About This Property

420 78th St is a 23-unit multifamily property located in the heart of North Beach, just steps from the ocean. The asset consists of 22 studio units and one 1-bedroom/1-bath unit within a 7,821 SF, three-story building, currently generating approximately $408,000 in gross income. The property is fully occupied, offering strong in-place cash flow with additional upside through future rent growth, making it an attractive investment opportunity in a high-demand rental market. Positioned in a prime beachside location, the property benefits from consistent tenant demand and is just minutes from major employment hubs, retail, and dining, as well as Downtown Miami. The offering also includes a highly attractive assumable loan through CBRE with an approximate $1.7M balance at a 3.18% interest rate, providing a significant financing advantage for a new owner.

Key Features

• 5,650 sq ft Lot
• Built in 1940

Property Details

• Type: Single Family Home
• Year Built: 1940
• Lot Size: 5,650 sq ft
• HOA: Contact Agent
• Bedrooms: 0
• Bathrooms: 0
• Feature: 5,650 sq ft Lot
• Feature: Built in 1940
• Status: Active
• MLS Number: 1158552775
• Days on Market: 156
• Listed By: Fausto Commercial Realty Consultants Inc · Elior Levi
• Zip Code: 33141