7411 Carlyle Avenue

Miami Beach

2019

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THE PERFECT PLACE TO LIVE

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Location, Location, Location!

THE PLACELocated within historic North

Shore neighborhood and walkable to

the beach, Parkview Island Park,

North Shore Park, Ocean Terrace,

this quaint residential boutique 5-

unit building is in a prime location

with ample street parking. The area

is full of excellent schools, places of

worship, local favorite restaurants

and near many conveniences like

Walgreens/CVS and the Post Office.

Recently, the location potential

improved considerably with the

passing of city ordinances for nearby

North Beach Town Center in Nov

2018, making this site perfect for

future redevelopment. In fact, the

lot size is 25% larger than the typical

in the North Shore neighborhood.

Note that this building completed its

40-year Certification in 2016! Long

term residents love this quaint

building and its beautiful

landscaping.

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• Strong rental demand and stable cash flow!

• Proven historical performance!

• Lot size is 25% LARGER than typical lot size in North Shore!

• Greeted with a large welcoming front porch!

• Ample street parking with off street parking in rear!

• Lush Landscaping and Convenient On-Site Laundry!

• Updated kitchens and baths!

• 40 Year Certification Completed in 2016!

• The best time to invest in North Beach!

• Location! Location! Location!

• Walkable to the beach, North Shore Park and soon-to-be North Beach Yard!

• Less than one mile to the new North Beach Town Center!

• Easy access to great schools, shops and restaurants!

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

WHY 7411 CARLYLE

AVENUE?

UNITS 5

FLOORS 1

YEAR BUILT 1946

LIVING AREA 2,688SQ.FT.

LOTSIZE 7,500SQ.FT.

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STRONG RENTALDEMAND!

HUGE FRONT PORCH AND

BEAUTIFUL LANDSCAPING!

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OPEN FLOORPLANS,

UPDATED KITCHENS &

BATHS, BEAUTIFUL

FLOORING

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UNIT MIX &RENT ROLL

UNIT MIX

2BD/1BA: 1

1BD/1BA: 2

Studio: 2

TOTAL: 5

UNIT TYPE RENT MARKET

1 1 -1 $960 $1,300

2 2-1 $1,390 $1,600

3 Studio $950 $1,175

4 Studio $855 $1,175

5 1 – 1 $1,175 $1,250

Total $5,330 $6,500

Rent Increase

to Market

Rates

21.95%

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

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FINANCIAL SUMMARY

NET INCOME CURRENT MARKET

ANNUAL GROSS RENT $63,960 $78,000

TOTAL EXPENSES $21,502 $21,502

LAUNDRY & PARKING

INCOME

$840 $3,480

NOI $43,298 $59,978

LIST PRICE $995,000 $995,000

CAP 4.35% 6.03%

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COMPARABLE SALES

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

7411 CARLYLE

AVENUE

5 $ 995,000 ACTIVE $ 370.16

125 SHORE

DRIVE

4 $ 1,100,000 ACTIVE $ 397.97

7915

CRESPI

BLVD

4 $ 1,500,000 ACTIVE $ 456.07

8201

HARDING

AVENUE

6 $ 1,240,000 SOLD $ 458.58

235 82nd

STREET

2 $ 645,000 SOLD $ 399.13

1198

MARSEILLE

DRIVE

4 $ 1,250,000 SOLD $ 339.40

235 77th

STREET

8 $1,350,000 SOLD $431.17

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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

Current private and public investment growth Several incredible local schools, churchesin North Beach and a shrinking housing supply restaurants and parks give residents an

create the best time forinvestment NOW! idyllic life. The free trolley and plentifulbike

These investments drive the economy cre- lanes make transportation easy and afford-

ating more employment opportunity and in- able. Residents bursting with pride for North

creasing the tax base for more investments Beach give back to their neighborhoodwith

in the local community thus, creating a richer beach clean-ups, enjoy the weekly Normandy

quality of life for all North Beach residents and Village Farmer’s Market and attend regular

higher demand for housing. Nestled at the events at the North Beach Bandshell Amphi- core

of the most established and fastest grow- theater! North Beach is poised to become the ing

neighborhoods in America, North Beach is epicenter of growth in Miami Beach for the attracting

a more upscale demographic in line next 20 years.

with the surroundingneighborhoods.

Several incredible

local schools,

restaurants and

parks giveresidents

an idyllic life.”

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WHY NORTH BEACH?

North BeachRentaland Sales Market Statistics• ZERO new entry level rentals are forecasted in the North Beach Market

• Apartment Occupancy is98%!

• 1 Bedroom Apartment Rent average = $1,752/month

• 2 Bedroom Apartment Rent average = $2,284/month

• 2018 YTD Average Multi Family Sale Price/Sq.Ft. North Beach: $290.39 vs. South Beach $374.69

• 2017 Average Price of Home and Condo Sales $496,626

• 2018 YTD Average Price of Home and Condo Sales $455,129

North Beach PopulationStatistics• 14% of residents are between 25-34 years old and growing

• 33% of household income over $75,000

• 56.2% of population work in Miami Beach

• 3.9% growth in North Beach population forecasted between 2016-2021

• 41.8 – median age for the area.

North Beach LocationStatistics• High Walkability Score:76!

• 5 miles from the key tourist destination, South Beach

• 3.3 miles from prestigious Bal Harbour

• 11.4 miles from Downtown, Miami

• 13.6 miles to Miami International Airport

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NORTH BEACH PUBLIC FUTURE INVESTMENTS

outline for PlanNoBe.

