Commercial property in Miami Beach, Florida № 1933300

Property description

Noble Pine Tree Apartments is a unique investment opportunity for investors looking to enter the Mid-Beach market and own 12 operating residential units. All units are fully renovated, with most featuring new in-unit washer/dryers. The unit mix includes (1) two-bedroom, (5) one-bedrooms, and (6) studios. The current average rent per unit is $2,175. Though there are 12 operating units, the building was originally constructed as 8 legal units. The property has been thoughtfully upgraded over time, with modern cabinetry, tile flooring, updated appliances, new vanities, lighting, countertops, and select kitchenettes. In-Place NOI: $223,472. In-Place Cap Rate: 5.88%. Building Size: 5,983 SF. Lot Size: 8,580 SF.