Description

Noble Pine Tree Apartments is a fully renovated 12-unit boutique multifamily on prestigious Pine Tree Drive, offering modern finishes, Art Deco charm, and strong in-place income in one of Miami Beach’s most desirable neighborhoods. With a proven rent roll ($291,000 gross with an NOI of about $215,350), upgraded units featuring premium kitchens, sleek baths, and in-unit laundry in most residences, the property delivers turnkey stability with rental upside. Lush outdoor spaces—hammocks, shaded seating, and café-style areas—create a tropical retreat just a 5-minute walk to the beach. Steps from the new $42.8M Bayshore Park with 19 acres of green space, tennis courts, dog park, and enhanced security, the location ensures long-term appreciation and high tenant demand. Offered at $3.8M with a ~5.8% cap rate, the asset provides rare value in a high-barrier-to-entry market and is ideal for investors seeking both steady yield and premium Miami Beach positioning.

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Property information

Property type

Commercial Sale

Sub-type

Multi Family

Year built

1935

Living area

5,983 Sq Ft

Lot size

8,580 Sq Ft

Annual taxes

$43,437

Price / Sq Ft

$535

Days on market

294

Parcel number

02-32-27-004-0220

Features

Flooring

Laminate

Parking

Assigned

Roof

Shingle

Construction

Block