South Beach Multifamily, Miami Beach

THE OPPORTUNITY 531 16th Street — known locally as "Avanti" — is a 14-unit multifamily building in the heart of Miami Beach's Art Deco Historic District, offered at $1,700,000. Based on 2025 assessed and comparable data, the estimated market value sits at approximately $2,530,000 — placing this acquisition approximately 33% below current market, with no deferred maintenance and a brand-new roof completed in December 2024. The property is fully occupied with stable, long-term tenants and a low-turnover history, providing immediate, predictable cash flow from day one. THE ASSET Address: 531 16th Street, Miami Beach, FL 33139 Units: 14 Asking Price: $1,700,000 Estimated Market Value (2025): ~$2,530,000 Price per Unit: ~$121,400 Property Taxes (2025): $47,130 (~$3,366/unit) Roof: New — completed December 2024 Occupancy: 100% — fully rented, long-term tenants in place Land Lease: Approximately 20 years remaining Located steps from Lincoln Road, one block from the beach, and within Miami Beach's most active and walkable retail and dining corridor. The Art Deco Historic District generates sustained year-round rental demand from domestic and international tenants, with exceptionally low vacancy at the neighbourhood level. VALUE-ADD & EXIT The land-lease structure is deliberately reflected in the acquisition price and provides an attractive entry basis for investors comfortable with short-to-mid-term hold strategies. With rents currently below area market rates, there is meaningful upside through gradual lease-renewal repositioning — without displacement pressure or immediate capital outlay. Conservative underwriting based on current occupancy and the existing expense profile supports a strong yield-on-cost from day one. Exit paths include resale to a value-add operator at stabilised rents, repositioning to furnished or extended-stay rentals (subject to local short-term rental ordinances), or a structured hold for income through the land-lease term. Full investment memorandum, current rent roll, and 2025 tax documentation are available upon enquiry. Introduced by Fabrizio Passatore through the Keyes Company network.