For Sale
$4,600,000

1115 Euclid Ave Miami Beach, FL 33139

16-unit apartment building, high occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional investment opportunity presents a 16-unit apartment building situated in Miami Beach's desirable Art Deco District at 1115 Euclid Ave, 33139. The property, boasting 8,860 square feet on a 0.16-acre lot, is a Class B multifamily asset built in 1950 and extensively renovated in 2021. Currently operating at 100% occupancy, the building generates a substantial NOI of $202,783, representing a 4.41% cap rate. Pro-forma projections indicate a NOI of $224,489 and a 4.88% cap rate. The asking price is $4,600,000, translating to $287,500 per unit and $519.19 per square foot. The two-story building features impact windows and a new roof (installed in 2024). A 40-year certification was successfully completed in March 2020, with the next certification due in March 2030. This stabilized investment offers a compelling return on investment in a prime Miami Beach location. The property is not subject to a ground lease. The Miami-Dade County property's APN is 06-2230-000-0320.

Highlights

  • $4,600,000 asking price for a stabilized multifamily investment.
  • 16-unit apartment building in Miami Beach, FL.
  • 8,860 square feet, with a price per square foot of $519.19.
  • 4.41% cap rate, 4.88% pro-forma cap rate.
  • 100% occupancy, $202,783 NOI, $224,489 pro-forma NOI.
  • Class B building, built in 1950, renovated in 2021.

Property Details for 1115 Euclid Ave

Property type
Apartment buildings
Square Feet
8,860 SF
Class
B
Year Built/Renovated
1950/2021
Buildings
1
Stories
2
Lot Size (sq. ft)
6,970 SF
Units
16

Location Insight

City
Miami Beach
County
Miami-Dade
State
Florida
Latitude
25.782217644936
Longitude
-80.13515378644

FAQs

What type of property is this?
Apartment building - 16-unit apartment building, high occupancy.
Where is the apartment building located?
The property is located at 1115 Euclid Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: $4,600,000 asking price for a stabilized multifamily investment.; 16-unit apartment building in Miami Beach, FL.; 8,860 square feet, with a price per square foot of $519.19.
How can I contact the broker?
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1115 Euclid Ave
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