Investment Overview

Marcus & Millichap is pleased to present Edgewater Apartments, a 32-unit apartment community located in North Miami Beach, Florida. SUBJECT PROPERTY Edgewater Apartments comprises four two-story buildings constructed between 1958 and 1960 of concrete block and painted stucco with flat roofs. The property offers a combined 26,280 square feet of living area and sits on a 35,571-square-foot lot, according to the Miami-Dade Property Appraiser. The unit mix includes twenty-four (24) one-bedroom/one-bathroom units with an average rent of $1,721 and eight (8) two-bedroom/one-bathroom units with an average rent of $2,364. Over the past two years, the property has undergone extensive renovations. Exterior renovations include stucco repair, new exterior paint, railings, impact windows, sliding glass balcony doors, and updated landscaping. Interior renovations include new kitchens and bathrooms with stainless steel electric appliances, mini-split air conditioning units, upgraded lighting, and new tile or vinyl flooring. The property also features parking in the front and rear alley, as well as on-site laundry facilities. LOCATION Edgewater Apartments is centrally located in North Miami Beach, just west of Biscayne Boulevard (US-1) and proximate to major employment centers, retail corridors, parks, and recreational amenities. Residents enjoy walkable access to Victory Park, Victory Pool, and the Julius Littman Performing Arts Theater, while being a short drive from Aventura Mall, Sunny Isles Beach, Haulover Beach, and numerous national retailers, restaurants, and service providers. Surrounding area retailers and points of interest include the North Miami Beach Police Department (0.3 miles), Julius Littman Performing Arts Theater (0.3 miles), Victory Park & Pool (0.4 miles), Judge Arthur Snyder Tennis Center (0.5 miles), Greynolds Park/Greynolds Golf Course (1.0 miles), Houston’s (1.2 miles), Morton’s The Steakhouse (1.2 miles), P.F. Chang’s (1.3 miles), Plum Market (1.5 miles), The Vitamin Shoppe/BurgerFi/Panera Bread (1.6 miles), Fresh Market (1.8 miles), and Dicks Sporting Goods (1.9 miles). Additionally, Aventura Mall (2.8 miles), the Brightline Aventura Station (2.7 miles), and the Fort Lauderdale–Hollywood International Airport (14.3 miles) are easily accessible from the property. Nearby educational facilities include North Miami Beach High School (1.5 miles), John F. Kennedy Middle School (1.7 miles), Saint Lawrence Elementary School (2.0 miles), and Scheck Hillel Community School K-12 (2.3 miles). Nearby Developments There are several major projects near Edgewater Apartments demonstrating strong demand and future growth prospects within North Miami Beach. Palm Aire is a planned mid-rise apartment community on the former Nova Southeastern University campus along Northeast 167th Street, featuring roughly 700 market-rate units across an approximately 8-acre site with extensive indoor and outdoor amenities and structured parking. The William is a planned 26-story, 374-unit condo tower on Northeast 163rd Street featuring extensive lifestyle amenities and structured parking. Skygarden Apartments, a fully entitled 19-story project with 341 units and ground-floor retail and the mixed-use project at 17400 West Dixie Highway with 500 approved residential units, ground-floor commercial space, and an 8-level parking structure are also in the local development pipeline at this time. SUMMARY Edgewater Apartments is offered for sale unpriced, to be determined by the market. Additionally, the Seller may be willing to hold financing for qualified buyers. Please contact listing agents for more information.