924 Marseille Dr, Miami Beach FL 33141,Miami Beach,Miami-Dade County,Commercial Sale

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Commercial Sale Active

924 Marseille Dr, Miami Beach FL 33141

$4,995,000

Overview

Income/MultiFamily
Property Type

1926
Year Built

Description

Ocean 18 Lofts (924 Marseille Dr) is a three-story Art Deco apartment building featuring 18 fully renovated units in the heart of North Beach. The unit mix comprises of 7 standard studios, 4 large studios, 4 one-bedroom apartments, and 3 two-bedroom apartments. Most units come fully furnished. The property is fully occupied with a current average rent of $1,851. With significantly below-market rents, there is a potential rental upside of $75,900 annually ($350+ per unit per month) aligning with current market rates. Renovations include: New bathrooms with glass enclosures, new stainless steel appliances, updated cabinetry, updated PVC plumbing, new electrical system, porcelain tile flooring, new lighting, new fixtures, new doors with keyless entry, fully furnished, and quartz countertops.

Address

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Address Marseille Dr
City Miami Beach
State/county Miami-Dade County
Zip/Postal Code 33141

Details

Updated on April 22, 2025 at 10:34 pm

Property ID: A11601414
Price: $4,995,000
Year Built: 1926
Property Type: Income/MultiFamily
Property Status: Commercial Sale

Additional details

PublicSurveyRange: 32
ListAgentKey: 5f6a2415d801b9a45a3a8d2199460ffe
TaxLegalDescription: 2-3-10-11 53 42 OCEAN SIDE SEC OF ISLE OF NORMANDY PB 25-60 LOT 4 & W25FT LOT 4A BLK 3 LOT SIZE 75.000 X 125 COC 23756-2763 08 2005 5
OnMarketDate: 2024-05-14
ListAgentEmail: [email protected]
ContractStatusChangeDate: 2024-05-14
MajorChangeTimestamp: 2025-03-25T17:53:39.697Z
PhotosCount: 24
StatusChangeTimestamp: 2024-06-05T15:35:55.267Z
PriceChangeTimestamp: 2025-03-25T17:53:39.697Z
ListingKeyNumeric: 396783714
MajorChangeType: Price Decrease
ListingContractDate: 2024-05-14
Zoning: 3900
ListAOR: A-Miami Association of REALTORS
ListOfficeName: STL Advisors, LLC
OriginatingSystemKey: miamire
BusinessType: Residential-Multi-Family
PhotosChangeTimestamp: 2024-06-05T15:47:17.260Z
OriginatingSystemName: Miami Association of REALTORS®
ListOfficePhone: 561-901-1402
MlsStatus: Active
StreetNumber: 924
ListingKey: d89a8dcf5823c350f227a0cc34c902b7
StateOrProvince: FL
ListOfficeKey: c2a3a3f26a1d25064da01343ceaade3e
BridgeModificationTimestamp: 2025-04-22T19:26:14.578Z
ListAgentFullName: Max Loria
ListAgentOfficePhone: 561-901-1402
ParcelNumber: 02-32-10-013-0310
OtherExpense: 0
IDXParticipationYN: 1
InternetAddressDisplayYN: 1
ListAgentMlsId: 3455922
ModificationTimestamp: 2025-04-22T19:23:45.097Z
OriginatingSystemID: miamire
PreviousListPrice: 5050000
DaysOnMarket: 343
ListOfficeMlsId: STLA01
ListAgentDirectPhone: 561-901-1402
StreetNumberNumeric: 924
PostalCodePlus4: 2902
NumberOfUnitsInCommunity: 1
SyndicationRemarks: Ocean 18 Lofts (924 Marseille Dr) is a three-story Art Deco apartment building featuring 18 fully renovated units in the heart of North Beach. The unit mix comprises of 7 standard studios, 4 large studios, 4 one-bedroom apartments, and 3 two-bedroom apartments. Most units come fully furnished. The property is fully occupied with a current average rent of $1,851. With significantly below-market rents, there is a potential rental upside of $75,900 annually ($350+ per unit per month) aligning with current market rates. Renovations include: New bathrooms with glass enclosures, new stainless steel appliances, updated cabinetry, updated PVC plumbing, new electrical system, porcelain tile flooring, new lighting, new fixtures, new doors with keyless entry, fully furnished, and quartz countertops.
StructureType: Free Standing
ListAgentStateLicense: 3455922
PublicSurveyTownship: 32
StreetName: Marseille Dr
ListingAgreement: Exclusive Agency
PublicSurveySection: 10
SpecialListingConditions: Sale
OriginalListPrice: 5200000
BuildingAreaUnits: Square Feet
InternetEntireListingDisplayYN: 1
OriginalEntryTimestamp: 2024-06-05T15:35:55.267Z
SourceSystemKey: 396783714
LotSizeSquareFeet: 11437
BuildingAreaTotal: 9375