$3,300,000

1124 Pennsylvania Ave Miami Beach, FL 33139

Flamingo Neighborhood

Estimated payment $20,401/month

Total Views 2,119
-- Bed
-- Bath
8,140 Sq Ft
$405 Price per Sq Ft

Highlights

  • Very Popular Property
  • Cooling Available
  • Heating Available
  • Old Spanish Architecture

About This Home

12 units Exclusive Investment Opportunity in Miami Beach Almost completely renovated 12-unit, 8,140 SF low-rise buildingseamlessly blends historic charm with modern appeal, offering investors a prime multifamily asset in a prestigiouslocation. Property Highlights: ? Turnkey Investment – Fully renovated with new roof (August 2024) ? Strong RentalHistory – 95% occupancy rate, ensuring stable cash flow ? Unit Mix & Sizes: 8 Studios (Avg. 500 SF) – Rented at$1,650/month - 4 One-Bedroom Units (Avg. 700 SF) – Rented at $2,100/month ? Recertification Passed – Fullycompliant and up to code ? Projected Cap Rate: 6.76% upon rental completion ART DECO` DISTRICT

Listing Agent

Fabrizio Passatore

The Keyes Company Brokerage Phone: 305-898-7224 License #3380549 Listed on: 09/07/2025

The Keyes Company

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $33,824

Year Built

  • Built in 1948

Home Design

  • Quadruplex
  • Old Spanish Architecture
  • Flat Roof with Façade front
  • Concrete Block And Stucco Construction

Interior Spaces

  • 8,140 Sq Ft Home
  • 2-Story Property
  • Parquet Flooring

Utilities

  • Cooling Available
  • Heating Available

Community Details

  • Property has a Home Owners Association
  • Ocean Beach Addn No 3 Condos
  • Ocean Beach Addn No 3 Subdivision

Listing and Financial Details

  • Assessor Parcel Number 02-42-03-009-1040

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$33,824

Year Built

Built in 1948

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1948
  • Property Sub Type: Quadruplex
  • Architectural Style: Attached, Old Spanish
  • Horses: No
  • New Construction: No
  • Building Stories: 2
  • Structure Type: Quadruplex, Fourplex
  • Subdivision Name: OCEAN BEACH ADDN NO 3
  • Year Built Details: Resale
  • MIAMIRE_PoolYN: No
  • Attribution Contact: 305-898-7224
  • Special Features: VirtualTour
  • Stories: 2

Interior Features

  • Flooring: Parquet
  • Living Area: 8140
  • Stories: 2

Exterior Features

  • Roof: Flat Roof With Facade Front
  • Construction Type: CBS Construction
  • Lot Features: Less Than 1/4 Acre Lot
  • Pool Private: No
  • View: No
  • Waterfront: No

Garage/Parking

  • Park Building Name: OCEAN BEACH ADDN NO 3

Utilities

  • Sewer: Public Sewer
  • Cooling: Electric
  • Cooling Y N: Yes
  • Heating: Electric
  • Heating Yn: Yes

Condo/Co-op/Association

  • Association Fee Frequency: Annually
  • Association: Yes

Association/Amenities

  • MIAMIRE_TypeofAssociation: Condo

Lot Info

  • Parcel Number: 02-42-03-009-1040
  • Zoning: 3900

Rental Info

  • Rent Includes: Hot Water, Gardener, Pest Control, Sewer, Trash Collection, Water

Tax Info

  • Tax Year: 2025
  • Tax Annual Amount: 33824

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/07/2025 09/07/25 For Sale $3,300,000 -- $405 / Sq Ft
Source: MIAMI REALTORS® MLS

About the Listing Agent

Fabrizio Passatore
Fabrizio Passatore

The Keyes Company

(786) 933-8660

Section Image

Fabrizio is a seasoned real estate professional with over 25 years of experience assisting foreign investors in navigating the U.S. market. Specializing in both commercial and residential real estate, he is currently a specialist with The Keyes Company and owns a property management firm. His commercial office is strategically located in the heart of South Beach's renowned Art Deco District.

Managing over $70 million worth of residential and multi-family properties, Fabrizio's portfolio

View Fabrizio's Profile

Fabrizio's Other Listings

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    $210,000

    • 1 Bath
    • 475 Sq Ft
    • 500 14th St
    • Unit 206
    • Miami Beach, FL

    GOOD TO EXCAPE THE BURDEN OF RENTAL. Centrally located Studio in good conditions possibility of lease with option to buy. close to services, schools, Lincoln and the Ocean. Good investment for easy rental. Association has reserves and no specific assessment has been deliberated.BUENO PARA ESCAPAR DE LA CARGA DEL ALQUILER.Estudio centrico en buenas condiciones con posibilidad de

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  • 1560 Pennsylvania Ave Unit 228, Miami Beach, FL 33139

    $276,000

    • 1 Bed
    • 1 Bath
    • 653 Sq Ft
    • 1560 Pennsylvania Ave
    • Unit 228
    • Miami Beach, FL

