Miami Beach Multifamily for Sale
Nestled in the highly coveted North Beach enclave of Miami Beach, 8035–8045 Abbott Avenue presents a rare opportunity to acquire a fully modernized, turnkey 20-unit multifamily asset in one of South Florida’s strongest rental corridors. Originally constructed in 1945 and comprehensively renovated in 2022, the property blends timeless coastal charm with upgraded contemporary finishes that command premium rents and ensure long-term operational stability.
The two-building, three-story layout has been thoughtfully revitalized to meet today’s tenant expectations. Renovations include new electrical and plumbing systems, refreshed interiors featuring stainless steel appliances, premium window treatments, modernized landscaping, and an updated fire system. With a mix of studios, one-bedroom units, and two spacious three-bedroom apartments, the community caters to diverse tenant profiles, driving rent resilience and strong leasing velocity.
Located just moments from North Shore Park Beach, the Atlantic shoreline, and Biscayne Bay, residents enjoy a walkable coastal lifestyle supported by neighborhood cafés, grocers, bakeries, and abundant outdoor recreation. Normandy Shores Golf Course, waterfront pathways, and public parks further enhance area livability. The property sits minutes from Surfside, Bal Harbour Shops, South Beach, and Aventura, with convenient access to Miami International Airport and major employment clusters across Miami-Dade County.
Financially, the property delivers exceptional performance with a current NOI of $466,960 and a pro forma NOI of $623,200, supported by continued rent growth in one of Miami’s highest-demand submarkets. A current cap rate of 6.01% and projected 8.02% pro forma cap underscore its investment strength. Strong demographics, high household income averages, and a stable population base reinforce long-term value.
8035–8045 Abbott Avenue represents a rare opportunity to own a fully stabilized, beautifully modernized, and strategically located multifamily asset in a high-barrier coastal market poised for continued growth.
