The Grey Havens 815 W 39th St 4 Unit Apartment Building $3,416,760 CAD ($854,190 CAD/Unit) 4.77% Cap Rate Miami Beach, FL 33140






INVESTMENT HIGHLIGHTS
- Exceptional Miami Beach Location
- Additional Land for More Units
- Large ~900 square foot Units
- All Units Meticulously Renovated
- Washer/Dryer in Each Unit
- Below Market Rents
EXECUTIVE SUMMARY
The Grey Havens is a superb multi-family asset in Miami Beach- meticulously maintained and in a premier location. It features four huge, ~900 square foot, 2 Bedroom 2 bath apartments completely renovated down to the last detail. The property provides high style living in a secure yet vibrant neighborhood that breathes wealth and desirability.
Built in 1938 of reinforced concrete and stucco, The site and building were fully renovated and recertified in 2018. The Grey Havens now feature private entrances, a new roof, all new central A/C systems, electrical and plumbing systems, Impact windows and doors in each apartment, washer/dryers and original wood floors. In addition, there is ample outdoor covered space for true indoor/outdoor living complete with grill and manicured landscape befitting this singular neighborhood.
Surrounded by churches, schools, and upscale residences, the Grey Havens lies in a wealthy and prestigious neighborhood close to all major attractions- yet remains quiet and peaceful when rest and relaxation are key. The property is located just two blocks south of the 41st Street Strand which provides shopping, dining, entertainment and services of all types. 41st Street also provides direct access to Miami proper and the Beach.
This is a truly turnkey asset, and an absolute must see!
Built in 1938 of reinforced concrete and stucco, The site and building were fully renovated and recertified in 2018. The Grey Havens now feature private entrances, a new roof, all new central A/C systems, electrical and plumbing systems, Impact windows and doors in each apartment, washer/dryers and original wood floors. In addition, there is ample outdoor covered space for true indoor/outdoor living complete with grill and manicured landscape befitting this singular neighborhood.
Surrounded by churches, schools, and upscale residences, the Grey Havens lies in a wealthy and prestigious neighborhood close to all major attractions- yet remains quiet and peaceful when rest and relaxation are key. The property is located just two blocks south of the 41st Street Strand which provides shopping, dining, entertainment and services of all types. 41st Street also provides direct access to Miami proper and the Beach.
This is a truly turnkey asset, and an absolute must see!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
---|---|---|
Gross Rental Income |
$217,648
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$52.09
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Other Income |
-
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-
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Vacancy Loss |
-
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-
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Effective Gross Income |
$217,648
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$52.09
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Taxes |
-
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-
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Operating Expenses |
-
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-
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Total Expenses |
$55,807
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$13.36
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Net Operating Income |
$161,841
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$38.74
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PROPERTY FACTS
Price | $3,416,760 CAD |
Price Per Unit | $854,190 CAD |
Sale Type | Investment |
Cap Rate | 4.77% |
No. Units | 4 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low-Rise |
Building Class | C |
Lot Size | 0.12 AC |
Building Size | 4,178 SF |
Average Occupancy | 100% |
No. Stories | 2 |
Year Built/Renovated | 1938/2021 |
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Kitchen
- Hardwood Floors
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Picnic Area
- Cabana
- Furnished Units Available
- Grill
- Gas Range
- Recycling
- Vintage Building
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
2+2 | 4 | - | 900 |
Walk Score®
Very Walkable (84)
PROPERTY TAXES
Parcel Number | 02-3227-015-0310 | Improvements Assessment | $300,975 CAD |
Land Assessment | $1,740,464 CAD | Total Assessment | $2,041,439 CAD |
ZONING
Zoning Code | RM-1 (RM-1: Residential Multifamily Low intensity) |