# 828 Pennsylvania Avenue, Miami Beach, FL 33139

> **TL;DR:** residential multi family, $3,200,000 ($484/sqft), built 1928, 6,608 sqft. Est. $13,867/mo. Listed 75 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $3,200,000 |
| Price/sqft | $484 |
| Square Feet | 6,608 |
| Year Built | 1928 |
| Lot Size | 6,970 sqft (0.16 acres) |
| Property Type | Residential Multi Family (Other) |
| Status | For Sale |
| Days on Market | 75 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $13,867 |
| **Total** | **$13,867** |

## Property Highlights

- Built in 1928
- 0.16 acre lot

## Description

### Agent Description
Attractive multifamily 12-unit boutique property in the heart of the popular and highly desirable Flamingo Submarket of South Beach. Located two blocks away from the beach, the property is well-maintained and fully-leased. Brand new roof put on in 2025. Constructed in 1928 and partially renovated in 2024, the property has a rentable square footage of 5,862 and is situated on 0.16 acres of land, consisting of a unit mix of three studio and nine one-bedroom apartments with upgraded units featuring renovated bathrooms and kitchens with stainless steel appliances. Cap Rate 4.5%, 2025 Effective Gross Income: $241,000, 2025 Net Operating Income: $140,700Pro Forma Cap Rate: 6.25%, Pro Forma EGI: $305,580, Pro Forma NOI: $200k Attractive multifamily 12-unit boutique property in the heart of the popular and highly desirable Flamingo Submarket of South Beach. Located two blocks away from the beach, the property is well-maintained and fully-leased. Brand new roof in 2025.Constructed in 1928 and partially renovated in 2024, the property has a rentable square footage of 5,862 and is situated on 0.16 acres of land, consisting of a unit mix of three studio and nine one-bedroom apartments with upgraded units featuring renovated bathrooms and kitchens with stainless steel appliances. Residents also benefit from the convenience of an on-site laundry facility. Units have a mix of wall and central air conditioning.The property offers an investor the opportunity to acquire an excellently located two-story Art Deco style building that reflects the charm of Miami Beach in a bygone era. In addition, the in-place renovations afford an investor the opportunity to raise rents immediately or continue to upgrade units and execute a value-added strategy.Cap Rate 4.5%, Effective Gross Income: $241,000, Net Operating Income: $140,700Pro Forma Cap Rate: 6.25%, Pro Forma EGI: $305,580, Pro Forma NOI: $200k

## Location

- **Address:** 828 Pennsylvania Avenue, Miami Beach, FL 33139
- **County:** Miami-Dade
- **Coordinates:** 25.778925, -80.134262
- **Google Maps:** https://www.google.com/maps?q=25.778925,-80.134262

## Listing Agent

- **Name:** Albert Simon
- **Brokerage:** LoKation
- **Phone:** 5715010827
- **Email:** ams2123@gmail.com

## Primary Photo

![828 Pennsylvania Avenue - Primary Photo](http://lh.rdcpix.com/af5ab6296a216e6147115fdc87a87bb4l-f2190192024r.jpg)

*10 total photos available on [listing page](https://www.propertysimple.com/listing/828-pennsylvania-avenue-miami-beach-fl-33139-10546676)*

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**MLS#:** F10546676 | **Updated:** 2026-04-24
**Source:** listhub

*Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/828-pennsylvania-avenue-miami-beach-fl-33139-10546676)

---

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