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$ 3,150,000
Est. payment /mo
Active
645 Lenox Ave Miami Beach, FL 33139
3,600 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $875
MLS Listing ID A12015557
HOA Y/N No
Year Built 1935
Annual Tax Amount $25,015
Lot Size 7,500 Sqft
Property Sub-Type Multi Family
Property Description
Premier Investment Opportunity | Fully Stabilized 6-Unit Multifamily Asset in the Heart of South Beach
Exceptional turnkey investment opportunity at 645 Lenox Ave featuring six well-maintained and fully furnished 650 SF units, all with efficient and identical floor plans designed for streamlined management and operational efficiency. Offered in “As-Is” condition, this asset presents immediate income generation with strong long-term upside potential.
The property currently produces a Gross Annual Income of approximately $170,400 based on 2026 actual income figures, delivering stable cash flow in one of Miami Beach's most desirable and supply-constrained rental markets.
Investor-Friendly Features Include:
• Separate electric meters for each unit, minimizing owner expenses
• Units included with inventory list for a seamless transition
• Uniform layouts and low-maintenance management structure
• 7,500 SF lot with RM-1 zoning offering long-term intrinsic land value
Long-Term Investment Security:The building has completed and received its 10-Year Recertification in accordance with Miami-Dade Ordinance 8-11(f), valid through 2035. This provides added confidence regarding structural and electrical compliance reducing the likelihood of near-term capital assessment exposure.
Prime South Beach Location: Ideally positioned just steps from the transformative 500 Alton development, the new 3-acre public park, Baptist Health Center, Publix, and major lifestyle destinations.
Exceptional turnkey investment opportunity at 645 Lenox Ave featuring six well-maintained and fully furnished 650 SF units, all with efficient and identical floor plans designed for streamlined management and operational efficiency. Offered in “As-Is” condition, this asset presents immediate income generation with strong long-term upside potential.
The property currently produces a Gross Annual Income of approximately $170,400 based on 2026 actual income figures, delivering stable cash flow in one of Miami Beach's most desirable and supply-constrained rental markets.
Investor-Friendly Features Include:
• Separate electric meters for each unit, minimizing owner expenses
• Units included with inventory list for a seamless transition
• Uniform layouts and low-maintenance management structure
• 7,500 SF lot with RM-1 zoning offering long-term intrinsic land value
Long-Term Investment Security:The building has completed and received its 10-Year Recertification in accordance with Miami-Dade Ordinance 8-11(f), valid through 2035. This provides added confidence regarding structural and electrical compliance reducing the likelihood of near-term capital assessment exposure.
Prime South Beach Location: Ideally positioned just steps from the transformative 500 Alton development, the new 3-acre public park, Baptist Health Center, Publix, and major lifestyle destinations.
Location
State FL
County Miami-dade
Area 42
Interior
Flooring Ceramic Tile, Laminate
Exterior
Roof Type Barrel
Private Pool Yes
Building
Structure Type Block
Others
HOA Name Lamarca & Co Inc
Tax ID 02-42-03-009-7770
Security Features Fenced,Security Gate,Motion Detectors,Other,Smoke Detector(s)
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Corporate Listing
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12015557
Listed by Lamarca & Co. Inc
NEARBY SCHOOL & BUSINESS
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