531 16th St is a $2,400,000 home on a 0.18 acre lot located in Miami Beach, FL.
Unique opportunity to acquire this Land Lease with excellent income-producing 14-unit multifamily building in the heart of South Beach. Building offers a healthy unit mix, fully rented, low expenses, quality long-term tenants. Favorable land lease structure expiring in 22 years, low fixed annual lease payment for the entirety of the lease term with no escalations! NEW ROOF being installed prior to closing! Great cap rate in a strong rental market with upside on rents, financing opportunities available. Located in the heart of South Beach and the historic Art Deco District, ideally situated just steps away from the world famous Lincoln Road and its promenade of 200+ retail shops, restaurant and cafes. Building is well-kept and well-managed. Financials available upon request.
Parking Types | On Street Open Parking - Yes |
Exterior Features | Commercial/Residential Income Residential-Multi-Family Sale Other Utilities Available |
Property Type | Commercial Sale |
Year Built | 1947 |
HOA Fee | $0.00 |
Taxes | $41,610.00 |
County | miami-dade county |
All information should be verified by the recipient and none is guaranteed as accurate by the Miami Association of Realtors® MLS. Data last updated 07/27/2024 at 09:41am MDT. The data relating to real estate on this website derived in part from the Miami Association of Realtors® MLS. All properties are subject to prior sale, change or withdrawal. Neither SunLife Realtors nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2024 Miami Association of Realtors® MLS. All rights reserved.