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Multifamily

350 69th Street Apartments

350 69th St, Miami Beach, FL 33141

Listing Price: $2,800,000

Cap Rate
5.45%
Number of Units
10
GRM
10.98
Occupancy
97.0%
Price/Unit
$280,000
Price/Gross SF
$337.35
Gross SF
8,300

Investment Overview

350 69th Street is a ten-unit, two-story apartment building located on the corner of 69th Street and Abbott Avenue, in the North Beach area of Miami Beach. The property has been extensively renovated by the current ownership over the last few years. The building has an attractive unit mix of four Studios, four one-bed/one-bath units and two, three-bed/two-bath units. The building was constructed in 1953 of concrete block construction. Water, sewer, and trash removal are included in the rent.

The property has gone through a tremendous renovation both inside and out. All units have received varying renovations ranging from full gut renovations to units, which were in better shape receiving minor upgrades. All units have new impact windows and doors, new kitchens and bathrooms, appliances, air-conditioners, flooring, lighting, plumbing fixtures, and receptacles. The exterior of the property received new landscaping, custom secured fencing, custom railing, sealcoating, and painting.

The North Beach market is in the process of revitalization and growth with the implementation of the Town Center District which spans from 69th Street, north to 72nd Street, and from Collins Avenue to the Indian Creek Waterway. The district has a high-density zoning with increased height restrictions which vary depending on the zone. There are a number of projects in various stages of development with several projects already being developed. Other projects in the area that are underway include updating the North Beach Oceanside Park and Ocean Terrace Park.

Investment Highlights

  • All Units Have Been Extensively Renovated
  • Excellent Unit Mix of Studios, 1 & 3-Bedroom Units
  • Very Strong Rental Market
  • Impact Windows and Doors
  • All Electric Appliances
  • Secured Entrances

Exclusively Listed By

Multifamily

350 69th Street Apartments

Listing Price: $2,800,000

Cap Rate
5.45%
Number of Units
10
GRM
10.98
Occupancy
97.0%
Price/Unit
$280,000
Price/Gross SF
$337.35
Gross SF
8,300

Investment Highlights

  • All Units Have Been Extensively Renovated
  • Excellent Unit Mix of Studios, 1 & 3-Bedroom Units
  • Very Strong Rental Market
  • Impact Windows and Doors
  • All Electric Appliances
  • Secured Entrances

Investment Overview

350 69th Street is a ten-unit, two-story apartment building located on the corner of 69th Street and Abbott Avenue, in the North Beach area of Miami Beach. The property has been extensively renovated by the current ownership over the last few years. The building has an attractive unit mix of four Studios, four one-bed/one-bath units and two, three-bed/two-bath units. The building was constructed in 1953 of concrete block construction. Water, sewer, and trash removal are included in the rent. The property has gone through a tremendous renovation both inside and out. All units have received varying renovations ranging from full gut renovations to units, which were in better shape receiving minor upgrades. All units have new impact windows and doors, new kitchens and bathrooms, appliances, air-conditioners, flooring, lighting, plumbing fixtures, and receptacles. The exterior of the property received new landscaping, custom secured fencing, custom railing, sealcoating, and painting. The North Beach market is in the process of revitalization and growth with the implementation of the Town Center District which spans from 69th Street, north to 72nd Street, and from Collins Avenue to the Indian Creek Waterway. The district has a high-density zoning with increased height restrictions which vary depending on the zone. There are a number of projects in various stages of development with several projects already being developed. Other projects in the area that are underway include updating the North Beach Oceanside Park and Ocean Terrace Park.

Exclusively Listed By

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