8260 Byron Avenue

Miami Beach

8260 Byron Avenue

Miami Beach

2019

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OCEAN BAY

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THE PERFECT PLACE TO LIVE

15 MINUTES TO SOUTH BEACH!

20 MINUTES TO DOWNTOWN!

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THE PERFECT PLACE TO LIVE

5 MINUTE WALK TO THE BEACH!

1 MILE TO BAL HARBOUR!

Take advantage of multitudes of public and private investments just beginning today in North Beach,

Miami Beach and ride the wave of growth! North Beach has $90M in public improvements committed thru

2019 and another $98M coming over the next 10 years. Additionally, the new North Beach Town Center – just

one mile away - with $80M+ spent in private land development, breaks ground Q4 2019!

Located on 75’ of waterfront, walkable to the beach & 36-acre North Beach Oceanside Park, this highly

desirable 20-unit multi-family investment building, Ocean Bay, is the ideal asset. All residences are fully

renovated featuring all new high-impact windows, SS appliances, flooring, quartz countertops, A/C units &

modern open floorplans. New plumbing, electrical & mechanical, new roof, new gates, new fire alarm

systems, new laundry facilities, and a completed 40-year certification make this investment an easy choice!

Building includes a rare opportunity w/4-units licensed for short-term/hotel use & 4 rentable storage units.

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THE PLACELocation, Location, Location!

• 75 Feet of Waterfront!

• Fully renovated interior & exterior! Total investment of $850,000!

• All residences feature:

• New Impact Windows

• New Stainless-Steel Appliances

• New Flooring

• New Quartz Countertops

• New A/C Units

• New Plumbing

• New Electrical

• New Mechanical

• New Roof

• New Security Gates

• New Fire Alarm System

• New Laundry Facilities

• 40 Year Certification Complete!

• RARE OPPORTUNITY -> 4-units licensed for short-term/hotel use!

• Additional Income Opportunity – 4 Rentable Storage Units

• Best time to invest in North Beach –$90M in public projects committed thru

2019!

• Location! Location! Location!

• Walkable to the beach, 36-acre North Beach Oceanside Park & soon-to-be Altos

Del Mar Park!

• Only 1 mile to the new North Beach Town Center with approximately $80M spent

on land development already! Breaks ground Q4 2019!

• Easy access to great schools, shops and restaurants!

• Free trolley and plentiful bike lanes make transportation easy and affordable!

WHY OCEAN BAY?

UNITS 20

FLOORS2

YEARBUILT 1946

SQUARE FOOTAGE 10,416

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75 FEET OF WATERFRONT

WITH COURTYARDS AND

PICNIC TABLES

STORAGE & ON-SITE

LAUNDRY!

STRONG RENTALDEMAND!

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ALL IMPACT WINDOWS!

OPEN FLOOR PLANS!

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OPEN SHELVING &

DOUBLE SINKS

RENOVATED KITCHENS

& BATHS!

QUARTZ COUNTERTOPS

AND STAINLESS-STEEL

APPLIANCES

SUBWAY TILES

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WELCOMING, COLORFUL

FRONT DOORS

TRENDY ROLLING BARN

DOORS

LARGE ADJUSTABLE

CLOSETS

BEAUTIFUL FLOORING!

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10 CHARM

COMMUNITY

CONVENIENCE

With easy access to the bay, invest in a boat dock to increase revenues. This unique offering will

keep long-term tenants and attract higher rents overall. Small investment – big payoff!

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ADD - VALUEHere in the Venice of South Florida, everyone needs a place to park their boat.

