Michael Davalos, P.A.

Crespi Apartments 

640-650 85th Street &

725-735-755-785 84th Street

Miami Beach, FL  33141

 

Lot size: 56,683

Zoning: RM-1 Multi family

Allowable living area: 27,221

Price: $5,600,000​

 

7 Lots, 7 buildings, 4 units each building,

3 bedrooms each unit. 

Current NOI of $337,000 a year. The upside potential here is huge as these lots are all underdeveloped according to current zoning. Zoned RM-1 Multifamily low density with potential to more real estate or leave it as is and make a 6% Cap rate. 

74th & Harding Apartments 

7451 Harding Avenue

Miami Beach, FL  33141

 

Living area: 9,154

Zoning: CM-1 being used as Multi family

Lot size: 7,000

Sale Price: $3,349,500​

Closing Date: March 2015

 

Corner lot  apartment building close to business district in North Beach. The building consisted of 24 studio apartments. Transaction was closed using financing. Aquired by local real estate investor to add to his growing portfolio in North Beach, Miami Beach.