WorkspaceDiscoverRedevelopment research · Miami Beach · Miami-Dade County
1974 Marseille Dr, Miami Beach
Fausto Commercial markets four existing units at $2M with $4,400 monthly gross rent. Its page was updated October 1, but MLS A11871019 remains expired as of September 2. Availability is unresolved; the 12-unit project is proposed capacity, not existing inventory.
Recorded status: Expired MLS / broker for-sale conflict; research only. Checked: .
Dated listing record · recheck availability and legal unit count.
- Reported gross yield
- 2.6% Rent ÷ asking price
- Asking price
- $2,000,000
Monthly rent · Reported: $4,400/mo
- Estimated annual NOI
- -$13,693 Before debt and capital reserves
- Estimated cap rate
- -0.7% Modeled NOI ÷ purchase price
- Est. cash flow / mo
- -$1,273 All cash · after reserves
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 | $4,400 | Matches source observation |
| 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 | $11,280 | Matches planning allowance |
| Annual owner-paid utilities | $4,800 | Matches planning allowance |
| Monthly HOA or condo fees | $100 | Matches planning allowance |
| Other annual operating expenses | $2,400 | 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
4 existing units; configuration not published
- Reported units
- 4
- Reported listing area
- 1,968 sq ft
- Asking / reported sq ft
- $1,016
- Rent / year
- $52,800
Broker info & key considerations To confirm
- The broker for-sale page and expired MLS history conflict. Confirm the current offering before making plans.
- The page header shows a different listing sold in January 2024; that is not a new sale.
- The broker describes a five-story, 12-unit concept with 11 parking spaces. Obtain the approved plans and permit status; the headline alone does not verify entitlements. Land area differs within the broker page: 8,712 versus 8,822 SF.
Source evidence and diligence
Financial figures observed Oct 5, 2026. Reported income is not audited collections. Editable estimates, financing and saved assumptions are separate from these source facts.
Gross rental yield basis
Source-reported as of Oct 5, 2026 whole-property annual base rent divided by asking price, before vacancy, expenses and financing. Freshness is unverified. This is not cap rate or a guaranteed return. Excludes separate fees and membership income.
Sources
- Listing page on crexi.comWorkbook observation · Sep 22, 2026
- 1 Oct availability review · Compass history · MLS A11871019Source observation · Oct 1, 2026
- Fausto Commercial · direct broker page updated 1 Oct; MLS availability conflictSource observation · Oct 5, 2026
Questions to resolve
- Obtain unit leases, tenant estoppels and a trailing 12-month operating statement.
- Verify legal unit count, title, permitted work and possession terms.
- Obtain wind/flood insurance quotes and a buyer property-tax estimate.
- Inspect roof, structure and recertification records; price immediate work.
Similar properties
- 927 4th St, Miami Beach: redevelopment research, asking $1,699,000
- 2765 NW 17th Ter, Miami: redevelopment research, asking $1,625,000
- 1975–1977 71st St, Miami Beach: redevelopment research, asking $1,599,000
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