1124 Pennsylvania Ave
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1124 Pennsylvania Ave
12 Unit Apartment Building $5,337,784 CAD ($444,815 CAD/Unit) 5.40% Cap Rate Miami Beach, FL 33139
Investment Highlights
- Art Deco` Historic Building South Beach Miami
- perfect investment in the optics of future acquiring license for tourists rental
- close to ocean and Lincoln road
Executive Summary
new roof (August 2024)
12 units : 8 studios avg 500 sf 4 One bedroom avg 700 sf
recert passed
cap rate during restoration 4.5%
cap rate as rental completed 6.76%
Studios rented at 1,650$ $/mt
One bed. rented at 2,050 $/mt
12 units : 8 studios avg 500 sf 4 One bedroom avg 700 sf
recert passed
cap rate during restoration 4.5%
cap rate as rental completed 6.76%
Studios rented at 1,650$ $/mt
One bed. rented at 2,050 $/mt
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$360,722
|
$44.31
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$360,722
|
$44.31
|
| Taxes |
$47,512
|
$5.84
|
| Operating Expenses |
$54,350
|
$6.68
|
| Total Expenses |
$101,862
|
$12.51
|
| Net Operating Income |
$258,860
|
$31.80
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $360,722 |
| Annual Per SF | $44.31 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $360,722 |
| Annual Per SF | $44.31 |
| Taxes (CAD) | |
|---|---|
| Annual | $47,512 |
| Annual Per SF | $5.84 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $54,350 |
| Annual Per SF | $6.68 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $101,862 |
| Annual Per SF | $12.51 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $258,860 |
| Annual Per SF | $31.80 |
Property Facts
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $2,844 CAD | 710 |
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Walk Score ®
Walker's Paradise (97)
Bike Score ®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 02-4203-009-1040 | Total Assessment | $2,531,520 CAD (2024) |
| Land Assessment | $1,585,013 CAD (2024) | Annual Taxes | $47,512 CAD ($5.84 CAD/SF) |
| Improvements Assessment | $946,507 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
02-4203-009-1040
Land Assessment
$1,585,013 CAD (2024)
Improvements Assessment
$946,507 CAD (2024)
Total Assessment
$2,531,520 CAD (2024)
Annual Taxes
$47,512 CAD ($5.84 CAD/SF)
Tax Year
2023
zoning
| Zoning Code | RM-1, Miami Beach (Art Deco` District) |
| RM-1, Miami Beach (Art Deco` District) |
-
Fabrizio Passatore -
The Keyes Company
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1124 Pennsylvania Ave
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