USAFLMiami Beach¤Ocean Beach Addn No 3828 Pennsylvania Ave

828 Pennsylvania Ave, Miami Beach, FL

Real Estate

For Sale

Listed price in listed location currency (USD).

$3,200,000

000

MLS® F10546676

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Commercial Sale

Size -

Garage No

HOA Fees

Taxes $39,072

Days Active 3

Approx. Age 1928

MLS® Number F10546676

Property Address: 828 Pennsylvania Ave, Miami Beach, FL, 33139-5711

Average square foot calculated using Size range provided by listing agent.

Description

Attractive multifamily 12-unit boutique property in the heart of the popular and highly desirable Flamingo Submarket of South Beach. Located two blocks away from the beach, the property is well-maintained and fully-leased. Brand new roof put on in 2025. Constructed in 1928 and partially renovated in 2024, the property has a rentable square footage of 5, 862 and is situated on 0.16 acres of land, consisting of a unit mix of three studio and nine one-bedroom apartments with upgraded units featuring renovated bathrooms and kitchens with stainless steel appliances. Cap Rate 4.5%, 2025 Effective Gross Income: $241, 000, 2025 Net Operating Income: $140, 700Pro Forma Cap Rate: 6.6%, Pro Forma EGI: $317, 000, Pro Forma NOI: $211, 000 Attractive multifamily 12-unit boutique property in the heart of the popular and highly desirable Flamingo Submarket of South Beach. Located two blocks away from the beach, the property is well-maintained and fully-leased. Brand new roof in 2025.Constructed in 1928 and partially renovated in 2024, the property has a rentable square footage of 5, 862 and is situated on 0.16 acres of land, consisting of a unit mix of three studio and nine one-bedroom apartments with upgraded units featuring renovated bathrooms and kitchens with stainless steel appliances. Residents also benefit from the convenience of an on-site laundry facility. Units have a mix of wall and central air conditioning.The property offers an investor the opportunity to acquire an excellently located two-story Art Deco style building that reflects the charm of Miami Beach in a bygone era. In addition, the in-place renovations afford an investor the opportunity to raise rents immediately or continue to upgrade units and execute a value-added strategy.Cap Rate 4.5%, Effective Gross Income: $241, 000, Net Operating Income: $140, 700Pro Forma Cap Rate: 6.6%, Pro Forma EGI: $317, 000, Pro Forma NOI: $211, 000

MLS® NumberF10546676

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1928

Stories

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Feb 1, 2026List Date

$3,200,000List Price

Commute

Commute

Starting Address

Destination Address

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