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11th St.
Miami Beach, FL 33139 Flamingo

$4,600,000 USD

Apartments For Sale  •  9,398 SF

Property Details

  • Property Type Apartments
  • Total Building Size 9,398 SF
  • Lot Size 0.16 AC
  • Building Class C
  • Year Built 1959
  • Cap Rate 7.11 %
  • Zoning RM-1
30 Transit Score
90 Walk Score

Highlights

* 9% CAP RATE = SELLER FINANCING 6%, INTEREST ONLY UP TO 7 YEARS. 25% DOWN PAYMENT MINIMUM
* SUBJECT 2 CURRENT LOAN BALANCE $2.4M AT 4.15% INTEREST RATE. MUST TAKE OVER THE LLC WHO OWNS THE LOAN.
Privately located in an exclusive residential neighborhood so it's the quietest part of SOBE. Plenty of permit parking available.
Located near Flamingo Park, S. Pointe Park, S. of Fifth, Lincoln Rd Mall and a variety of outdoor activities!
3 blocks to the beach. 5 mins to MacArthur Causeway for easy access to Downtown, Brickell, Wynwood and Design District!

Property Flyers

Financial Summary (Actual)

Net Operating Income: $227,184 USD (2023)
Cap Rate: 7.11 %
Total Expenses: $98,661 USD

Amenities

  • Courtyard
  • Fenced Lot
  • Playground
  • Security System
  • Washer/Dryer
  • Vintage Building
  • Bicycle Storage

Public Transportation

Commuter RailDriveWalkDistance
Miami (Mainline - Brightline) 11 min - 4.8 mi
Miamicentral Station (Metrorail Transfer - MiamiCentral - Tri-Rail, West Palm Beach - MiamiCentral - Tri-Rail) 11 min - 4.9 mi
AirportDriveWalkDistance
Miami International 29 min - 15.0 mi
Fort Lauderdale/Hollywood International 40 min - 26.7 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 8
Type: Surface
Included in Rent: No
Ricky Kallabat 305-747-5117 KW Commercial
Ricky Kallabat 305-747-5117 KW Commercial