Log In/Sign Up
Your email has been sent.
1329-1331 Pennsylvania Ave 8 Unit Apartment Building $4,316,576 CAD ($539,572 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 |
$323,743
|
$44.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$323,743
|
$44.08
|
| Taxes |
$41,971
|
$5.71
|
| Operating Expenses |
$16,997
|
$2.31
|
| Total Expenses |
$58,967
|
$8.03
|
| Net Operating Income |
$264,776
|
$36.05
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $323,743 |
| Annual Per SF | $44.08 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $323,743 |
| Annual Per SF | $44.08 |
| Taxes (CAD) | |
|---|---|
| Annual | $41,971 |
| Annual Per SF | $5.71 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $16,997 |
| Annual Per SF | $2.31 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $58,967 |
| Annual Per SF | $8.03 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $264,776 |
| Annual Per SF | $36.05 |
Property Facts
| Price | $4,316,576 CAD | Building Class | C |
| Price Per Unit | $539,572 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 | $4,316,576 CAD |
| Price Per Unit | $539,572 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
Walk Score®
Walker's Paradise (98)
Bike Score®
Very Bikeable (77)
Property Taxes
| Parcel Number | 02-4203-009-0700 | Total Assessment | $2,113,954 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $41,971 CAD ($5.71 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
$2,113,954 CAD
Annual Taxes
$41,971 CAD ($5.71 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.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.