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531 16th St 14 Unit Apartment Building $2,699,775 CAD ($192,841 CAD/Unit) Miami Beach, FL 33139
INVESTMENT HIGHLIGHTS
- 531 16th Street presents an income-generating, 14-unit apartment building.
- The building has a favorable land-lease expiring in 21 years with low fixed annual lease payments for the entirety with no escalations.
- Nestled in the City Center neighborhood of Miami Beach, FL, between the Biscayne Bay and the Atlantic Ocean.
- Surrounding by prime Miami Beach shopping, dining, nightlife, art, and more.
EXECUTIVE SUMMARY
Arenci Properties Realty is pleased to present the unique opportunity to acquire this land lease property with an excellent income-producing 14-unit multifamily building in the heart of South Beach, FL.
The building offers a healthy unit mix of studios and one- and two-bedroom units, all fully rented with low expenses and quality long-term tenants. The land lease in place is a favorable structure expiring in 21 years with low fixed annual lease payments for the remainder of the term and no escalations.
The building is well-kept and managed. It received a new roof and unit updates throughout in December 2024.
It is ideally located in the heart of South Beach and near the historic Art Deco District, just steps away from the world-famous Lincoln Road and its promenade of 200+ retail shops, restaurants, and cafes.
This offering presents a great cap rate in a strong rental market with upside on rents. Financing opportunities are available. Inquire today for more information; property financials are available upon request.
The building offers a healthy unit mix of studios and one- and two-bedroom units, all fully rented with low expenses and quality long-term tenants. The land lease in place is a favorable structure expiring in 21 years with low fixed annual lease payments for the remainder of the term and no escalations.
The building is well-kept and managed. It received a new roof and unit updates throughout in December 2024.
It is ideally located in the heart of South Beach and near the historic Art Deco District, just steps away from the world-famous Lincoln Road and its promenade of 200+ retail shops, restaurants, and cafes.
This offering presents a great cap rate in a strong rental market with upside on rents. Financing opportunities are available. Inquire today for more information; property financials are available upon request.
PROPERTY FACTS
| Price | $2,699,775 CAD | Building Class | C |
| Price Per Unit | $192,841 CAD | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 9,824 SF |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1947 |
| Property Subtype | Apartment | Parking Ratio | 0.1/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-1 - Residential Multi-Family | ||
| Price | $2,699,775 CAD |
| Price Per Unit | $192,841 CAD |
| Sale Type | Investment |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 9,824 SF |
| No. Stories | 2 |
| Year Built | 1947 |
| Parking Ratio | 0.1/1,000 SF |
| Zoning | RM-1 - Residential Multi-Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | - | - |
| 1+1 | 4 | - | - |
| 2+2 | 2 | - | - |
1 1
Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 02-3234-002-0680 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $3,528,775 CAD |
PROPERTY TAXES
Parcel Number
02-3234-002-0680
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$3,528,775 CAD
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531 16th St
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