6838 Abbott Ave
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6838 Abbott Ave
8 Unit Block of Flats £1,527,435 (£190,929/Unit) 6.34% Net Initial Yield Miami Beach, FL 33141
Investment Highlights
- Centrally located near Town Center - walk everywhere
- all units have been upgraded including electrical and plumbing
- Near Mass Transit, Beach, & shopping
- New electrical service including new individual panels
- Increase CAP over 6% simply by bringing rents to market
- Impact Windows throughout with freshly upgraded exterior
Executive Summary
Discover the allure of this Charming MiMo Building nestled within the Historic Resort District. Boasting a prime location just steps away from Town Center, the new 72nd St Civic Center, and Ocean Terrace, this property offers convenience and charm in abundance. Featuring impact-resistant windows, this property exudes durability, safety, and modern appeal. With all units thoughtfully renovated-mainly from the ground up-it offers a unique opportunity for investors. Whether capitalizing on potential rent increases to market rates or reconfiguring the floor plan to unlock additional value, this asset delivers exceptional flexibility and upside potential.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,527,435 | Apartment Style | Low Rise |
| Price Per Unit | £190,929 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Net Initial Yield | 6.34% | Building Size | 6,544 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Residential | Number of Floors | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1937/2018 |
| Price | £1,527,435 |
| Price Per Unit | £190,929 |
| Sale Type | Investment |
| Net Initial Yield | 6.34% |
| No. Units | 8 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,544 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built/Renovated | 1937/2018 |
Unit Amenities
- Air Conditioning
- Cable Ready
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Wooden Floors
- Refrigerator
- Oven
- Range
- Yard
- Lawn
- Window Coverings
Site Amenities
- Fenced Lot
- Laundry Facilities
- Vintage Building
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
Walk Score ®
Walker's Paradise (93)
Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 02-3211-007-1010 | Total Assessment | £925,046 |
| Land Assessment | £0 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £0 | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
02-3211-007-1010
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£925,046
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | RM-1, Miami Beach (Not zoned for Short Term Rental - FAR of 1.25) |
| RM-1, Miami Beach (Not zoned for Short Term Rental - FAR of 1.25) |
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6838 Abbott Ave
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