The Grey Havens | 815 W 39th St
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The Grey Havens 815 W 39th St
4 Unit Block of Flats £1,877,880 (£469,470/Unit) 4.77% Net Initial Yield Miami Beach, FL 33140
Investment Highlights
- Exceptional Miami Beach Location
- Additional Land for More Units
- Large ~900 square foot Units
- All Units Meticulously Renovated
- Washer/Dryer in Each Unit
- Below Market Rents
Executive Summary
The Grey Havens is a superb multi-family asset in Miami Beach- meticulously maintained and in a premier location. It features four huge, ~900 square foot, 2 Bedroom 2 bath apartments completely renovated down to the last detail. The property provides high style living in a secure yet vibrant neighborhood that breathes wealth and desirability.
Built in 1938 of reinforced concrete and stucco, The site and building were fully renovated and recertified in 2018. The Grey Havens now feature private entrances, a new roof, all new central A/C systems, electrical and plumbing systems, Impact windows and doors in each apartment, washer/dryers and original wood floors. In addition, there is ample outdoor covered space for true indoor/outdoor living complete with grill and manicured landscape befitting this singular neighborhood.
Surrounded by churches, schools, and upscale residences, the Grey Havens lies in a wealthy and prestigious neighborhood close to all major attractions- yet remains quiet and peaceful when rest and relaxation are key. The property is located just two blocks south of the 41st Street Strand which provides shopping, dining, entertainment and services of all types. 41st Street also provides direct access to Miami proper and the Beach.
This is a truly turnkey asset, and an absolute must see!
Built in 1938 of reinforced concrete and stucco, The site and building were fully renovated and recertified in 2018. The Grey Havens now feature private entrances, a new roof, all new central A/C systems, electrical and plumbing systems, Impact windows and doors in each apartment, washer/dryers and original wood floors. In addition, there is ample outdoor covered space for true indoor/outdoor living complete with grill and manicured landscape befitting this singular neighborhood.
Surrounded by churches, schools, and upscale residences, the Grey Havens lies in a wealthy and prestigious neighborhood close to all major attractions- yet remains quiet and peaceful when rest and relaxation are key. The property is located just two blocks south of the 41st Street Strand which provides shopping, dining, entertainment and services of all types. 41st Street also provides direct access to Miami proper and the Beach.
This is a truly turnkey asset, and an absolute must see!
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£119,621
|
£28.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£119,621
|
£28.63
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£30,672
|
£7.34
|
| Net Operating Income |
£88,949
|
£21.29
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £119,621 |
| Annual Per SF | £28.63 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £119,621 |
| Annual Per SF | £28.63 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £30,672 |
| Annual Per SF | £7.34 |
| Net Operating Income | |
|---|---|
| Annual | £88,949 |
| Annual Per SF | £21.29 |
Property Facts
| Price | £1,877,880 | Apartment Style | Low Rise |
| Price Per Unit | £469,470 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Net Initial Yield | 4.77% | Building Size | 4,178 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Residential | Number of Floors | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1938/2021 |
| Price | £1,877,880 |
| Price Per Unit | £469,470 |
| Sale Type | Investment |
| Net Initial Yield | 4.77% |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,178 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built/Renovated | 1938/2021 |
Unit Amenities
- Air Conditioning
- Dishwasher
- Kitchen
- Wooden Floors
Site Amenities
- Courtyard
- Laundry Facilities
- Picnic Area
- Cabana
- Furnished Units Available
- Grill
- Gas Range
- Recycling
- Vintage Building
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+2 | 4 | - | 900 |
Walk Score ®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 02-3227-015-0310 | Improvements Assessment | £164,132 |
| Land Assessment | £949,136 | Total Assessment | £1,113,268 |
PROPERTY TAXES
Parcel Number
02-3227-015-0310
Land Assessment
£949,136
Improvements Assessment
£164,132
Total Assessment
£1,113,268
zoning
| Zoning Code | RM-1 (RM-1: Residential Multifamily Low intensity) |
| RM-1 (RM-1: Residential Multifamily Low intensity) |
-
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The Grey Havens | 815 W 39th St
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