The Porosoff Group at Compass Commercial is pleased to present 2150 Park Avenue, a licensed short-term property consisting of 20 fully furnished 1-bedroom units in South Beach, strategically located near the newly renovated Miami Beach Convention Center. The property is situated in the heart of South Beach and is within close proximity to the Atlantic Ocean, Lincoln Road, and the historic Art-Deco District.
2150 Park Avenue was originally built in 1947 and underwent a full gut rehabilitation in 2020, which included new plumbing, electrical, structural, HVAC, roofing, kitchens, bathrooms, and flooring. The property has a rentable square-footage of 8,864 square feet and sits on a 7,500 square-foot lot consisting of a single two-story building. Additionally, the property is zoned RM-2, giving potential investors the opportunity to add additional square footage to the site.
2150 Park Avenue offers an investor the opportunity to purchase a fully renovated property in one of the strongest short-term rental markets in the country. This coupled with high occupancy and rates driven by limited short-term rental inventory makes this an investment that will only appreciate over time as the capital migration to South Florida accelerates. New ownership can also choose to continue partnering with Jurny under a management agreement or can take over full management and enhance
the asset and move up to a more luxurious tier. Additionally, new ownership could potentially convert the building into condos, rent them out as luxurious furnished rentals, or can create a condo-hotel product.
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