Cap Rate 5%
No. Units 6
Building Size 5,544 SF
No. Stories 2
Price per Unit $416,666.67
Year Built 1961
Property Type Multifamily
Lot Size 6,325 SF
Property Sub-type Garden – Low-Rise Apartments
Property Use Type Investment in South Florida
Apartment Investment Property Description
This North Beach Multifamily Investment can easily be converted to Waterfront Short Term Rental Units! This is a terrific turn key Investment property, consisting of Six Condo Units operating as a Miami Beach Multi-Family project. It is a fully renovated property and by Far one of the nicest buildings in the Hot North Beach area, with units featuring: Central air, recess lighting, granite counter-tops, state-of-the-art appliances, marbles showers, expanded closets, impact windows, and much more. It is east of the I-95 and near the exclusive Collins Ave. The Miami Beach area is a great area for development as well as keeping Historical Buildings secure.
The North Beach neighborhood has become a great portion of the city of Miami Beach, Florida. North Beach boundaries have the northernmost section of the city, roughly bound by 63rd Street and Indian Creek Drive to the south and 87th Terrace to the north. This part of Miami Beach has beautiful homes, shopping and various types of fine restaurants. This section of Miami Beach collectively refers to neighborhoods including Isles of Normandy, Biscayne Point, as well as La Gorce.
Rental Unit Mix Information
Description – Two Bedroom Two Bath
No. Units 6
Average Monthly Rent – $2,000
Sq. Ft – 1,000 estimate
Financial Summary (Actual)
Net Operating Income (NOI) $125,000
Listing information courtesy of Fausto Commercial Realty Consultants – Cushman & Wakefield. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, solely to identify potential properties for potential purchase.