Castle Beach Club (39 Units) — Sale in Miami Beach, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Miami Beach, FL 33140

Investment Figures

Cap rate
12.80%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is proud to present Castle Beach Club, a premier oceanfront condominium located at 5445 Collins Avenue in Miami Beach, offered at $15,200,000 for the acquisition of 39 individual units, totaling approximately 16,680 square feet. These units, ranging from studios to spacious penthouses, offer a unique opportunity in one of Miami Beach’s most desirable neighborhoods. Built in 1966, the property is equipped with resort-style amenities, including direct beach access, a pool, ?tness center, tennis courts, and a spa, catering to both long-term residents and short-term vacation rentals. Situated on the prestigious Millionaire’s Row, Castle Beach Club boasts direct oceanfront access and is just minutes from South Beach, Bal Harbour, and key cultural destinations. Its strategic positioning ensures steady demand, combining residential living with a resort-style experience in one of Miami's most sought-after neighborhoods. The property’s ?exible rental model and diverse unit offerings create a prime environment for long-term growth and income generation. This investment offers a unique opportunity to gain control of the condominium's strategic direction through a bulk acquisition of 50% to 65% of the units. Investors can secure decisive in?uence over the management and operations, with the ability to amend by laws and implement a professional hotel management model. This acquisition strategy positions Castle Beach Club for future repositioning and potential condo buyout, maximizing returns through short-term rental operations and long-term value creation. Investment Highlights: • 39 Unit Condominium Portfolio • Rare direct oceanfront location with views and immediate beach access • Resort-style amenities: oceanfront pool, fitness, tennis, spa, dining • Daily rentals allowed; strong income potential from short-term demand • Mid-Beach/Millionaire's Row near South Beach, Lincoln Road, Bal Harbour • Prime location, diverse units, flexible rentals support growth

Market Context

This multifamily in Miami Beach, FL is listed for sale. It is offered at an approximate 12.8% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 99 days. Compare it against other multifamily listings for sale in Miami Beach, FL — view the full market.

As of Q4 2025, the Miami multifamily market showed a 6.4% vacancy rate, and cap rates around 6.3%. Source: multiple brokerage reports, Q4 2025.

Its 12.8% asking cap rate is above the Miami multifamily market average of about 6.3%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Miami?
About 6.3% as of Q4 2025, per multiple brokerage reports.
Is the Miami multifamily market tightening or softening?
Vacancy is around 6.4% (Q4 2025).

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