531 16th St, Miami Beach, 33139

  • $2,150,000

Listing UP for Sale

Miami Beach

Overview

Property ID: A11420681
  • 8000
  • Lot sqft
  • 1947
  • Year Built

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.

  • Address 531 16th St
  • City Miami Beach
  • State/county Florida
  • Zip/Postal Code 33139
  • Area Miami-dade County
  • Country United States

Details

Updated on June 13, 2024 at 2:58 am
  • Property ID: A11420681
  • Price: $2,150,000
  • Land Area: 8000 sqft
  • Year Built: 1947
  • Property Status: Listing UP for Sale

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