Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Park View Island Apartments, an 18-unit apartment building located in the North Beach section of Miami Beach, Florida. Park View Island Apartments was originally constructed in 1958 of concrete block and painted stucco. The property is comprised of approximately 12,538 sqft, according to the Miami-Dade tax record. This is the first time the property is offer for Sale in over twenty years. The unit mix is comprised of one, (1) Studio, 12 one-bedroom / one-bathroom apartments, two, (2) two-bedroom / one-bathroom apartments and three, (3) two-bedroom / two-bathroom apartments. Amenities include a laundry facility on the back of the building, off-street parking, and a central courtyard. Miami Beach is a south Florida Island city, connected by bridges to mainland Miami. Wide Beaches stretch from North Shore Open Space Park, past palm lined Lummus Park to South Pointe Park. The Southern end, South Beach, is known for its world-renowned restaurants and its early-20th-century architecture in the Art Deco Historic District with pastel-colored buildings, especially in Ocean Drive. North Beach is in the process of major gentrification with the addition of the Miami Beach Town Center District that spans from 69th Street to 72nd Street and from Collins Avenue to Dickens Avenue. This area allows for much denser development than the surrounding area, which has attracted major investment in the immediate area and will further enhance the neighborhood. There are several other major developments in the area including Terra Groups Eighty-Seven Park and the Ocean terrace property which has been in planning and approval stages for over a year. The Atlantic Ocean is a short walk to the east as well as the restaurants and shops on Harding and Collins Avenue. Surfside and the Bal Harbour Shops and within a mile to the north and South Beach is just a few minutes’ drive to the south.