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Gelfand Realty Miami Properties for Sale - Income/MultiFamily for Sale

924 MARSEILLE DR, MIAMI BEACH, FL 33141

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Income/MultiFamily - for Sale

924 MARSEILLE DR, MIAMI BEACH, FL 33141

Asking Price$5,050,000 Change Price$100,000

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  • Lot size 11437sqft
  • Year Built 1926

  • Days on market:

    280 day(s)

  • Original Price:

    $5,200,000

  • Tax Legal Description:

    2-3-10-11 53 42 OCEAN SIDE SEC OF ISLE OF NORMANDY PB 25-60 LOT 4 & W25FT LOT 4A BLK 3 LOT SIZE 75.000 X 125 COC 23756-2763 08 2005 5

  • Property Type:

    Income/MultiFamily

  • Special Listing Conditions:

    Sale

Description

$5,050,000

Ocean 18 lofts (924 marseille dr) is a three-story art deco apartment building featuring 18 fully renovated units in the heart of north beach. the unit mix comprises of 7 standard studios, 4 large studios, 4 one-bedroom apartments, and 3 two-bedroom apartments. most units come fully furnished. the property is fully occupied with a current average rent of $1,851. with significantly below-market rents, there is a potential rental upside of $75,900 annually ($350+ per unit per month) aligning with current market rates. renovations include: new bathrooms with glass enclosures, new stainless steel appliances, updated cabinetry, updated pvc plumbing, new electrical system, porcelain tile flooring, new lighting, new fixtures, new doors with keyless entry, fully furnished, and quartz countertops.

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