Description of this home

733 Michigan is an exceptionally rare, fully gut-renovated multifamily asset situated on an oversized double lot in the heart of South Beach. Simply put, the Property represents a one-of-a-kind South Beach asset and one of the most comprehensively upgraded Art Deco multifamily offerings currently available in this highly sought-after market. The site’s expansive footprint stands in sharp contrast to the densely built, smaller-parcel properties that define the surrounding area, offering a scale and openness rarely encountered in this submarket. In addition, a sister property located at 1535 West Avenue—comprised of 8 similarly renovated units—is available for acquisition either individually or as part of a portfolio, providing investors with immediate scale and operational efficiencies. Ownership has invested over $860,000 to transform the Property into a best-in-class rental asset, featuring high-end, condo-quality finishes throughout. 733 Michigan consists of eight (8) 2-bedroom / 1-bathroom units averaging $2,925 in current rents and two (2) 3-bedroom / 2-bathroom units averaging $4,350, most secured under 12-month leases. All units are fully furnished. Given the level of renovation and unit finishes, the asset is well-positioned for a potential future condominium conversion, offering an additional monetization pathway atop strong in-place cash flow.

Property Details for this home

Pool Private

No

Building Information for this home

Building Area Total

6802

Building Area Units

Square Feet

Stories

1

Stories Total

1

Association

No

Property Information for this home

Lot Size Square Feet

14,000

Waterfront

No

View

No

New Construction

No

Public Records for this home

Parcel Number

02-42-03-009-6540

Tax Legal Description

OCEAN BEACH ADD NO 3 PB 2-81 LOTS 12 & 13 BLK 86 LOT SIZE 100. X 140 OR 21313-0141 05/2003 1

Zoning

3900

County Or Parish

Miami-Dade County

Location