Two. More Mobility Options – Safe, comfort-

able, interesting, and beautiful streets with

wider sidewalks, world-class bike infrastruc-

ture, shade trees for sidewalks, better lighting,

and buried or relocated overheadutilities.

Three. Protect & Enhance Neighborhoods –

Preservation is the soundest long-term eco-

nomic development strategy. New construction

should occur in vacant or underutilized spaces

and complement the existingbuildings.

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.

The plan developed by planners Dover Kohl, Four. Maximize Public Lands Utility –

offers a set of 5 Big Ideas proposed to encour- and utilize its properties to support the sur-

age the growth of the North Beach Commu- rounding community and attract new invest-

nity. These five consensus ideas provided an ment.

Five. Improve Protection – Improving its ability

todealwithsea levelriseandclimatechangeby

One. Make A Town Center – Vibrant, dynamic, upgrading all infrastructure to new

standards. compact, pedestrian-friendly and with mixof

uses to ensure a pedestrian experience that is

welcoming and interesting. PLAN NOBESTATS

108 NEW PEDESTRIAN

CROSSINGS

6.41 MILES OF NEW BIKEWAYS

7 MILES OF NEW TRANSIT

LANES

3.7 FEET OFSTREET RISING

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AREAPUBLIC

DEVELOPMENTSADDRESS/NAME OF PROPERTY DETAILS

OCEAN TERRACE Early discussion stages: Repurposing beach front property for pedestrian friendly walkways, public plaza,shade structures, dining terraces, volleyball courts,etc.

ALTOS DEL MAR PARK Under construction: Approx. $5million investment into 76th Street & Collins Avenue. A 5-acre ocean front park, restrooms, volleyball courts, and an open field overlooking theocean.

NORTH BEACH OCEAN SIDE PARK In Permitting: 79th Street to 87th Street. Newpathways, lighting, entry gates, and the completion of the existing beachwalk.

RUE VENDOME PLAZA In approval stages: Open Plaza, activation and programming, pedestrian Friendly, shade treesand lighting.

72ND STREETLOT Proposed $53.8 million investment in the approval stages: Park, Library and Aquatic Center. Converts parking lot into mixed use new recreational park space, rooftop competition pool,library and media center, fitness gym with running track, and parkinggarage.

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From the creators of the

successful WynwoodYard

comes the most exciting

new venue inMiami.

Located in a highly prized lot on Collins

Avenue and 81st Street across the street from

the beautiful North Shore Open Space Park:

this revolutionary open-air mixed concept will

serve as a catalyst to attract new visitors and

residents to North Beach.

The North Beach Yard is designed to have

the popular blend of restaurant, bar, live music

venue and boutique shop that made

Wynwood Yard a notable attraction in its

neighborhood.

The North Beach

Yard is designed to

have the popular

blend of restaurant,

bar, live musicvenue

and boutiqueshop”

NORTH BEACH PRIVATE FUTURE INVESTMENTS

Details• Low-impact architecture

• 20 food and beverage operators

• Three restaurants in repurposed shippingcontainers

• Organic vegetable and fruit garden with hydroponic& organic farming, rainwater harvesting,composting

and recycling.

•More than 15 market stalls with artisan-inspired

culinary and retailproducts.

•Fitness studio offering exercise and wellness

classes, workshopsand instructional classes.

•The most successful venue in Miami’s Wynwood

neighborhood has chosen to move to North Beach in 2019!

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AREARESIDENTIAL

AND MIXED USEDEVELOPMENTSPROPERTY UNITS SQ.FT. FLOORS STAGE MORE DETAILS

8421-8427

CRESPI

BOULEVARD

16 15,813 5 UNDER

CONSTRUCTION

Newconstruction. Luxuryresidential.

7925-7935

CRESPI

BOULEVARD:

“NOBE ISLAND”

14 14,335 4 PENDING

APPROVAL

Newconstruction. Luxuryresidential.

8701 COLLINS

AVENUE:

“EIGHTY SEVEN

PARK”

64 202,173 20 UNDER

CONSTRUCTION

Newconstruction. Luxuryresidential.

6800

INDIAN CREEK

DRIVE

30 95,420 12 APPROVED Newconstruction. Luxuryresidential.

756 84TH

STREET: “THE

EIGHTY 4”

4 7,029 5 APPROVED Newconstruction. Luxuryresidential.

68TH &

COLLINS:

“L’ATELIER

”

23 40,250 18 UNDER

CONSTRUCTION

Newconstruction. Luxuryresidential.

7400 OCEAN

TERRACE

136 202,521 22 APPROVED 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 and

restaurant space as well.

7140 COLLINS

AVENUE

211 174,200 11 APPROVED 187 hotel rooms,24 residentialunits, 28,000sq. ft. of retail

With a combined team

experience andcommitment

to North Beach ofover

200 years

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 provideyou with

real estate knowledge as a resident, investor,

and business owner in the area.Dedicated

to theircustomer and supporting thegrowth

of theneighborhood, Urban Resource’s team

of highly trained and licensed real estate

professionals are reliable andresponsive.

ABOUT US

Additionally, as the largest property

management company in North Beach with

100+ buildings under management, Urban

Resource’s success andreputation 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.

CONTACT INFORMATION

LAURA VEITIA

BROKER & VICE PRESIDENT

305.403.8686

realestate@urbanresource.com

www.urbanresource.com