531 16 St Miami Beach, FL 33139

This exceptional 14-unit multifamily property, located at 531 16th Street in Miami Beach, Florida, presents a unique investment opportunity. Built in 1947, this two-story building boasts a healthy unit mix and is currently 100% occupied with quality, long-term tenants. The property benefits from a favorable land lease structure with a remaining term of 22 years, featuring a low, fixed annual lease payment with no escalations, providing predictable and stable operating expenses. A brand new roof is being installed before closing, eliminating a significant capital expenditure for the new owner. This well-maintained and well-managed building is situated in the heart of South Beach's Art Deco District, steps from the vibrant Lincoln Road Mall with its numerous shops, restaurants, and cafes. The strong rental market offers significant upside potential for rental income. The asking price is $2,150,000, and financial details are available upon request. This presents a compelling opportunity for investors seeking a high-cap rate investment in a prime South Beach location with significant long-term growth prospects. Financing options may be available. The property's zip code is 33139, and it is located in Miami-Dade County.