    CORNER UNIT Charming 1-Bedroom, 1-Bath Garden Corner Unit Bright and airy corner unit with abundant natural light. Located in the heart of the Art Deco District, just steps away from Lincoln Road and Ocean Drive. This inviting residence offers a serene garden setting and a prime location near shopping, dining, and entertainment. A perfect blend of style and convenience! Reserves 10% -

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  • 1600 Euclid Ave Unit 203, Miami Beach, FL 33139

    $290,000

    • 1 Bed
    • 1 Bath
    • 528 Sq Ft
    • 1600 Euclid Ave
    • Unit 203
    • Miami Beach, FL

    A beautiful, spacious corner unit located in the prestigious Evelyn building in South Beach. This luminous unit features high ceilings and a prime corner position. Conveniently situated close to Lincoln Road and the ocean. The building has an association with reserves, and all special assessments have already been paid by the seller. That includes new roof, cosmetic external and full building

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  • 1616 Euclid Ave Unit 6, Miami Beach, FL 33139

    $265,000 Under Contract

    • 1 Bed
    • 1 Bath
    • 674 Sq Ft
    • 1616 Euclid Ave
    • Unit 6
    • Miami Beach, FL

    Excellent corner apartment just 30 feet from Lincoln Road and within walking distance of the ocean. Perfect for investment or personal living. Features spacious XL one-bedroom layout, wooden floors, and all appliances. Located in a well-maintained condominium with reserves and no special assessments for 2025. A must-see!

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  • 1605 Lenox Ave Unit 1605-3, Miami Beach, FL 33139

    $310,000

    • 1 Bed
    • 2 Baths
    • 714 Sq Ft
    • 1605 Lenox Ave
    • Unit 1605-3
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    This charming garden-level apartment is nestled in a secure, gated building located right in the heart of the Miami Beach Art Deco District. The unit features one bedroom, a den that can serve as an office, and two bathrooms. It offers multiple closets, dual access, and an interior garden with a BBQ area for outdoor enjoyment.Inside, you'll find new flooring throughout and a modern kitchen.

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  • 1000 Brickell Plaza Unit PH6002, Miami, FL 33131

    $3,950,000

    • 3 Beds
    • 3.5 Baths
    • 2,342 Sq Ft
    • 1000 Brickell Plaza
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    BRICKELL FLATIRON : SELLER MOTIVATED - PRICE REDUCTION MANHATTAN LIFESTYLE 10 MINUTES AWAY FROM CARIBBEAN BEACHES 64story luxury tower in Miami’s Brickell district offers 527 residences, including the exclusive Penthouse 6002.This stunning corner unit features expansive terraces with panoramic views of the city skyline and Biscayne Bay, fully furnished with elegant Italian minimalist design.

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  • 1219 Meridian Ave Unit 6, Miami Beach, FL 33139

    $210,000 Sold Dec 11, 2024

    • 1 Bed
    • 1 Bath
    • 570 Sq Ft
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    Very nice one bedroom, larger than usual, located in the Art Deco District of South Beach. It’s close to all services, stores, restaurants, and within walking distance to the ocean and Lincoln Road. The apartment features impact windows in a gated and secure building. Recently remodeled, it’s part of a well-managed association with reserves unit is part of a 12 units portfolio. all units located

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  • 1550 Pennsylvania Ave Unit 122, Miami Beach, FL 33139

    $238,000 Sold Oct 04, 2024

    • 1 Bed
    • 1 Bath
    • 436 Sq Ft
    • 1550 Pennsylvania Ave
    • Unit 122
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    Very nice one bedroom in quiet complex in the heart of SoBe. close to Lincoln, Ocean and all services. Modern kitchen fully equipped. Internet water and reserves included in condo fees.

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  • 1611 Michigan Ave Unit 7, Miami Beach, FL 33139

    $140,000 Sold Jun 16, 2025

    • 1 Bed
    • 1 Bath
    • 446 Sq Ft
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    • Unit 7
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    Priced to Sell Quickly! Excellent investment opportunity in the heart of South Beach, just minutes from the beach, Lincoln Road, shopping, dining, and top-rated schools. This 1-bedroom condo is easy to rent and features low HOA fees. The Condo Association is actively working with the city on the 40-year recertification. The seller will escrow all necessary funds for special assessments and

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Source: MIAMI REALTORS® MLS

MLS Number: A11873913

MIAMI REALTORS® MLS
Florida Miami/Dade County Miami Beach 33139 Flamingo

1124 Pennsylvania Ave, Miami Beach, FL

This home is located at 1124 Pennsylvania Ave, Miami Beach, FL 33139 and is currently priced at $3,300,000, approximately $405 per square foot. This property was built in 1948. 1124 Pennsylvania Ave is a home located in Miami-Dade County with nearby schools including Fienberg-Fisher K-8 Center, Nautilus Middle School, and Miami Beach Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MIAMI REALTORS® MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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Fabrizio Passatore
Fabrizio Passatore
Listing Agent Section Image
The Keyes Company
(786) 933-8660