Hispaniola House
Multifamily | 6 Units | $383,333/unit
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 1440 Pennsylvania Avenue in Miami Beach, FL (the “Property”). The two-story building contains four (4) 2-Bedroom/1-Bathroom units and two (2) 1-Bedroom/1-Bathroom units, with 4,331 square feet of gross living area and 4,903 square feet of gross area. The Property is situated upon a 0.09- acre parcel and offers street parking.
1440 Pennsylvania Avenue is ideally situated in the heart of South Beach, just steps from Lincoln Road, Ocean Drive, and Miami Beach’s world-famous shoreline. The property benefits from strong pedestrian and vehicle visibility, with immediate access to surrounding retail, dining, hospitality, and entertainment amenities that define the area’s dynamic lifestyle.
UNIQUE MULTI-USE OPPORTUNITY – MIAMI BEACH
This property presents a rare combination of current income and future flexibility. It is presently leased and operated as a multifamily rental, generating stable returns. However, what sets this building apart is its ability “as-of-right” to operate as a licensed short-term rental property in Miami Beach.\
Given the city’s restrictive short-term rental policies, very few properties qualify for this use without the need for variances or special approvals. This flexibility allows an investor to continue benefitting from reliable multifamily income today, while retaining the option to reposition the asset into a higher-yield short-term rental operation.
This dual-use potential makes the property an exceptional investment opportunity—balancing steady cash flow with the upside of a rare and highly sought-after use category in Miami Beach.
Investment highlights
ACCESS & CONNECTIVITY
Its central location provides convenient connectivity to major causeways, including the MacArthur and Julia Tuttle, ensuring efficient access to Downtown Miami, Brickell, and the broader South Florida region. Miami International Airport and PortMiami are both within a short drive, further supporting accessibility for residents, visitors, and businesses.
The property’s walkable setting, combined with nearby cultural venues, public parks, and beachfront amenities, enhances both livability and tenant appeal, making 1440 Pennsylvania Avenue a well-positioned asset within one of the nation’s most sought-after urban resort markets.
AREA AMENITIES & DEMAND DRIVERS
The area surrounding 1440 Pennsylvania Avenue in Miami Beach, FL, offers a vibrant blend of restaurants, shops, and lifestyle amenities ideal for both residents and visitors. Just steps away, Española Way features a variety of acclaimed dining choices such as Osteria Positano, La Ventana, Bungalow By The Sea, and iconic local haunts like La Mulata and Alma Cubana. Lincoln Road’s pedestrian-friendly shopping district is nearby, providing flagship brand stores, boutiques, and the popular Cheesecake Factory for classic American fare. Local favorites such as Monty's Sunset on the waterfront and numerous sidewalk cafes contribute to the area's lively social scene.
Retail convenience is bolstered by access to Bal Harbour Shops and the shops along Lincoln Road, as well as a range of everyday services, groceries, and wellness providers within walking distance. Community amenities include proximity to public parks, cultural attractions, and notable hotels such as The Betsy, known for its boutique ambiance and Carlton Room Café. The neighborhood benefits from Miami Beach’s ongoing initiatives in urban revitalization and quality-of-life enhancements, further increasing demand for both residential and commercial spaces. Major employment centers and hospitality venues are easily accessible via nearby transit options, contributing to the property’s sustained appeal.
HIGH UPSIDE POTENTIAL
1440 Pennsylvania Avenue presents a compelling opportunity with significant upside potential in one of the nation’s most dynamic real estate markets. Located in the heart of South Beach, the property benefits from unparalleled demand drivers, including global tourism, year-round residential appeal, and a thriving retail, dining, and entertainment ecosystem.
Future upside can be realized through targeted property enhancements, repositioning strategies, or adaptive reuse to meet evolving tenant and consumer preferences. Combined with Miami Beach’s consistent population and visitor growth, the property offers investors a rare chance to secure a stable asset with meaningful long-term value creation potential in a globally recognized market.
UTILITIES
The Property is separately metered for electricity, which tenants pay directly. The Landlord is responsible for providing public water and sewer, as well as a garbage contract for on-site trash removal.
STRONG RENTAL DEMOGRAPHICS & DEMAND
More than 38,500 people live within 1 mile of the Property with an average household income of $133,932. Over 66,300 people reside within 3 miles of the Property with an average household income of $187,143.
QUALITY OF LIFE AMENITIES
1440 Pennsylvania Avenue in Miami Beach, FL, offers exceptional quality of life amenities reflective of the vibrant South Beach lifestyle. Residents have immediate access to world-famous white sand beaches, scenic oceanfront parks, and the Miami Beach Boardwalk, ideal for walking, jogging, or cycling year-round. The neighborhood is renowned for its dynamic culinary scene and lively cafés, with sidewalk dining and globally inspired restaurants on Española Way, Ocean Drive, and Lincoln Road just steps away.
The amenity-rich location supports a healthy and active lifestyle, featuring premier recreational facilities such as Flamingo Park with tennis courts, swimming pools, and open sports fields. Cultural engagement is abundant thanks to nearby institutions like the Bass Museum of Art, regular outdoor concerts by the New World Symphony, and annual festivities tied to Art Basel and Miami Beach’s international arts and music calendar. Residents also benefit from a diverse mix of health and wellness offerings, yoga studios, and boutique fitness centers, all within walking distance.
Additional quality of life highlights include a highly walkable locale with nearby Publix, Trader Joe’s, and local markets, convenient access to public transportation including the Miami Beach Trolley, and around-the-clock opportunities for entertainment, shopping, and nightlife. The city’s robust public safety programs, year-round sunny weather averaging 248 days of sunshine, and access to leading healthcare institutions underscore the area’s enduring appeal for residents seeking both excitement and comfort in their daily lives.
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