$3,500,000

1124 Pennsylvania Ave Miami Beach, FL 33139

Flamingo Neighborhood

Estimated payment $22,317/month

Total Views 24,058
-- Bed
-- Bath
8,140 Sq Ft
$430 Price per Sq Ft

Highlights

  • Popular Property
  • Clear Impact Glass
  • Heating System Mounted To A Wall or Window
  • Wood Flooring
  • Cooling System Mounted To A Wall/Window

About This Home

Exclusive Investment Opportunity in Miami Beach
Almost completely renovated 12-unit, 8,140 SF low-rise building seamlessly blends historic charm with modern appeal, offering investors a prime multifamily asset in a prestigious location.
Property Highlights:
? Turnkey Investment – Fully renovated with new roof (August 2024)
? Strong Rental History – 95% occupancy rate, ensuring stable cash flow
? Unit Mix & Sizes: 8 Studios (Avg. 500 SF) – Rented at $1,650/month - 4 One-Bedroom Units (Avg. 700 SF) – Rented at $2,100/month
? Recertification Passed – Fully compliant and up to code
? Projected Cap Rate: 6.76% upon rental completion
ART DECO` DISTRICT

Listing Agent

Fabrizio Passatore

The Keyes Company Brokerage Phone: 305-898-7224 License #3380549

The Keyes Company

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $33,824

Year Built

  • Built in 1948

Home Design

  • Quadruplex
  • Substantially Remodeled
  • Flat Roof with Façade front
  • Concrete Roof
  • Concrete Block And Stucco Construction

Interior Spaces

  • 8,140 Sq Ft Home
  • 2-Story Property
  • Wood Flooring
  • Clear Impact Glass

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Mounted To A Wall or Window

Community Details

  • Property has a Home Owners Association
  • Ocean Beach Addn No 3 Condos
  • Ocean Beach Addn No 3 Subdivision

Listing and Financial Details

  • Assessor Parcel Number 02-42-03-009-1040

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$33,824

Year Built

Built in 1948

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1948
  • Property Sub Type: Quadruplex
  • Architectural Style: Attached
  • Horses: No
  • New Construction: No
  • Building Stories: 2
  • Structure Type: Quadruplex, Fourplex
  • Subdivision Name: OCEAN BEACH ADDN NO 3
  • Year Built Details: Resale
  • ResoPropertyType: ResidentialIncome
  • Attribution Contact: 305-898-7224
  • Special Features: VirtualTour
  • Stories: 2

Interior Features

  • Flooring: Wood
  • Living Area: 8140
  • Stories: 2
  • Window Features: Clear Impact Glass

Exterior Features

  • Roof: Concrete, Flat Roof With Facade Front
  • Construction Type: CBS Construction
  • Lot Features: Less Than 1/4 Acre Lot
  • Pool Private: No
  • Property Condition: Substantially Remodeled
  • View: No
  • Waterfront: No

Garage/Parking

  • Park Building Name: OCEAN BEACH ADDN NO 3

Utilities

  • Sewer: Public Sewer
  • Cooling: Wall/Window Unit(s)
  • Cooling Y N: Yes
  • Heating: Window/Wall
  • Heating Yn: Yes

Condo/Co-op/Association

  • Association Fee Frequency: Annually
  • Association: Yes
  • ResoAssociationFeeFrequency: Annually

Association/Amenities

  • MIAMIRE_TypeofAssociation: None, Other

Lot Info

  • Parcel Number: 02-42-03-009-1040
  • Zoning: 3900
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Rent Includes: Hot Water, Pest Control, Sewer, Trash Collection, Water

Tax Info

  • Tax Year: 2024
  • Tax Annual Amount: 33824

Multi Family

  • Number Of Units In Community: 1

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/01/2025 03/01/25 For Sale $3,500,000 -- $430 / Sq Ft
Source: MIAMI REALTORS® MLS

About the Listing Agent

Fabrizio Passatore
Fabrizio Passatore

The Keyes Company

(786) 705-2744

Section Image

Fabrizio is a seasoned real estate professional with over 25 years of experience assisting foreign investors in navigating the U.S. market. Specializing in both commercial and residential real estate, he is currently a specialist with The Keyes Company and owns a property management firm. His commercial office is strategically located in the heart of South Beach's renowned Art Deco District.

Managing over $70 million worth of residential and multi-family properties, Fabrizio's portfolio

View Fabrizio's Profile

Fabrizio's Other Listings

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    • 1 Bath
    • 475 Sq Ft
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  • 1568 Pennsylvania Ave Unit 326, Miami Beach, FL 33139

    $260,000

    • 1 Bed
    • 1 Bath
    • 425 Sq Ft
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    • Unit 326
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  • 1600 Euclid Ave Unit 203, Miami Beach, FL 33139

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  • 1616 Euclid Ave Unit 6, Miami Beach, FL 33139

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    • 1 Bed
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    • 674 Sq Ft
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    Excellent corner apartment just 30 feet from Lincoln Road and within walking distance of the ocean. Perfect for investment or personal living. Features spacious XL one-bedroom layout, wooden floors, and all appliances. Located in a well-maintained condominium with reserves and no special assessments for 2025. A must-see!

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  • 1611 Michigan Ave Unit 7, Miami Beach, FL 33139

    $190,000

    • 1 Bed
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  • 1605 Lenox Ave Unit 1605-3, Miami Beach, FL 33139

    $310,000

    • 1 Bed
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  • 1000 Brickell Plaza Unit PH6002, Miami, FL 33131

    $3,950,000

    • 3 Beds
    • 3.5 Baths
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  • 1219 Meridian Ave Unit 6, Miami Beach, FL 33139

    $210,000 Sold Dec 11, 2024

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  • 1550 Pennsylvania Ave Unit 122, Miami Beach, FL 33139

    $238,000 Sold Oct 04, 2024

    • 1 Bed
    • 1 Bath
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    Very nice one bedroom in quiet complex in the heart of SoBe. close to Lincoln, Ocean and all services. Modern kitchen fully equipped. Internet water and reserves included in condo fees.

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Source: MIAMI REALTORS® MLS

MLS Number: A11758768

MIAMI REALTORS® MLS

Florida Miami/Dade County Miami Beach 33139 Flamingo

1124 Pennsylvania Ave, Miami Beach, FL

Homes for Sale in Miami Beach, FL

This home is located at 1124 Pennsylvania Ave, Miami Beach, FL 33139 and is currently priced at $3,500,000, approximately $429 per square foot. This property was built in 1948. 1124 Pennsylvania Ave is a home located in Miami-Dade County with nearby schools including Fienberg-Fisher K-8 Center, Nautilus Middle School, and Miami Beach Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MIAMI REALTORS® MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

Fabrizio Passatore
Fabrizio Passatore
Listing Agent Section Image
The Keyes Company
(786) 705-2744