31
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$4,300,000
Est. payment /mo
5,983 SqFt
Price Dropped by $100K
2822 Pine Tree Dr Miami Beach, FL 33140
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UPDATED:
12/20/2024 04:50 PM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,983 sqft
Price per Sqft $718
MLS Listing ID A11672674
HOA Y/N No
Year Built 1935
Annual Tax Amount $33,700
Lot Size 8,580 Sqft
Property Description
Comprising 12 operating units, Noble Pine Tree Apartments offers a unique investment opportunity for an investor looking to break into the Mid-Beach market. All operating units are fully-renovated and a majority of the apartments have new in-unit washer/dryers. The property consists of (1) two-bedrooms, (5) one-bedrooms and (6) studios. The average in-place rent per-unit stands at $2,175. The property consists of 12 operating units; however, it was built as 8 legal/conforming units. The property has undergone significant renovations over the years including new modern cabinetry, updated appliances, modern-tile flooring, new vanities, lighting, counter tops and kitchenettes (in select units).
In-Place NOI: $232,202
In-Place Cap Rate: 5.4%
In-Place NOI: $232,202
In-Place Cap Rate: 5.4%
Location
State FL
County Miami-dade
Area 32
Building
Story 2
Level or Stories Two
Structure Type Block
Others
Tax ID 02-32-27-004-0220
Listed by STL Advisors, LLC