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About This Property
Premier Investment Opportunity | Fully Stabilized 6-Unit Multifamily Asset in the Heart of South Beach Exceptional 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, 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 value Long-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.
Property Features
County
Miami-Dade County
Section
3
Area
3600
Subdivision
Interior
Cooling
Bedrooms
Floors
Ceramic Floor
Full Baths
Appliances
Heating
Style
Garage Spaces
Construction/Exterior
Concrete Block Construction
Patio / Deck Description
Exterior
Has a Pool
Possession
Funding
Lot Size in Acres
Water
Sewer
Lot Size in Sq. Ft.
7500
Has Waterfront
No
Parking Description
On Street
View
Has Garage
No
Roof/Attic
Barrel Roof
Senior Community
No
Other Utilities
Property Type
Commercial Sale
Pets
Property SubType 2
Income/MultiFamily
Tax Year
NA
Year Built
1935
Tax Amount
$25015
APN
NA
Square Feet Source
NA
Map
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