November 20, 2024 – Alec Bashein of Horvath & Tremblay has arranged the sale of 641 10th Street, a thirteen (13) unit multi-family building in Miami Beach, Florida. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,740,000.
641 10th Street is a 13-unit multifamily property centrally located within the Flamingo Submarket of Miami Beach, Florida. The Property is improved by two (2), two-story buildings that were constructed of concrete block in 1930 on a 7,000 square foot lot. The well maintained property is comprised of five (5) efficiency units, three (3) studio units, four (4), 1-Bedroom/1-Bathroom units, and one (1), 2-Bedroom/1-Bathroom unit. Rents in the Property are below market rates and the opportunity exists to significant increase rents in a highkly desirable residential market. Located in the epicenter of South Beach, the property is right around the corner from Flamingo Park, which features an array of amenities including a swimming pool, sports fields, basketball courts, tennis courts and a playground. The property is a matter of steps from Washington Avenue, Collins Avenue and Ocean Drive, which are lined with some of Miami Beaches finest dining, entertainment, and shopping experiences. Additionally, the location offers ease of access to major retailers, employment hubs, shopping, public transportation (several bus routes), and major roads including Interstate I-195, A1A, SR 907, and SR 934.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.