531 16th St Active Save Request In-Person Tour Request Virtual Tour
Miami Beach,FL 33139
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,820 sqft
Price per Sqft $198
MLS Listing ID A11420681
HOA Y/N No
Year Built 1947
Annual Tax Amount $41,610
Lot Size 8,000 Sqft
Property Description
Unique opportunity to acquire this Land Lease with excellent income-producing 14-unit multifamily building in the heart of South Beach. Building offers a healthy unit mix, fully rented, low expenses, quality long-term tenants. Favorable land lease structure expiring in 22 years, low fixed annual lease payment for the entirety of the lease term with no escalations! NEW ROOF being installed prior to closing! Great cap rate in a strong rental market with upside on rents, financing opportunities available. Located in the heart of South Beach and the historic Art Deco District, ideally situated just steps away from the world famous Lincoln Road and its promenade of 200+ retail shops, restaurant and cafes. Building is well-kept and well-managed. Financials available upon request.
Location
State FL
County Miami-dade
Area 32
Exterior
Waterfront No
Parking Type On Street
Building
Story 2
Level or Stories Two
Others
Tax ID 02-32-34-002-0680
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional