Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale 1035 9th Street, a 22-unit apartment building located in (South Beach) Miami Beach, Florida. SUBJECT PROPERTY 1035 9th Street is a 22-unit, two-story apartment building constructed in 1958 with 12,408 (gross) square feet and a 10,400 square foot lot, according to the Miami Dade Property Appraiser. The unit mix is comprised of (14) studio apartments and (8) one-bedroom | one-bath apartments. The property has undergone extensive capital improvements totaling over $700,000. Most units feature comprehensive interior renovations valued at $400,000, including new kitchens and bathrooms with modern appliances, luxury vinyl plank or tile flooring, updated vanities, and contemporary light fixtures. Exterior improvements totaling $300,000 include a complete building repaint and the installation of new hurricane-resistant impact windows and doors. Amenities include a garden-style courtyard, limited on-site parking, and on-site laundry facilities. The property received its most recent building recertification in 2018. LOCATION 1035 9th Street is located just one block east of Alton Road and two blocks south of Flamingo Park, a popular destination for locals and tourists alike, which features 17 tennis courts, a baseball stadium, handball and racquetball courts, a softball field, a basketball court, a football field, a soccer field, a running track, children’s playground, walking trails and a bark park. Additionally, within walking distance from the property is Whole Foods Market (0.2 miles), Publix Supermarket at 5th & Alton (0.3 miles), CVS Pharmacy located on Ocean Drive (0.6 miles), Miami Beach Marina (0.7 miles), Lummus Park (0.8 miles) and Walgreens Pharmacy (0.9 miles). The property is also a short walk to numerous shopping, dining and entertainment attractions, including the Versace Mansion (0.8 miles), Lincoln Road (1.0 miles) one of the top retail destinations in the United States featuring over 200 retailers, restaurants and galleries, Joes Stone Crab (1.0 miles), the New World Center (1.2 miles), the Miami Beach Convention Center (1.6 miles), Collins Park (1.7 miles) and the Miami Beach Golf Club (1.7 miles). Nearby educational facilities include South Pointe Elementary School (0.4 miles), Feinberg Fisher K-8 (0.9 miles), Miami Beach Senior High (1.7 miles) and RASG Hebrew Academy (2.2 miles). SUMMARY 1035 9th Street is being offered for sale at $5,500,000.