UPDATED:
Key Details
Property Type Single Family Home
Sub Type Stock Cooperative
Listing Status Active
Purchase Type For Sale
Square Footage 380 sqft
Price per Sqft $418
Subdivision Penn Eleven Co-Op
MLS Listing ID A11839216
Style Garden Apartment
Full Baths 1
HOA Fees $481/mo
HOA Y/N Yes
Min Days of Lease 180
Leases Per Year 2
Year Built 1962
Annual Tax Amount $1,114
Tax Year 2024
Property Sub-Type Stock Cooperative
Property Description
Vacant and unfurnished updated studio in the heart of South Beach, offering an excellent cash-flow investment with an estimated ~10% cap rate under current long-term rental guidelines. Located in a well-maintained building that has passed its 40-Year Recertification.
Offered at $159,000 with HOA of $481/month (paid annually). Approximately $700,000 in capital improvements completed over the last five years, including electrical, structural, and roof upgrades — all fully assessed. HOA includes all standard insurance, including wind. Building is quiet, secure, and professionally managed.
The unit features two separate entrances, including a private street entrance, increasing tenant appeal. Short-term rentals and Airbnb are not permitted; however, the building allows long-term rentals with a minimum of two leases per year, providing stable and predictable income.
With the unit vacant and rent-ready, this is an ideal opportunity for investors seeking immediate placement, strong returns, and low future capital risk in one of Miami Beach's most desirable locations.
Cash only purchase.
Location
State FL
County Miami-dade
Community Penn Eleven Co-Op
Area 42
Interior
Interior Features Bedroom on Main Level, Closet Cabinetry, First Floor Entry
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate
Furnishings Furnished
Appliance Gas Range
Exterior
Exterior Feature Courtyard
Amenities Available None
View Garden
Garage No
Private Pool Yes
Building
Architectural Style Garden Apartment
Structure Type Block
Others
Pets Allowed No, Pet Restrictions
HOA Fee Include Laundry,Maintenance Grounds,Sewer
Senior Community No
Restrictions OK To Lease,Renting Limited
Tax ID 02-42-03-084-0040
Security Features Other
Acceptable Financing Cash
Listing Terms Cash
Pets Allowed No, Pet Restrictions
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11839216
Get More Information
Kate Zhurko
Broker Associate | License ID: 3229050
Broker Associate License ID: 3229050
- Homes For Sale in Fort Lauderdale, FL
- Homes For Sale in Pompano Beach, FL
- Homes For Sale in Hollywood, FL
- Homes For Sale in Tamarac, FL
- Homes For Sale in Sunrise, FL
- Homes For Sale in Plantation, FL
- Homes For Sale in Davie, FL
- Homes For Sale in Hallandale Beach, FL
- Homes For Sale in Wilton Manors, FL
- Homes For Sale in Weston, FL
- Homes For Sale in Sunny Isles Beach, FL