For Sale
$2,800,000

763 Pennsylvania AveMiami Beach, FL 33139

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

Overview

Added:
Dec 11, 2024
Days on market:
116
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.

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 Details for 763 Pennsylvania Ave

Property type
Apartment buildings, Small apartment buildings
Year Built
1936
Stories
3
Units
13

Location Insight

City
Miami Beach
County
Miami-Dade
State
Florida
Latitude
25.7781689
Longitude
-80.1337743
763 Pennsylvania Ave, Miami Beach, Florida

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763 Pennsylvania Ave
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