About This Property

Unique investment opportunity to acquire a fully renovated, turnkey 8-unit apartment building situated on a generous 12,516 SF lot just half a block from Biscayne Bay in Miami's highly desirable Shorecrest neighborhood. Recently renovated in 2023, the property features a beautifully landscaped courtyard, on-site laundry facilities, and 9 dedicated parking spaces—an exceptional amenity for the area. The unit mix and upgrades position the asset for immediate income generation with strong rental upside. The property is zoned T-5-R, offering significant long-term redevelopment potential. Investors have the option to reimagine the site into a boutique 5-story hotel, condominium, or expanded multifamily project, potentially capturing bay views and maximizing density. Alternatively, this is an ideal long-term hold in a rapidly appreciating submarket, with increasing rental demand driven by proximity to Biscayne Bay, MiMo District, and ongoing neighborhood revitalization. Also nearby include waterfronts, parks, boutiques, restaurants, and key commuter routes with a short drive to I-95. With full occupancy and strong tenant retention, this property combines dependable cash flow with future growth potential in one of Miami's most dynamic submarkets. Prime location East of Biscayne Boulevard and half a block to Biscayne Bay, places it West of North Bay Village, North Beach & Nearby Surfside, 20 Min Drive to the Beach and positioned North West of Miami Beach/South Beach.

Key Features

• 12,516 SquareFeet Lot
• Built in 1956

Property Details

• Type: Single Family Home
• Year Built: 1956
• Lot Size: 12,516 sq ft
• Sq Ft: 4,600
• Price / Sq Ft: $516
• HOA: Contact Agent
• Bedrooms: 0
• Bathrooms: 0
• Feature: 12,516 SquareFeet Lot
• Feature: Built in 1956
• Status: Active
• MLS Number: 1158101708
• Days on Market: 161
• Listed By: LoKation · Steven M. Grossman, PA
• Zip Code: 33138