763 Pennsylvania Ave , for Sale

763 Pennsylvania Ave for Sale

Price $7,590,000.00

• Lot size 0
• Year Build 1936
• Waterfront
• Zip 33139
• Style
• Parking Description Loading Spaces, On Street
• Pool Yes
• Status Active

Description

Redevelopment Opportunity when you own control of this Condominium-Hotel (Royal South Beach), with beach access just two blocks away. The offer is to acquire 33 out of 42-total individual units (combined 10,083 square feet), with the potential to also acquire all commercial spaces located on ground level and fully operational (approximately an additional 7,890 square feet). Property licensed for ?nightly-rentals? that can be self-managed or rented through existing hotel rental-program. HOA fees are all-inclusive, including 24/7 concierge services (see attachments). All units are fully furnished with equipped kitchenettes. Building passed 40-Yr Recertification, and it is pending the 50-Yr recertification. Review MLS attachments and broker remarks for additional information.

Submit all offers via MLS Offers: https://www.mlsoffers.com/propertysearch.php?mls=A11811796 This offer gives buyer full control of the property?s future. The HOA Fee per unit is all-inclusive (utilities, insurance & 24/7 concierge service, etc.). Entire condo has 42-residential units, out of which I am offering 33 units. Also, 4 fully operational ground-level commercial spaces for an additional $3.9M. Average price per door is below market value at $225,000. Contact me for showing arrangements. All units are rented. Short term rental approved. Showings can be arranged upon official offer's due diligence. Building passed 40-Yr Recertification, and it is pending the 50-Yr recertification. Review MLS attachments and broker remarks for additional information.

ROYAL SOUTH BEACH CONDO UNIT 117 UNDIV 466/20383 INT IN COMMON ELEMENTS OFF REC 21561-4692 COC 26462-3678 06 2008 5

Central Business District, Corner Lot, Near Seaport

Redevelopment Opportunity when you own control of this Condominium-Hotel (Royal South Beach), with beach access just two blocks away. The offer is to acquire 33 out of 42-total individual units (combined 10,083 square feet), with the potential to also acquire all commercial spaces located on ground level and fully operational (approximately an additional 7,890 square feet). Property licensed for ?nightly-rentals? that can be self-managed or rented through existing hotel rental-program. HOA fees are all-inclusive, including 24/7 concierge services (see attachments). All units are fully furnished with equipped kitchenettes. Building passed 40-Yr Recertification, and it is pending the 50-Yr recertification. Review MLS attachments and broker remarks for additional information.

City:Miami Beach,Zoning:6400,List A O R:A-Miami Association of REALTORS,Tax Year:2024,Latitude:25.7781468,Cooling Y N:1,Heating Y N:1,List Price:7590000,Listing Id:A11811796,Longitude:-80.1337341,Mls Status:Active,Ownership:Self Proprietor/Individual,Year Built:1936,Directions:Corner of 7 Street and Washington Avenue, South Beach,Inclusions:Furniture/Fixtures, Business; Building And Land,Postal Code:33139,Street Name:Pennsylvania Ave,Coordinates:1:25.7781468,Lot Features:1:Corner Lot,2:Near Seaport,Photos Count:4,Building Name:Royal South Beach Condo-Hotel,Business Name:Royal South Beach,Business Type:1:Other,2:Retail,Days On Market:24,Lot Size Units:Square Feet,M I A M I R E_ Area:42,On Market Date:2025-05-29,Parcel Number:02-42-03-270-0330,Property Type:Business Opportunity,Street Number:763,Open Parking Y N:1,Public Remarks:Redevelopment Opportunity when you own control of this Condominium-Hotel (Royal South Beach), with beach access just two blocks away. The offer is to acquire 33 out of 42-total individual units (combined 10,083 square feet), with the potential to also acquire all commercial spaces located on ground level and fully operational (approximately an additional 7,890 square feet). Property licensed for ?nightly-rentals? that can be self-managed or rented through existing hotel rental-program. HOA fees are all-inclusive, including 24/7 concierge services (see attachments). All units are fully furnished with equipped kitchenettes. Building passed 40-Yr Recertification, and it is pending the 50-Yr recertification. Review MLS attachments and broker remarks for additional information.,Structure Type:1:Free Standing,2:Hotel/Motel,Approval Status:Unapproved,County Or Parish:Miami-Dade County,Frontage Length:12000,List Office Name:Best of Luxury Realty Corp.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:Price Increase,Parking Features:1:On Street,Postal Code Plus4:6116,Special Licenses:1:City License,2:Occupational License,3:Other,State Or Province:FL,Street Dir Prefix:E,Tax Annual Amount:80940,Unparsed Address:763 E Pennsylvania Ave, Miami Beach FL 33139,Year Established:1900,Building Features:1:Restaurant,Insurance Expense:1000,Listing Agreement:Exclusive Right To Sell,Road Frontage Type:1:Main Thoroughfare,Year Built Details:Resale,Building Area Units:Square Feet,Original List Price:7360000,Previous List Price:7360000,Public Survey Range:42,Documents Available:1:Bylaws And Documents,2:Copy Of Lease(S),I D X Participation Y N:1,Syndication Remarks:Redevelopment Opportunity when you own control of this Condominium-Hotel (Royal South Beach), with beach access just two blocks away. The offer is to acquire 33 out of 42-total individual units (combined 10,083 square feet), with the potential to also acquire all commercial spaces located on ground level and fully operational (approximately an additional 7,890 square feet). Property licensed for ?nightly-rentals? that can be self-managed or rented through existing hotel rental-program. HOA fees are all-inclusive, including 24/7 concierge services (see attachments). All units are fully furnished with equipped kitchenettes. Building passed 40-Yr Recertification, and it is pending the 50-Yr recertification. Review MLS attachments and broker remarks for additional information.,Listing Contract Date:2025-05-29,Originating System I D:miamire,Public Survey Section:3,Showing Instructions:Appointment Only,Street Number Numeric:763,Tax Legal Description:ROYAL SOUTH BEACH CONDO UNIT 117 UNDIV 466/20383 INT IN COMMON ELEMENTS OFF REC 21561-4692 COC 26462-3678 06 2008 5,Public Survey Township:42,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Typeof Business:Condo Hotel Night Rentals,M I A M I R E_ Internet Remarks:Offering 33 out of 42 total units and commercial spaces. Property licensed for nightly-rental. Great income-portfolio or redevelopment opportunity.,M I A M I R E_ Showing Time Flag:1,Contract Status Change Date:2025-05-29,Internet Address Display Y N:1,Operating Expense Includes:1:Manager,2:Real Estate Tax,3:Trash,4:Utilities,5:Water/Sewer,M I A M I R E_ Ok To Advertise List:With Written Broker Approval,Internet Entire Listing Display Y N:1,