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$ 2,059,000
Est. payment | /mo
4,640 SqFt
$ 2,059,000
Est. payment | /mo
4,640 SqFt
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,640 sqft
Price per Sqft $443
MLS Listing ID A12056231
HOA Y/N No
Year Built 1939
Lot Size 5,500 Sqft
Property Sub-Type Multi Family
Property Description
A premier, income-generating multifamily asset in a highly coveted Miami Beach location. This standalone building features 8 stabilized units (4 studios and 4 one-bedrooms) producing a strong gross income of $164,400 per year against lean operating expenses of $40,777, resulting in a predictable Net Operating Income (NOI) of $123,623.The Ultimate Upside: Short-Term Rental Zoning. While currently fully occupied on steady one-year leases, the true alpha of this property lies in its zoning flexibility. The asset sits in a rare Miami Beach district that explicitly permits short-term rentals (STR). This allows a new owner to seamlessly pivot the asset into a high-yield vacation rental or flexible-stay model, exponentially increasing the gross revenue and cap rate.
Location
State FL
County Miami-dade
Area 32
Zoning 3900
Interior
Heating Window Unit, Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Hardwood, Wood
Window Features Impact Glass
Exterior
Roof Type Slate
Private Pool Yes
Building
Sewer Public Sewer
Water Public
Structure Type Block
Others
Tax ID 02-32-02-007-0490
Security Features Fenced,Security Gate
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://youtu.be/A4yRKAhuBHQ
Listed by Elite Ocean View Realty LLC
NEARBY SCHOOL & BUSINESS
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