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Income/MultiFamily in Miami Beach

$2,150,000

Brickellsold Estimate* (fallback: list price)$2,150,000 (list price)
For Sale
bedrooms

n/a

bathrooms

n/a

Square Footage

n/a

Type of Property

Income/MultiFamily, Commercial Sale

Details

Overview

Sub Type
Income/MultiFamily
Built In
1947
Taxes
$41,610/yr

Description

Unique opportunity to acquire this Land Lease with excellent income-producing 14-unit multifamily building in the heart of South Beach. Building offers a healthy unit mix, fully rented, low expenses, quality long-term tenants. Favorable land lease structure expiring in 22 years, low fixed annual lease payment for the entirety of the lease term with no escalations! NEW ROOF being installed prior to closing! Great cap rate in a strong rental market with upside on rents, financing opportunities available. Located in the heart of South Beach and the historic Art Deco District, ideally situated just steps away from the world famous Lincoln Road and its promenade of 200+ retail shops, restaurant and cafes. Building is well-kept and well-managed. Financials available upon request.

This income/multifamily home located at 531 16th St, Miami Beach FL 33139 is currently for sale and has been available on Brickellsold for 453 days. This property is listed at $2M. It has N/A beds, N/A bathrooms, and is N/A square feet. It was built in 1947. 531 16th St, Miami Beach FL 33139 is in Miami Beach county Miami-Dade County.

Interior

Features
  • Flooring:
  • Common walls with other units/homes:
Heating
Cooling
Appliances
Total structure area
10,820

Property

Parking
  • Parking Features: On Street
Parcel Number
02-32-34-002-0680
Features
  • Entry location:
  • Exterior Features:
  • View Description:

Construction

Property subtype
Income/MultiFamily, Commercial Sale
Materials
Condition
  • Year Built: 1947

Community & HOA

Community
  • Security Features:
HOA
  • Amenities:
Region
Miami Beach

Financial

Taxes
$41,610/yr
On Market Date
7/13/2023
Listing Terms
Cash, Conventional/Refinance

Metadata

Added
8/2/2023
Updated
10/9/2024
MLS#
A11420681
Days on Market
453
Listed By
Avanti Way Commercial
Originating MLS
A-Miami Association of REALTORS

Neighborhood Insights

School and crime data are from public sources and are informational only.

Nearby Schools

Within 5 miles

  • Miami Beach Adult & Community Education Center • 0.0 mi • K-12
  • Miami Beach Fienberg/Fisher K-8 Center • 0.0 mi • K-12
  • Miami Beach Senior High • 0.0 mi • K-12
  • Miami Beach South Pointe Elementary • 0.0 mi • K-12
  • North Beach Elementary • 0.0 mi • K-12
  • Miami Beach Nautilus Middle • 0.0 mi • K-12

Nearby Hospitals

Within 3 miles

No nearby hospitals found.

Crime Overview

Crime data unavailable for this area.

Map

Price History

EventPriceDate
Original list price$2,400,000Aug 2, 2023
Current list price$2,150,000Jul 30, 2024

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Compare this income/multifamily with current Miami Beach, FL inventory, nearby properties, local market context, and practical Miami buyer guidance. Listing prices and availability are refreshed from the MLS.