Premier Investment Opportunity Fully Stabilized 6-Unit Multifamily Asset in the Heart of South BeachExceptional turnkey investment opportunity at 645 Lenox Ave featuring six well-maintained and fully furnished 650 SF units, all with efficient and identical floor plans designed for streamlined management and operational efficiency. Offered in “As-Is” condition,… Read More this asset presents immediate income generation with strong long-term upside potential.The property currently produces a Gross Annual Income of approximately $170,400 based on 2026 actual income figures, delivering stable cash flow in one of Miami Beach’s most desirable and supply-constrained rental markets.Investor-Friendly Features Include:• Separate electric meters for each unit, minimizing owner expenses • Units included with inventory list for a seamless transition• Uniform layouts and low-maintenance management structure• 7,500 SF lot with RM-1 zoning offering long-term intrinsic land valueLong-Term Investment Security:The building has completed and received its 10-Year Recertification in accordance with Miami-Dade Ordinance 8-11(f), valid through 2035. This provides added confidence regarding structural and electrical compliance reducing the likelihood of near-term capital assessment exposure.Prime South Beach Location: Ideally positioned just steps from the transformative 500 Alton development, the new 3-acre public park, Baptist Health Center, Publix, and major lifestyle destinations. Read Less
Courtesy of Lamarca & Co. Inc 305-781-7034
Listing Snapshot
Days Online
36
Last Updated
Property Type
Multi Family
Square Ft.
3,600
Lot Size
0.17 Acres
Year Built
1935
MLS Number
A12015557
30 Days Snapshot Of 33139
$940k
-46%
(avg) sold price
17
+240%
homes sold
136
-6%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1935, Construction materials: "Block", Toal building area: 3600
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed.
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