Description: 1550 Meridian Avenue is an eight-unit multifamily asset in the heart of South Beach’s most desirable district. All units are large One-bedroom (No Studios). Its proximity to Lincoln Road Mall, Flamingo Park, the Beach, New Convention Center, the renaissance of Alton Road, and the Entertainment District make it an attractive place to live for business owners and young professionals. RM-1 zoning allows for an additional 4,144 SF of construction in rear yard. Rents currently 20% under market. Design work complete & permits are in progress to install Central A/C, new Impact Windows and Doors, tankless water heaters, fencing, etc. Half of the One-bedroom units are approximately 750 square feet and can easily be converted to Two-bedroom units significantly increasing rents and desirability.
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