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7710 Carlyle Ave
Miami Beach, FL 33141
Multifamily Property For Sale
·
4 Units
Investment Highlights
- 4-unit multifamily, 3 blocks to ocean, 3 blocks to bay, North Beach
- Walkable to Bandshell, 71st Street Town Center, parks, beach
- Rents 15-20% below market, NOI increase potential ~20%
- Current cap 5.00% | Proforma cap 5.98%
Executive Summary
Premium 4-unit multifamily value-add opportunity in North Beach. 7710 Carlyle Avenue sits 3 blocks from the Atlantic Ocean and 3 blocks from Biscayne Bay at the geographic center of Miami Beach's North Shore residential corridor.
Built 1951, CBS construction, one-story, 3,425 SF on 5,650 SF lot. Fully occupied with stable tenants on month-to-month leases, providing maximum operational flexibility. Unit mix: (2) 2BR/1BA + (2) 1BR/1BA. Current rents are 15-20% below market with NOI increase potential of approximately 20% at stabilized rents. In-place NOI: $64,338 | Proforma NOI: $76,338.
Located on quiet, tree-lined Carlyle Avenue, walkable to the Bandshell, 71st Street Town Center, and beach. North Beach is experiencing a major transformation: 2017 upzoning approved, 2021 CRA established (taxable base +21% in two years), $53.8M city investment in new civic complex, and 9+ development projects underway including Lefferts' 72 Park luxury tower, Shoma Bay, Ella Miami Beach, and Deauville redevelopment.
Cash-flowing rental product in the corridor is scarce. For the investor who understands where North Beach is going, this is the right asset, on the right street, at the right moment.
Priced at $1,275,000 ($318,750/unit | $372 PSF). Exceptional fundamentals. RM-1 zoning.
Built 1951, CBS construction, one-story, 3,425 SF on 5,650 SF lot. Fully occupied with stable tenants on month-to-month leases, providing maximum operational flexibility. Unit mix: (2) 2BR/1BA + (2) 1BR/1BA. Current rents are 15-20% below market with NOI increase potential of approximately 20% at stabilized rents. In-place NOI: $64,338 | Proforma NOI: $76,338.
Located on quiet, tree-lined Carlyle Avenue, walkable to the Bandshell, 71st Street Town Center, and beach. North Beach is experiencing a major transformation: 2017 upzoning approved, 2021 CRA established (taxable base +21% in two years), $53.8M city investment in new civic complex, and 9+ development projects underway including Lefferts' 72 Park luxury tower, Shoma Bay, Ella Miami Beach, and Deauville redevelopment.
Cash-flowing rental product in the corridor is scarce. For the investor who understands where North Beach is going, this is the right asset, on the right street, at the right moment.
Priced at $1,275,000 ($318,750/unit | $372 PSF). Exceptional fundamentals. RM-1 zoning.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 2 | - | - |
Property Taxes
| Parcel Number | 02-3202-007-2170 | Improvements Assessment | $231,163 CAD |
| Land Assessment | $929,138 CAD | Total Assessment | $1,160,301 CAD |
Property Taxes
Parcel Number
02-3202-007-2170
Land Assessment
$929,138 CAD
Improvements Assessment
$231,163 CAD
Total Assessment
$1,160,301 CAD
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