Discover Noble Pine Tree Apartments, a fully renovated 12-unit boutique multifamily property ideally located on prestigious Pine Tree Drive in Miami Beach. Blending timeless Art Deco charm with modern finishes and strong in-place income exceeding $372,000 annualy, this property delivers turnkey stability, excellent yield, and long-term appreciation in one of Miami Beach’s most sought-after neighborhoods. Highlights Price: $3,600,000 | Cap Rate: ˜ 5.8 % (on actuals) Annual Gross Rent: $373,800 | NOI (Est.): $260,000 – $275,000 Unit Mix: 1 × 2BR | 5 × 1BR | 6 × Studios Avg. Rent per Unit: $2,175 | Potential Rent: $2,400 – $2,600 per unit Lot Size: 8,580 SF | Construction: Concrete block | Fully Renovated Price per Unit: ˜ $300,000 | Price per SF: $600.00 Each unit has been tastefully upgraded with quartz countertops, premium cabinetry, modern appliances, designer lighting, and sleek bathroom finishes. Most units include in-unit washer/dryers, maximizing tenant retention and reducing operating costs. The property’s lush outdoor areas with shaded seating, hammocks, and café-style tables create an inviting tropical retreat just a 5-minute walk to the beach. Nestled between multi-million-dollar estates and luxury hotels, the property sits less than a block from the newly completed $42.8 million Bayshore Park Redevelopment, featuring: 19.4 acres of green space with a central lake and pavilion Six tennis courts, dog park, jogging trail, and playgrounds Enhanced lighting and security that further elevate Mid-Beach appeal This transformative public investment ensures lasting appreciation and premium tenant demand. Investment Opportunity Turnkey, cash-flowing asset with proven rent roll and low vacancy. Stabilized income with rental upside through repositioning or furnished corporate rentals (subject to zoning). Ideal 1031 exchange replacement or first-entry Miami Beach investment. High-barrier-to-entry location where land scarcity and zoning limits protect long-term value. At $3.6 million, Noble Pine Tree Apartments offers institutional-grade fundamentals in a boutique footprint, a rare opportunity on Pine Tree Drive. Additional Information Shown by appointment only — please do not disturb tenants. Full rent roll and financials available upon request. Broker inquiries welcome.
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