, and City Hall, offering unparalleled convenience and visibility. Furthermore, its proximity to Lincoln Road's vibrant shopping and dining scene, the Miami Beach Golf Club, and the Miami Beach Botanical Gardens enhances its appeal. The property's RM-2 zoning allows for the addition of over 14,000 square feet of building area, presenting significant potential for expansion or redevelopment. Currently operating as a cash-flowing asset, this property offers immediate income generation with the flexibility to renovate or redevelop for short-term or long-term rentals. The asking price is $12,990,000. This is a rare chance to acquire a high-performing multifamily asset in one of Miami Beach's most sought-after locations.

    Property Features for 1770 Meridian Ave Miami Bch

    General Information

    Property type
    Multifamily properties
    Square Feet
    23,234 SF

    Building Details

    Year Built
    1954
    Buildings
    1
    Stories
    2
    Units
    31

    HighLights

    • Gated 31‑unit apartment building with on‑site laundry.
    • Unit mix: 22 studios, 4 one‑bedrooms, 5 two‑bedrooms.
    • High‑occupancy, income‑producing property.
    • Prime location across from Pride Park, Miami Beach Convention Center, and City Hall.
    • Short walk to Miami Beach Botanical Gardens.
    • Two blocks from Lincoln Road's shops and restaurants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    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 - 31-Unit Apartment Building, Prime Location
    Where is this multifamily property located?
    The property is located at 1770 Meridian Ave Miami Bch 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: Gated 31-unit apartment building with on-site laundry.; Unit mix: 22 studios, 4 one-bedrooms, 5 two-bedrooms.; High-occupancy, income-producing property.
    Request Owner's contact information
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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 Bch Miami Beach, FL 33139
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