Interior
- Bathrooms
- 0
Active · MultiFamily
$1,700,000
531 16th St, Miami Beach, FL 33139
- Beds
- —
- Baths
- 0
- Living area
- — sq ft
- $ / sq ft
- —
- Year built
- 1947
- Lot size
- 8,000 sq ft
- HOA fee
- —
- Annual tax
- —
About this property
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 20 years, low fixed annual lease payment for the entirety of the lease term with no escalations! NEW ROOF! Completed December 2024. 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.
Property location
Get Directions531 16th St, Miami Beach, FL 33139
Loading property location…
Facts & features
Exterior & Structure
- Property type
- MultiFamily
- Year built
- 1947
- Lot size
- 8,000 sq ft
Parking
- Covered spaces
- 0
- Parking features
- On Street
HOA, Community & Financials
- County
- Miami-Dade
- Days on market
- 163
- MLS listing ID
- A11975379
- Listing status
- Active
Virtual tour
Explore 3D / Virtual TourInvestment intelligence
Yield & ROI calculator
Pre-filled from this listing's price, HOA and tax record. Adjust anything to see returns update instantly.
Estimated monthly cash flow
-$3,327
- Cap rate
- 3.3%
- Net yield
- 3.3%
- Cash-on-cash return
- -8.4%
- Gross yield
- 6.6%
- Mortgage payment
- $8,059/mo
- Down payment
- $425,000
- Loan amount
- $1,275,000
- Annual NOI
- $56,780
Estimates only — includes 5% maintenance reserve and ~3% closing costs in cash invested. Verify taxes, HOA and insurance before making an offer.