WorkspaceDiscoverMultifamily · Miami Beach · Miami-Dade County
632 15th St, Miami Beach
THE ELIZABETH: an eight-unit South Beach apartment building offered at $2.65 million. County records show eight bedrooms, eight bathrooms and 5,939 gross/heated SF on a 6,000-SF lot. Broker remarks describe eight one-bedroom residences, full occupancy, central air and in-unit laundry.
Recorded status: Public broker page reports active. Checked: .
Dated listing record · recheck availability and legal unit count.
- Asking price
- $2,650,000
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 | $24,559 | Matches planning allowance |
| Annual owner-paid utilities | $9,600 | Matches planning allowance |
| Monthly HOA or condo fees | $100 | Matches planning allowance |
| Other annual operating expenses | $4,800 | 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
Eight one-bedroom / one-bath residences per broker; County record independently reports eight units, eight bedrooms and eight bathrooms.
- Reported units
- 8
- Reported listing area
- 5,939 sq ft
- Reported year built
- 1930
- Asking / reported sq ft
- $446
Broker info & key considerations To confirm
- Some portal fields label four units or 16 bedrooms/bathrooms. County records support eight units and eight bedrooms/bathrooms; confirm permits and leases.
- Broker advertises 'over $210,000+ in rent' without an explicit period in the cited statement. No annual rent, NOI or cap rate is inferred.
- Broker tax figure $32,992 differs from the portal's public-record tax figure. Buyer taxes, insurance and costs require separate review.
- Broker claims 40-year recertification and RM-1 zoning; obtain the actual records before relying on them. LoopNet no longer advertises its separate listing; confirm current availability.
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
- Compass · MLS A11940926Source observation · Nov 11, 2026
- Miami-Dade County parcel record · folio 0232340021890Source observation · Nov 11, 2026
- LoopNet · separate listing no longer advertisedSource observation · Nov 11, 2026
Questions to resolve
- Obtain a dated rent roll, leases, collections and trailing operating statements, including the period behind the advertised rent.
- Confirm current availability, legal eight-unit configuration, recertification and required repairs.
- Review parcel-specific zoning, historic-district constraints, flood/elevation evidence and commercial financing.
Similar properties
- 1438 Meridian Ave, Miami Beach: 6-unit multifamily, asking $2,400,000
- 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
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