1345 Pennsylvania Ave.

Stabilized rentals, decade-long quarterly yield

18-unit Art Deco-era multifamily, 8,219 sqft in the Flamingo-Lummus legal short-term rental zone.

Short-term rental strategy on an 18-unit multifamily building at 1345 Pennsylvania Avenue in Miami Beach, Florida, within the Flamingo-Lummus short-term rental overlay. The 8,219-sqft structure dates to 1924, placing it within the Art Deco-era building set that defines the SOBE Village visitor experience. The overlay, established under Miami Beach Ordinance 2015-3928, permits short-term rental operation subject to the city's registration and operational rules, and the 18-unit scale supports a programmatic rather than single-unit approach to short-term rental management. The strategy underwrites unit-level specification to the updated-comparable tier within the overlay, furnishing and styling aligned to the Flamingo-Lummus demand profile, channel distribution across major short-term rental platforms, and revenue management across the seasonal curve. The 18-unit count supports operational leverage across staffing, cleaning, and guest services. Hold duration is expected to span a stabilization window during which the unit base is brought to specification, followed by a yield-focused hold. Asking basis of 3.7 million dollars reflects the unit count, the Art Deco-era structure, and the overlay positioning. Capital deployment covers unit-level renovation and furnishing across the 18 units, systems and envelope updates as required, and operational infrastructure for short-term rental management at scale. Returns are targeted from the revenue uplift attributable to operating within a legal short-term rental zone at scale with a specification tier aligned to the comparable set.

Address

1345 Pennsylvania Ave.

City

Miami Beach, FL

ZIP

33139

Beds

19

Baths

19

Living sqft

8,219

Lot sqft

—

Year built

1924

Waterfront

NONE

Buy-and-hold economics model using asset basis, target capitalization, maturity, and downside/upside valuation scenarios. Detailed sponsor line items are shown when a full proforma is available.

Source: strategy economics model · figures are forward-looking estimates · not a guarantee of return