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$ 3,200,000
Est. payment | /mo
5,760 SqFt
$ 3,200,000
Est. payment | /mo
5,760 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,760 sqft
Price per Sqft $555
MLS Listing ID A11888408
HOA Y/N No
Year Built 1936
Annual Tax Amount $31,114
Tax Year 2024
Lot Size 7,500 Sqft
Property Sub-Type Multi Family
Property Description
1329 Pennsylvania Avenue (aka Shermon Court) is a 1936 Art Deco building masterfully designed by Henry Hohauser, one of South Beach's signature architects in the Deco era. This is a well-maintained 8-unit apartment building, each with spacious 1-bed/1-bath layouts. The building also has common laundry facilities as well as 5 off street parking spaces. All units are occupied by excellent long-term tenants on month-to-month leases at $1,700 ?— well below market. With renovations, rents can be repositioned to $2,300 - $2,500, offering strong upside potential. The property has passed its 40-year recertification and boasts a rich Miami Beach history, blending architectural character with modern stability. A rare investment opportunity with secure cash flow and significant value-add potential.
Location
State FL
County Miami-dade
Area 32
Exterior
Roof Type Built-Up
Private Pool Yes
Building
Story 2
Level or Stories Two
Structure Type Stucco
Others
Tax ID 02-42-03-009-0700
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11888408
Listed by BHHS EWM Realty
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