- MLS® #: F10546676
- 828 Pennsylvania Avenue
- Miami Beach, FL 33139
- $3,200,000
- 0.16 Acres
- Commercial Sale
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: 6.25%, Pro Forma EGI: $305,580, Pro Forma NOI: $200k 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: 6.25%, Pro Forma EGI: $305,580, Pro Forma NOI: $200k
Essential Information
- MLS® #F10546676
- Price$3,200,000
- Acres0.16
- Year Built1928
- TypeCommercial Sale
- Sub-TypeMulti Family
- StatusActive
Community Information
- Address828 Pennsylvania Avenue
- Area2420
- CityMiami Beach
- CountyMiami-Dade
- StateFL
- Zip Code33139
Additional Information
- Date ListedFebruary 2nd, 2026
- Days on Website50
- Zoning3900
- Office: Lokation
Property Location
828 Pennsylvania Avenue on www.jupiterabacoahomes.us
Offered at the current list price of $3,200,000, this home for sale at 828 Pennsylvania Avenue features bedrooms and 0 bathrooms. This real estate listing is located in of Miami Beach, FL 33139 . 828 Pennsylvania Avenue is listed under the MLS ID of F10546676 and has been available through www.jupiterabacoahomes.us for the Miami Beach real estate market for 50 days.Facts About Miami Beach, FL
Over the past 20 years, no American beach has generated as much buzz as the one that hugs Ocean Drive in Miami Beach. Fringed with palms, backed by Art Deco architecture and pulsating with urban energy, South Beach is the place to stretch out.
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Listing information last updated on April 6th, 2026 at 8:35am CDT.