WorkspaceDiscoverMultifamily · Miami Beach · Miami-Dade County
1438 Meridian Ave, Miami Beach
PARKEDGE: a six-residence building across from Flamingo Park, offered at $2.4 million. County records show six units and 4,644 gross/heated SF on a 3,900-SF lot. The broker describes renovated interiors, two loft-style residences and four one-bedroom apartments, with annual leases and full occupancy.
Recorded status: Public broker page reports active. Checked: .
Dated listing record · recheck availability and legal unit count.
- Asking price
- $2,400,000
Monthly rent · Scenario: Not reported
Assumptions behind these estimates
Starting values for this brief. Change any of them in the interactive brief; your changes stay in your browser. Default values
| Input | Value | Basis |
|---|---|---|
| Total scheduled rent per month | Not set | Needs your estimate |
| Vacancy (%) | 5% | Matches planning allowance |
| Management (% of collected rent) | 8% | Matches planning allowance |
| Maintenance (% of total rent) | 5% | Matches planning allowance |
| Buyer annual tax assumption (% of price) | 1.88% | Matches planning allowance |
| Annual insurance | $19,013 | Matches planning allowance |
| Annual owner-paid utilities | $7,200 | Matches planning allowance |
| Monthly HOA or condo fees | $100 | Matches planning allowance |
| Other annual operating expenses | $3,600 | Matches planning allowance |
| Capital reserves (% of total rent) | 3% | Matches planning allowance |
| Down payment (%) | 100% | Matches planning allowance |
| Mortgage rate (%) | 7% | Matches planning allowance |
Unit mix & possession
Six residences; county records show six bedrooms and six bathrooms in total. Broker describes two loft-style residences and four one-bedroom apartments.
- Reported units
- 6
- Reported listing area
- 4,644 sq ft
- Reported year built
- 1936
- Asking / reported sq ft
- $517
Broker info & key considerations To confirm
- The portal labels the building a quadruplex, but the County record and broker remarks identify six units. Confirm permitted configuration and current leases.
- Occupancy and renovation statements are broker claims; the rent roll, collections, operating expenses and NOI have not been supplied.
- County effective area is 4,114 SF, distinct from the 4,644 gross/heated SF used here.
Source evidence and diligence
Financial figures observed Nov 11, 2026. Reported income is not audited collections. Editable estimates, financing and saved assumptions are separate from these source facts.
Gross rental yield basis
Needs supported whole-property rent or your rent assumption and a positive asking price. Unknown rent is not zero.
Sources
- Zillow · MLS A12023899Source observation · Nov 11, 2026
- Miami-Dade County parcel record · folio 0232340150260Source observation · Nov 11, 2026
Questions to resolve
- Obtain leases, collections, trailing operating statements and insurance quotes before underwriting returns.
- Review permits, recertification records, open violations and property-specific flood/elevation evidence.
- Confirm six-unit financing terms with a commercial multifamily lender.
Similar properties
- 815 W 39th St, Miami Beach: 4-unit multifamily, asking $2,350,000
- 912 Euclid Ave, Miami Beach: 4-unit multifamily, asking $2,250,000
- 905 SW 13th Ct, Miami: 4-unit multifamily, asking $2,200,000
Florida property research
Research scope includes Miami-Dade, Broward, the Florida Keys and Flagler County. Published observations vary by market.
[1] Gross yield excludes costs and financing. Source figures are unverified; estimates use editable assumptions. Check current listing availability. County records are separate from listings. Saves stay in this browser; export a backup before clearing site data. Sources & methods