Investment Overview

Marcus & Millichap is pleased to present Bela Vista, a (12)-unit apartment complex located in North Miami Beach, Florida. SUBJECT PROPERTY Bela Vista was constructed in 1967 and comprised of (2) two-story concrete block buildings with painted stucco exteriors and shingle roofs. The property offers 8,963 square feet of total building area and sits on an 11,500-square-foot lot (0.26 acres), according to the Miami-Dade County Property Appraiser. The unit mix includes (8) one-bedroom/one-bathroom units and (4) two-bedroom/two-bathroom units. The property features on-site laundry facilities, central air conditioning, and standard life-safety components including smoke detectors and fire extinguishers. The property is zoned RM-23. LOCATION Bela Vista is located in North Miami Beach, Florida, offering residents convenient access to Biscayne Boulevard (US-1) and Dixie Highway. The surrounding 3-mile area reports an average household income of $93,448 and population growth of 7.77% since 2010. Residents are within walking distance to Victory Park & Pool and the Julius Littman Performing Arts Theater, with a short drive to Aventura Mall, Sunny Isles Beach, Haulover Beach, and surrounding retail, dining, and employment centers. Surrounding area retailers and points of interest include Judge Arthur Snyder Tennis Center (0.3 miles), North Miami Beach Police Department (0.4 miles), Julius Littman Performing Arts Theater (0.4 miles), Victory Park Pool (0.4 miles), Greynolds Park / Greynolds Golf Course (0.8 miles) Houston’s (0.9 miles), Morton’s The Steakhouse (0.9 miles), P.F. Chang’s (1.0 miles) and Plum Market (1.1 miles). Additionally, just a short drive from the property is, The Vitamin Shoppe/BurgerFi/Panera Bread (1.3 miles), Fresh Market (1.4 miles), Dick’s Sporting Goods (1.5 miles), Walgreens Pharmacy (1.7 miles), Brightline Station (Aventura) (2.3 miles), Aventura Mall (2.3 miles), and Fort Lauderdale-Hollywood International Airport (14.4 miles). Nearby educational facilities include North Miami Beach High School (1.2 miles), John F. Kennedy Middle School (1.5 miles), Saint Lawrence Elementary School (1.8 miles), and Scheck Hillel Community School K-12 (1.9 miles). SUMMARY Bela Vista is being offered for sale at $2,520,000 or $210,000 per unit.