1060 Pennsylvania Ave # 4, Miami Beach FL 33139

For sale Days on market 161

PENN ELEVEN [ Stock Cooperative ]

$159,000

$418/sq ft

$16,000
Price Decreased

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Overview

Bath

Year Built

1962

Sqft

380

Property Type

Stock Cooperative

Property Description

INVESTOR OPPORTUNITY — STEPS FROM THE BEACH! Vacant and unfurnished updated studio in the heart of South Beach, offering an excellent cash-flow investment with an estimated ~10% cap rate under current long-term rental guidelines. Located in a well-maintained building that has passed its 40-Year Recertification. Offered at $159,000 with HOA of $481/month (paid annually). Approximately $700,000 in capital improvements completed over the last five years, including electrical, structural, and roof upgrades — all fully assessed. HOA includes all standard insurance, including wind. Building is quiet, secure, and professionally managed. The unit features two separate entrances, including a private street entrance, increasing tenant appeal. Short-term rentals and Airbnb are not permitted; however, the building allows long-term rentals with a minimum of two leases per year, providing stable and predictable income. With the unit vacant and rent-ready, this is an ideal opportunity for investors seeking immediate placement, strong returns, and low future capital risk in one of Miami Beach’s most desirable locations. Cash only purchase.

Property Details

MLS#

A11839216

Unit Floor

Total Floor in Bldg

Building

PENN ELEVEN

Address

1060 Pennsylvania Ave

City

Miami Beach

State/county

Zip/Postal Code

33139

Area

Penn Eleven Co-op

Country

United States

HOA

Yes

Assoc Fee

$481

Assoc Fee Pd

Monthly

Tax Amount

$1,114

Maint Fee

$--

Tax Year

2024

Gas Range

Garden View

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