531 16th St, Miami Beach, FL 33139
531 16th St, Miami Beach, FL 33139
531 16th St, Miami Beach, FL 33139
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Monica Cataluña, CCIM, ALC

Monica Cataluña, CCIM, ALC

+1(954) 812-1831
$1,700,000
Est. payment /mo
10,820 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 10,820 sqft

Price per Sqft $157

MLS Listing ID A11975379

HOA Y/N No

Year Built 1947

Lot Size 8,000 Sqft

Property Sub-Type Multi Family

Property Description

Unique opportunity to acquire this Land Lease with excellent income-producing 14-unit multifamily building in the heart of South Beach. Building offers a healthy unit mix, fully rented, low expenses, quality long-term tenants. Favorable land lease structure expiring in 20 years, low fixed annual lease payment for the entirety of the lease term with no escalations! NEW ROOF! Completed December 2024. Great cap rate in a strong rental market with upside on rents, financing opportunities available. Located in the heart of South Beach and the historic Art Deco District, ideally situated just steps away from the world-famous Lincoln Road and its promenade of 200+ retail shops, restaurant and cafes. Building is well-kept and well-managed. Financials available upon request.

Location

State FL

County Miami-dade

Area 32

Zoning 3900

Exterior

Private Pool Yes

Building

Story 2

Level or Stories Two

Others

Tax ID 02-32-34-002-0680

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://www.propertypanorama.com/instaview/mia/A11975379

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Miami Association of Realtors (SEFMIAMI MLS)
Listed by Avanti Way Commercial

Nearby Locations

Monica Cataluña, CCIM, ALC

"We recognize that real estate ventures involve more than just transactions; they’re intricate puzzles that demand strategic thinking and a keen understanding of the numbers. With years of experience in the industry, we bring a wealth of knowledge and expertise to the table, ensuring that every client receives tailored solutions to meet their unique needs."

+1(954) 812-1831

monica@koresrealty.com

2665 Executive Park Drive, Suite 1 Weston, FL 33331

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531 16th St