POTENTIAL IMPROVEMENTS

UNIT TYPE RENT MARKET

1 STUDIO $1,350 $1,391

2 SHORT TERM $1,500 $1,545

3 STUDIO $1,325 $1,365

4 STUDIO $1,235 $1,272

5 STUDIO $1,275 $1,313

6 STUDIO $1,300 $1,339

7 STUDIO $1,300 $1,339

8 STUDIO $1,325 $1,365

9 STUDIO $1,225 $1,262

10 SHORT TERM $1,500 $1,545

11 SHORT TERM $1,500 $1,545

12 1BD/2BA $1,580 $1,627

13 STUDIO $1,300 $1,339

14 STUDIO $1,300 $1,339

15 STUDIO $1,325 $1,365

16 STUDIO $1,325 $1,365

17 STUDIO $1,250 $1,288

18 STUDIO $1,325 $1,365

19 STUDIO $1,325 $1,365

20 SHORT TERM $1,500 $1,545

Storage Units x4 $30 $190

Total $27,095 $28,067

Rent Increase to

Market Rates

3.6%

**INFORMATION IS BELIEVED ACCURATE BUT IS NOT WARRANTED**

UNIT MIX

1BD/2BA: 1

STUDIO: 15

SHORT TERM:4

TOTAL: 20

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UNIT MIX &RENT ROLL

FINANCIAL SUMMARY

NET INCOME CURRENT MARKET

ANNUAL GROSS

RENT$324,420 $336,057

TOTAL EXPENSES $92,987 $92,987

NOI $231,443 $243,070

LIST PRICE $3,950,000 $3,950,000

CAP 5.86% 6.15%

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COMPARABLE SALES

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ADDRESS # OF UNITS SALES PRICE STATUS PRICE/SQ.FT

8260 BYRON AVENUE

20 $3,950,000 ACTIVE $379.22

8215-8221 HARDING AVENUE

30 $5,500,000 ACTIVE $436.92

8210-8220 BYRON

AVENUE24 $4,500,000 ACTIVE $417.25

924 MARSEILLE DRIVE

18 $4,750,000 ACTIVE $434.50

650 72ND

STREET 15 $4,800,000 SOLD $447.89

610 74TH STREET

16 $3,137,500 SOLD $363.39

7125 CARLYLE AVENUE

12 $2,800,000 SOLD $523.76

This northern stretch of Miami

Beach is the lastunderdeveloped

section of the city and it is

surrounded by the most well-

established and thriving

economic engines

of South Florida.

NORTH BEACH

Several incredible

local schools,

restaurants and

parks giveresidents

an idylliclife.”

Current private and public investment growth in North Beach

and a shrinking housing supply create the best time for

investment NOW! These investments drive the economy creating

more employment opportunity and increasing the tax base for

more investments in the local community thus, creating a richer

quality of life for all North Beach residents and a higher demand

for housing. Nestled at the core of the most established and

fastest growing neighborhoods in America, North Beach is

attracting a more upscale demographic in line with the

surrounding neighborhoods.

Several incredible local schools, churches restaurants and

parks give residents an idyllic life. The free trolley and plentiful

bike lanes make transportation easy and affordable. Residents

bursting with pride for North Beach give back to their

neighborhood with beach clean-ups, enjoy the weekly Normandy

Village Farmer’s Market and attend regular events at the North

Beach Bandshell Amphitheater! North Beach is poised to become

the epicenter of growth in Miami Beach for the next 20 years

with $90M in public projects already committed thru 2019 and an

additional $64M coming over next 10 years.

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NORTH BEACH ZONING

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WHY NORTH BEACH?

North Beach Rental and Sales Market Statistics

• ZERO new entry level rentals are forecasted in the North Beach Market• Entire Miami Market Vacancy Rate: 5.7% vs. North Beach Submarket Vacancy Rate:

3.8%

• 96% Occupancy Rate!

• Q1 2019–Studio Apt Rent Avg = $1,174/month

• Q1 2019-1 Bedroom Apt Rent Avg = $1,315/month

• Q1 2019-2 Bedroom Apt Rent Avg = $1,676/month

• 2018 Avg Multi Family Sale Price/Sq.Ft. in North Beach was 25% less than South

Beach!

• 2018 Avg Price of Single-Family Home Sales = $2.7M

• 2018 Avg Price of Condo Sales = $523,000

North Beach Location & Public InvestmentStatistics

• North Beach public projects planned/completed over last 6

years totaling $54M!

• 2019-2030 G.O.Bond plan has allocated almost $134M to

North Beach!

• 3% population growth forecasted through 2024 in North

Beach!

• High Walkability Score:76!

• 3.3 miles to the key tourist destination, South Beach

• 1 mile to prestigious Bal Harbour

• 11.4miles to Downtown, Miami

• 13.6 miles to Miami International Airport

*Data from MLS, Costar: May 2019, U.S. Census Bureau, and City of Miami Beach*

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NORTH BEACH PUBLIC FUTURE INVESTMENTS

Two. More Mobility Options – Safe,

comfortable, interesting, and beautiful

streets with wider sidewalks, world-class

bike infrastructure, shade trees for

sidewalks, better lighting, and buried or

relocatedoverheadutilities.

Three. Protect & Enhance Neighborhoods

– Preservation is the soundest long-term

economic development strategy. New

construction should occur in vacant or

underutilized spaces and complement the

existing buildings.

