Rare Opportunity to secure a two-folio multi-family assembly in Bay Drive one of the most desirable area of Miami Beach.​

The offering includes 18 Units

​Six 2 Bedroom / 2 Baths (RARE)
​Twelve 1 Bedroom / 1 Bath
All units are HUGE mid-century floor plans with open living areas and plenty of closets.​

Several units have two access doors, perfect for two person living spaces.​

Units are approximately 750 SF to 1,050 SF, several with hardwood floors and original design features.​

All rents are below market rates and offer an investor revenue growth opportunity given units sizes and location.​

The lots are also ideal for development of approximately 20 townhouses (subject to Miami Beach zoning guidelines).​ Alternatively, the apartments can be modernized with repositioning the existing units to current lower luxury apartments.​

Market demand in each approach will provide the Buyer a fantastic capital and income growth.​

Located steps from the King Cole, the location on Bay Drive neighborhood, featuring culdesacs that provide low traffic and a private community feel.​

The property is walking distance from Normandy Circle.​ the North Beach Business District, and the beaches

The City of Miami Beach has a allocated monies for the redevelopment of North Beach Neighborhoods, which only enhances property values for the area.​

Investment in these properties will provide capital growth opportunity and a secure vehicle for income growth.​

This property has not been available in over 50 years, so this is the time to buy these amazing apartment buildings.​

Highlights

• ​Large Units make for an aggressive $/SF acquisition cost
• ​Price per unit is below market average, priced to sell
• ​Reposition the property and enjoy much higher market rents. There is 0% Vacancy for these apartments and low vacancy in the neighborhood
• Developer Buyers may have the opportunity to build new apartment building or townhouses, subject to City of Miami Beach approvals

There is NOTHING like this in the market!

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