Riviera Terrace Apartments | 20 Units

6890 Abbott Ave, Miami Beach, FL 33141, USA
$3,800,000

Description

Marcus & Millichap is pleased to offer for sale 6890 Abbott Avenue, a 20-unit apartment building located in the North Beach neighborhood of Miami Beach. The property sits on a .28 acre site, consisting of two 10-unit buildings. The property is located on 69th Street and Abbott Avenue, with great visibility along a major road.
North Beach is about to undergo major renovations, stretching from the start of North Beach all the way to Surfside. Just some of the items Plan NOBE includes are a making a pedestrian-friendly
town center and providing more mobility options. Plans to build 283 apartments, including 125 micro-units and over 10,000 square foot of retail and restaurant space were recently approved and will go up between 71st and 72nd street, between Byron and Carlyle avenues.

  • Three blocks from the Atlantic Ocean
  • Value-add opportunity to renovate to a high standard
  • Large units, each with a front and rear entrance

Property Documents

  • City: Miami Beach
  • State/county: Florida
  • Zip/Postal Code: 33141
  • Country: United States

Detail

  • Price: $3,800,000
  • Year Built: 1957

Additional details

  • CAP RATE: 4.18%
  • NOI: $158,704

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