Property
| Ownership: | For Sale |
|---|---|
| Type: | Multi-Family |
| Lot Size: | 0.1 Acres |
Financials
Price:$2,059,000
Listing Courtesy of Elite Ocean View Realty LLC
A premier, income generating multifamily asset in a highly coveted Miami Beach location.
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.
Virtual Tour: https://www.propertypanorama.com/instaview/mia/A12056231
Amenities
- Exterior Lighting
- Security Fence
- Security Gate
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
