About This Property

Byron Avenue Suites represents an exceptional opportunity.The property features 16 fully furnished apartments, including 2 two-bedroom units, 9 one-bedroom units, and 5 studios. Each unit is equipped with a kitchenette (sink, refrigerator, microwave), allowing flexibility for both short-term and extended stays. This diverse unit mix caters to a wide range of travelers, including vacationers, families, and longer-stay guests, supporting consistent occupancy year-round. A key competitive advantage is the property’s grandfathered hotel license. Due to strict zoning and regulatory constraints in Miami Beach, new licenses are extremely limited, creating a strong barrier to entry and protecting long-term asset value. Byron Avenue Suites also benefits from an outstanding guest reputation:The property ranks as the #1 top-reviewed hotel in Miami Beach out of approximately 1,270 hotels. This strong track record supports repeat business, premium pricing, and consistent performance.There is clear upside potential through several strategic initiatives: implementing a direct booking platform to reduce platform fees and capture repeat guests. Additional enhancements, such as on-site laundry and outdoor amenities like a jacuzzi and lounge areas, offer opportunities to further increase revenue and guest satisfaction.

Key Features

• 7,500 sq ft Lot
• Built in 1941

Property Details

• Type: Single Family Home
• Year Built: 1941
• Lot Size: 7,500 sq ft
• HOA: Contact Agent
• Bedrooms: 0
• Bathrooms: 0
• Feature: 7,500 sq ft Lot
• Feature: Built in 1941
• Status: Active
• MLS Number: 1158014435
• Days on Market: 163
• Listed By: Gary Hennes Realtors · Luca Migliore
• Zip Code: 33141