The Miami Beach City Commission

unanimously approved a master plan for the

city’s North Beach neighborhood, which

stretches from 63rd Street to 87th Street.

Five. Improve Protection – Improving its

ability todealwithsea levelriseand

climatechangeby upgrading all

infrastructure to new standards.

PLAN NOBESTATS

108 NEWPEDESTRIAN

CROSSINGS

6.41MILES OF NEW BIKEWAYS

7 MILES OF NEW TRANSIT

LANES

3.7 FEET OFSTREET RISING

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One. Make A Town Center – Vibrant, dynamic,

compact, pedestrian –friendly and with a mix of

uses to ensure a pedestrian experience that is

welcomingand interesting

Four.Maximize Public Lands Utility and utilize

its properties to support the surrounding

community and attract new investment

The plan developed by planners Dover Kohl,

offers a set of 5 Big Ideas proposed to

encourage the growth of the North Beach

Community. These five consensus ideas

provided an outline for Plan NoBe

AREA PUBLICDEVELOPMENTS

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ADDRESS / NAME OF PROPERTY

DETAILS

OCEAN TERRACE

Early discussion stages: Repurposing beach front

property for pedestrian friendly walkways, public plaza, shade

structures, dinning terraces volleyball courts, etc.

ALTOS DEL MAR PARK

Under construction: Approx. $5 Million investment into 76th

Street & Collins Avenue. A 5-acre ocean front park,

restrooms, volleyball courts, and an open field overlooking

the ocean.

NORTH BEACH OCEANSIDE PARK

2019 – 2020 - $10.66 Million of improvements. 79th Street to 87th Street. New pathways,

lighting, entry gates, and the completion of the existing

beach walk.

RUE VENDOME PLAZA

2019 – 2020 – Open Plaza, activation and programming,

pedestrian friendly, shade trees and lighting.

72ND STREET LOT

2019 -2022 - $53.8 Million investment in the approval

stages: Park, Library & Aquatic Center. Converts parking lot

into mixed use new recreational park space,

rooftop competition pool, library & media center, fitness

gym with running track, & parking garage.

AREA RESIDENTIAL

AND MIXED-USE DEVELOPMENTS

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PROPERTY UNITS SQ. FT. FLOORS STAGEMORE

DETAILS

8421 – 8427 CRESPI BLVD:“Nobe Marina”

16 15,813 5 COMPLETEDNew construction. Luxury residential.

7925 – 7935CRESPI BLVD:“NOBE ISLAND”

14 14,335 4 APPROVEDNew construction. Luxury residential.

8701 COLLINSAVENUE: “EIGHT SEVEN PARK”

64 202,173 20UNDER

CONSTRUCTION –FINAL STAGES

New construction. Luxury residential.

6800INDIAN CREEK:“MONACO YACHT CLUB”

30 95,420 12APPROVED New construction.

Luxury residential.

756 84TH STREET: “THE EIGHTY 4”

4 7,029 5APPROVED New construction.

Luxury residential.

68TH & COLLINS:“L’ATELIER’

23 40,250 18COMPLETED New construction.

Luxury residential.

7400 OCEAN TERRACE

136 202,521 22APPROVED

Entire city block: 202,521 total sq. ft of unified site. Includes 78 hotel units in 16 story hotel tower & 58

residential units in 22 story tower. Retail &

restaurant space as well.

7140 COLLINS AVENUE

211 174,200 11APPROVED 187 hotel rooms,

24 residential units, 28,000sq ft. of retail

“With a combined team experience and

commitment to North Beach ofover 200

years…”ABOUT US

Urban Resource is the premier

expert for North Beach real

estate! Brother-sister founders,

Daniel and Laura Veitia, who live

and work in North Beach can

provide you with real estate

knowledge as a resident, investor,

and business owner in the area.

Dedicated to their customer and

supporting the growth of the

neighborhood, Urban Resource’s

team of highly trained and

licensed real estate professionals

are reliable andresponsive.

Additionally, as the largest

property management company

in North Beach with 100+

buildings under management,

Urban Resource’s success and

reputation are the direct result

of the relationships built with

their owners, residents and

local North Beach community.

A hands-on approach and

honest assessments exceed

customer expectations by

adding value at every step.

CONTACTINFORMATION

LAURA VEITIA

BROKER & VICE PRESIDENT

305.403.8686

realestate@urbanresource.com

www.urbanresource.com