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About This Property
733 Michigan is an exceptionally rare, fully gut-renovated multifamily asset situated on an oversized double lot in the heart of South Beach. Simply put, the Property represents a one-of-a-kind South Beach asset and one of the most comprehensively upgraded Art Deco multifamily offerings currently available in this highly sought-after market. The site’s expansive footprint stands in sharp contrast to the densely built, smaller-parcel properties that define the surrounding area, offering a scale and openness rarely encountered in this submarket. In addition, a sister property located at 1535 West Avenue—comprised of 8 similarly renovated units—is available for acquisition either individually or as part of a portfolio, providing investors with immediate scale and operational efficiencies. Ownership has invested over $860,000 to transform the Property into a best-in-class rental asset, featuring high-end, condo-quality finishes throughout. 733 Michigan consists of eight (8) 2-bedroom / 1-bathroom units averaging $2,925 in current rents and two (2) 3-bedroom / 2-bathroom units averaging $4,350, most secured under 12-month leases. All units are fully furnished. Given the level of renovation and unit finishes, the asset is well-positioned for a potential future condominium conversion, offering an additional monetization pathway atop strong in-place cash flow.
Property Features
County
Miami-Dade County
Section
3
Area
6802
Subdivision
Interior
Cooling
Bedrooms
Floors
Full Baths
Appliances
Heating
Style
Garage Spaces
Construction/Exterior
Patio / Deck Description
Exterior
Has a Pool
Possession
Lot Size in Acres
Water
Sewer
Lot Size in Sq. Ft.
14000
Has Waterfront
No
Parking Description
View
Has Garage
No
Roof/Attic
Senior Community
No
Other Utilities
Property Type
Commercial Sale
Pets
Property SubType 2
Income/MultiFamily
Tax Year
NA
Year Built
1938
Tax Amount
$
APN
NA
Square Feet Source
NA
Map
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