Ad #7580981
MLS #F10546676
Attractive multifamily 12-unit boutique property in the heart of
828 Pennsylvania Ave, Miami Beach, FL 33139
$2,990,000
--Beds
--Baths
6,608Sqft
0.16Acres
About this property
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
Property Features
0 Beds
0 Baths
6,608 Sqft
Built in 1928
0.16 Acres
$39,072 / yr property tax
Miami-Dade County
Additional Photos
Contact Information
Albert Simon
LoKation Real Estate
571-501-0827
Location
Listing Agent: Albert Simon (License #: 3629204) 571-501-0827
Broker: LoKation Real Estate 954-545-5583 Listing Site
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: LoKation Real Estate 954-545-5583 Listing Site
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Aug 12, 2026
Photo Gallery
$2,990,000
--
Beds
--
Baths
6,608
Sqft
828 Pennsylvania Ave, Miami Beach, FL 33139
By contacting this agent you agree to these Terms and Conditions.
MLS# F10546676
Attractive multifamily 12-unit boutique property in the heart of
$2,990,000
828 Pennsylvania Ave, Miami Beach, FL 33139
--
Beds
--
Baths
6,608
Sqft
0.16
Acres
$2,990,000
828 Pennsylvania Ave, Miami Beach, FL 33139
-- Beds
-- Baths
6,608 Sqft
0.16 Acres
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
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Property Details
HOME DETAILS
0 Beds
0 Baths
6,608 Sqft
Built in 1928
0.16 Acres
FINANCIAL & COMMUNITY
$39,072 / yr property tax
Miami-Dade County
Location
Mortgage Calculator
Ad Statistics
Ad Number
7580981
Viewed
0 time
Listing Status
Active
Added
Apr 16, 2026
Last Refreshed
Jul 03, 2026 06:17:28 PM
Listing Information
Data Source
BeachesMLS
Source Property ID
F10546676
Listing Agent: Albert Simon (License #: 3629204) 571-501-0827
Broker: LoKation Real Estate 954-545-5583 Listing Site
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: LoKation Real Estate 954-545-5583 Listing Site
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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