About This Property

Excellent opportunity to acquire a 14-unit multifamily investment property in the heart of South Beach, Miami Beach. The property consists of 12 studio apartments and 2 one-bedroom units, generating an actual annual Net Operating Income (NOI) of $98,200, with Potential Gross Income (PGI) of $163,000.The property offers compelling value-add potential through interior renovations and unit reconfigurations. Notably, 10 of the 12 studios feature spacious "junior one-bedroom" layouts, presenting an opportunity to potentially convert these units into true one-bedroom apartments, subject to applicable building requirements and approvals. Combined with strategic interior improvements, these enhancements offer an opportunity to increase rental revenue, strengthen operating performance, and enhance long-term asset value.Ideally located in a highly walkable South Beach neighborhood, residents enjoy convenient access to grocery stores, dining, public transportation, local employment centers, and Flamingo Park, with the world-famous beaches of Miami Beach just a short distance away.This property presents an attractive opportunity for investors seeking an established income-producing multifamily asset with additional upside potential in one of South Florida's most desirable coastal rental markets.

Key Features

• 7,000 sq ft Lot
• Built in 1939

Property Details

• Type: Single Family Home
• Year Built: 1939
• Lot Size: 7,000 sq ft
• HOA: Contact Agent
• Bedrooms: 0
• Bathrooms: 0
• Feature: 7,000 sq ft Lot
• Feature: Built in 1939
• Status: Active
• MLS Number: 1193816531
• Days on Market: 1
• Listed By: Cardenas Larocca Real Estate LLC · Carlos Larocca
• Zip Code: 33139