Listed by KW Commercial Boca Raton East, KW Commercial
$1,650,000
8031 Hawthorne Ave Miami Beach FL 33141
Details
APN 0232020080460
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,429
Units 4
Year Built 1947
Buildings 1
Stories 2
Lot Size (SqFt) 6,215
Zoning 3900
Prime Biscayne Point Fourplex
Marketing description
Multifamily • 4 Units
Biscayne Point fourplex on a 6,215 SF corner lot offering strong income and upside potential. The property features four 2BD/1BA units, all rented at $2,300/month ($110,400 annual gross). Passed 40-year recertification in 2019, with elastomeric roof redone in 2025. One unit has central A/C; three have wall units.
Additional income opportunity with a detached garage currently used for storage, with potential to rent for ~$1,500/month. Value-add potential through interior upgrades could increase rents to ~$2,600/unit. Zoning allows redevelopment up to 5 stories. No seller financing.
Investment highlights
- Prime Location – Biscayne Point: Situated in a desirable waterfront neighborhood in Miami Beach, known for strong rental demand and limited multifamily inventory.
- Stabilized Income Stream: Fully leased fourplex with consistent cash flow, generating $110,400 in annual gross income.
- Value-Add Opportunity: Potential to increase rents through interior renovations (kitchens, bathrooms, impact windows), with projected rents up to ~$2,600/unit.
- Additional Revenue Potential: Detached garage/storage space offers upside with estimated rental income of ~$1,500/month.
- Capital Improvements Completed: 40-year recertification passed (2019) and elastomeric roof updated in 2025, reducing near-term maintenance risk.
- Flexible Exit Strategy: Suitable for both long-term hold investors seeking yield and value-add investors aiming to reposition the asset.
- Development Upside: Zoning allows for redevelopment up to 5 stories, providing significant long-term land value potential.
- Strong Rental Market: Miami Beach continues to benefit from population growth, tourism, and high barriers to entry, supporting rent growth and asset appreciation.
Listing Contacts
Listed by KW Commercial Boca Raton East, KW Commercial
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