1535 West Avenue is a 10-unit value-add property located in the heart of South Beach. The property has plans that are at the final stages of approval with the City of Miami Beach to commence a full renovation of the existing 8 units to a 10-unit property. The asset features walkable access to Lincoln Road, the beach, Flamingo Park and many more Miami Beach points of interest.\r\nThe property currently has 8 units and has plans to renovate to 10 units. The 10 units will total 2 1/1 and 8 2/2. The cost to renovate the property is forecasted to be $750k or $75k/unit. Upon completion, rents are slated to be $2,750 for 1/1 and $3,650 for 2/2 which is in line with similar comparables. After renovations, the NOI is projected to be almost $275,000 which provide a return on cost north of 6.5%.

This listing is courtesy of CBRE, Inc..

More detailed information, including prior sales, lot and building square footage per the county, zoning, traffic maps, nearby businesses, and more related to the Miami-Dade county property folio associated with this commercial property listing, which in most cases would be for the listed property, is displayed below. This is not provided by the listing broker or agent, but is information obtained independently from the county for the folio number 0232340180620 entered for this listing by the listing broker / listing agent. Importantly, always verify information. This county information is not updated regularly. Thus, some of the information may have changed since it was obtained. Information herein is provided on a best efforts basis only. Do not rely on it to make an investment decision.

Miami-Dade County Information for Folio 02-2340-018-0620 (0232340180620)*
Links to Miami-Dade Lot Outline, Aerial Views, Tax Records
Property Location*
Address: 1535 West Ave
City: Miami Beach
State: Florida
Zip Code: 33139-2342 (Listings)
County: Miami-Dade (Listings)
  -
Building Size - English*
Living Square Feet: 7,392
Actual Square Feet: 7,392
Adjusted Square Feet: 7,392
  -
Lot Size - English*
Lot Size (sf): 7,500
Lot Size (acres): 0.17
  -
Building Size - Metric*
Living Square Meters: 686.74
Actual Square Meters: 686.74
Adjusted Sq M: 686.74
  -
Lot Size - Metric*
Lot Size (sq m): 697
Lot Size (ha): 0.07
  -
Zoning & Land Use*
Land Use: 0803 - Multifamily 2-9 Units : Multifamily 3 Or More Units
Zoning: 3900 - Multi-family - 38-62 U/a
Municipal Zoning: RM-1 (Miami Beach)
All Listed | All Properties
  -
Prior Sale*
Type: Qual by exam of deed
Qual: Q
Date: 05/23/2022
Amount: $2,400,000
  -
Prior Sale #2* (Second to Last)
Type: Qual by exam of deed
Qual: Q
Date: 02/10/2020
Amount: $2,100,000
  -
Prior Sale #3* (3rd to Last)
Type: Qual by exam of deed
Qual: U
Date: 09/28/2019
Amount: $100
  -
Taxable Values*
Tax Year: 2023
Land: $1,875,000
Building: $165,000
Total: $2,040,000
Assessed: $2,040,000
County Taxable: $2,040,000
City Taxable: $2,040,000
Mill Code: 0200
  -
Ownership*
Owner 1: 1535 West Ave Llc
Mailing Address: 1960 Ne 119 St
Mailing City: North Miami
Mailing State: Fl
Mailing Zip: 33181
Mailing Country: USA
  -
Building Information*
Stories: 2
Units: 8
Year Built: 1950
Effective Year Built: 1950
Extra Features 1: Aluminum Modular Fence
Extra Features 2: Chain-link Fence 6-7 Ft High
Extra Features 3: Chain-link Fence 4-5 Ft High
  -
Legal Description*
Legal Description Concatenated: 33-34 53 42 COMMERCIAL SUB PB 6-5 LOT 6 BLK 66 A LOT SIZE 50.000 X 150 OR 19204-3538 06 2000 1

*This Miami-Dade county folio information was recently obtained for the folio number entered on this listing by the listing broker, which usually is correct, but not always. This information is not represented as or warranted to be accurate or current. Verify this and all information about this property independently. Do not rely on it to make an investment decision.