Investment Overview

6871 Abbott Avenue is an eight-unit, two-story apartment building located on Abbott Avenue, just south of 69th Street in the North Beach area of Miami Beach. The property has been extensively renovated by the current ownership over the last few years. The building has an attractive unit mix of six one-bed/one-bath units and two, two-bed/one-bath units. The building was constructed in 1948 of concrete block construction. Water, sewer, and trash removal are included in the rent. The property has gone through a tremendous renovation both inside and out. The units have received varying renovations ranging from full gut renovations to units, which were in better shape receiving minor upgrades. All units have new impact windows and doors and most have new kitchens and bathrooms, appliances, air-conditioners, flooring, lighting, plumbing fixtures, and receptacles. The exterior of the property received new landscaping, custom secured fencing, custom railing, sealcoating, and painting. The North Beach market is in the process of revitalization and growth with the implementation of the Town Center District which spans from 69th Street, north to 72nd Street, and from Collins Avenue to the Indian Creek Waterway. The district has a high-density zoning with increased height restrictions which vary depending on the zone. There are a number of projects in various stages of development with several projects already being developed. Other projects in the area that are underway include updating the North Beach Oceanside Park and Ocean Terrace Park.