531 16th Street

Miami Beach, FL 33139

$2,150,000
Price
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a view of city
an aerial view of multiple house
an aerial view of a city
an aerial view of a city
an aerial view of residential houses with city view
an aerial view of multiple house
a view of a city
an aerial view of a city
an aerial view of multiple house with yard
a city view with tall buildings
a view of street with parked cars
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a view of entryway
a view of an empty room with wooden floor and a window
a view of an empty room with a window
a view of an empty room with wooden floor and a window
a kitchen with stainless steel appliances granite countertop a sink stove and refrigerator
a kitchen with stainless steel appliances granite countertop a sink a stove and a refrigerator
a view of a room with wooden floor and a hallway
a view of empty room with wooden floor
a white bath tub sitting next to a white sink
a bathroom with a sink toilet and shower
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a view of a room with wooden floor and a sink

Description

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....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.
  1. Listed by Fernando Arencibia JR. • Avanti Way Commercial

Property Details for 531 16th Street

Waterfront
No
Area
32
Auction
No
Num Stories
2
LISTING UPDATED: 08/14/2024 09:29 AM

Property Details for 531 16th Street

StatusActive
MLS #A11420681
Days on Market491
Taxes$41,610 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial/Industrial / Income/Multi Family
Year Built1947
Lot Size0.18 AC / 8,000 SF
CountyMiami-Dade County

Building Information for 531 16th Street

Stories-Residences-Year Built1947Building Size-Lot Size0.18 AC / 8,000 SF

Property Information for 531 16th Street

Location Information
Location Information
  • Parcel Number Free Text: 02-32-34-002-0680
  • Parcel Number MLX: 0680
  • MLS Area: 32
  • Municipal Code: 2
  • Township Range: 32
  • Section: 34
  • Subdivision Number: 2
  • Unit Count: 0
  • Zoning Information: 3900
General Information
Parking
  • Parking Description: Street Parking
General Information
  • Prop Type-Type of Building: Commercial/Residential Income, Residential-Multi-Family
  • Building Sq Ft: 10,820
Additional Property Information
Additional Property Information
  • Guest Accommodations: No
Financial Information
Financial Information
  • Flood Zone: AE

Property History for 531 16th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 531 16th Street

Taxable ValueLand$1,760,000Additions$740,000Total$2,500,000
Tax Record2023$41,081 ($3,423 / month)
Home Facts
Total Finished SqFt10,820 SqFtAbove Grade Finished SqFt10,820 SqFtStories2Lot Size8,000 SqFtStyleMulti-Family Dwelling (2-4)Year Built1947Zoning3900:MULTI-FACountyMIAMI-DADEAPN02-3234-002-0680

Schools near 531 16th Street

This home is within Miami-Dade County Public Schools.
Rating
School
Type
Grades
Distance
Air Base K-8 Center for International Education
Public - PK to 8
Fienberg/Fisher K-8 Center
Public - PK to 8
Nautilus Middle School
Public - 6 to 8
Robert Morgan Voc-Tech Institute
Public - 9 to 12
Rating
School
Distance
Air Base K-8 Center for International Education
PublicPK to 8

Fienberg/Fisher K-8 Center
PublicPK to 8

Nautilus Middle School
Public6 to 8

Robert Morgan Voc-Tech Institute
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 531 16th Street, Miami Beach, FL 33139

531 16th Street is a multi-family home for sale in Miami Beach, FL 33139. This property was listed for sale on July 14, 2023 by Avanti Way Commercial, it's currently listed at $2,150,000. It has been on the market for a total of 491 days and was last sold on August 7, 2022. This listing's school district is Miami-Dade County Public Schools. Nearby schools include Air Base K-8 Center for International Education, Fienberg/Fisher K-8 Center and Nautilus Middle School. 531 16th Street is a 0-bed, 0-bath, multi-family home built in 1947.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Avanti Way Commercial

Based on information from one of the following Multiple Listing Services: Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.