Commercial Real Estate Property For Sale In Miami Beach

924 Marseille Dr Miami Beach, FL 33141
 Directions

$5,150,000

  • 1926 Year Built
  • May 14, 2024 Listing Date

MLS #

:

A11601414

Price

:

$5,150,000

Status

:

Listing Date

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May 14, 2024

Square Footage

:

Not Available

County

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Miami-Dade County

Square Footage

:

Not Available

Year Built

:

1926

Taxes

:

Not Available

Waterfront

:

No

Virtual Tour

:

click here to view virtual tour

 

Remarks

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Ocean 18 Lofts (924 Marseille Dr) is a three-story Art Deco apartment building featuring 18 fully renovated units in the heart of North Beach. The unit mix comprises of 7 standard studios, 4 large studios, 4 one-bedroom apartments, and 3 two-bedroom apartments. Most units come fully furnished. The property is fully occupied with a current average rent of $1,851. With significantly below-market rents, there is a potential rental upside of $75,900 annually ($350+ per unit per month) aligning with current market rates. Renovations include: New bathrooms with glass enclosures, new stainless steel appliances, updated cabinetry, updated PVC plumbing, new electrical system, porcelain tile flooring, new lighting, new fixtures, new doors with keyless entry, fully furnished, and quartz countertops.

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