Log In/Sign Up
Your email has been sent.
1329-1331 Pennsylvania Ave 8 Unit Apartment Building $4,386,528 CAD ($548,316 CAD/Unit) Miami Beach, FL 33139
Executive Summary
1329 Pennsylvania Avenue (aka Sherman Court) is a 1936 Art Deco building masterfully designed by Henry Hohauser, one of South Beach's most prominent architects in the Deco era. This is a well-maintained 8-unit apartment building, each with spacious 1-bed/1-bath layouts. The building also has common laundry facilities as well as 5 off street parking spaces. All units are occupied by excellent long-term tenants on month-to-month leases at $1,700 per month— well below market rate. With renovations, rents can be repositioned to $2,300 - $2,500, offering strong upside potential. The property has passed its 40-year recertification and boasts a rich Miami Beach history, blending architectural character with modern stability. A rare investment opportunity with secure cash flow and significant value-add potential.
Financial Summary (Pro Forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$328,990
|
$44.80
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$328,990
|
$44.80
|
| Taxes |
$42,651
|
$5.81
|
| Operating Expenses |
$17,272
|
$2.35
|
| Total Expenses |
$59,923
|
$8.16
|
| Net Operating Income |
$269,067
|
$36.64
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $328,990 |
| Annual Per SF | $44.80 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $328,990 |
| Annual Per SF | $44.80 |
| Taxes (CAD) | |
|---|---|
| Annual | $42,651 |
| Annual Per SF | $5.81 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $17,272 |
| Annual Per SF | $2.35 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $59,923 |
| Annual Per SF | $8.16 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $269,067 |
| Annual Per SF | $36.64 |
Property Facts
| Price | $4,386,528 CAD | Building Class | C |
| Price Per Unit | $548,316 CAD | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 7,344 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1936 |
| Apartment Style | Garden | Parking Ratio | 0.68/1,000 SF |
| Zoning | RM-1 - Residential Multi-Family | ||
| Price | $4,386,528 CAD |
| Price Per Unit | $548,316 CAD |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,344 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1936 |
| Parking Ratio | 0.68/1,000 SF |
| Zoning | RM-1 - Residential Multi-Family |
Amenities
Site Amenities
- Courtyard
- Laundry Facilities
- Vintage Building
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 720 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Some public transit
40/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 02-4203-009-0700 | Total Assessment | $2,129,735 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $42,651 CAD ($5.81 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
02-4203-009-0700
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,129,735 CAD
Annual Taxes
$42,651 CAD ($5.81 CAD/SF)
Tax Year
2025
1 of 30
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
1329-1331 Pennsylvania Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.