One Sotheby's International Realty
One Sotheby's International Realty
Listed by One Sotheby’s International Realty, One Sotheby's International Realty
$2,140,000
7124 Bay Drive Miami Beach
Details
APN 02-32-10-013-0320
Property Type Multifamily, Land
Sub Type Apartment Building
Square Footage 4,732
Net Rentable (SqFt) 4,732
Units 8
Cap Rate 7.05%
NOI $150,900
Occupancy 100%
Pro-Forma Cap Rate 7.85%
Pro-Forma NOI $168,000
Price per SqFt $452
Year Built 1940
Year Renovated 2019
Stories 2
Lot Size (SqFt) 5,250
Zoning 4800
Parking Spaces 5,250 spaces
Parking Per SqFt 1,109.47
Investment Type Value Add
8-unit multifamily property fully leased and positioned for long-term appreciation
Marketing description
Exceptional Turnkey Investment Opportunity in Miami Beach Fully leased 8-unit multifamily property offering strong income and long-term upside. The building comprises 4 studios and 4 1BD/1BA units, all well-maintained. Property highlights include: impact windows throughout, split A/C units in every apartment, full kitchens and updated bathrooms, and upgraded electrical and plumbing systems. Succesffully Completed 40-years certification. The property offers a compelling opportunity to optimize future rent in one of Miami Beach’s most sought-after neighborhoods. Highly desirable Normandy Isles neighborhood, minutes to the beach, public transportation, shops, restaurants, and major Miami destinations. High rental demand and low vacancy area.The neighborhood is transitioning from a somewhat quiet into a vibrant, upscale, and highly desirable upcoming luxury community
Investment highlights
Located in a growing, high-demand rental market.
Opportunity to optimize future rent in one of Miami Beach’s most sought-after neighborhoods.
Normandy Isles area at the border of Miami Beach and North Bay Village, offering strong fundamentals and value-add potential.
Potential to increase the rent (Existing Long term tenants).
Listing Contacts
One Sotheby's International Realty
One Sotheby's International Realty
Listed by One Sotheby’s International Realty, One Sotheby's International Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$150,900.00
$12,575.00/mo
Valuation Metrics
0
DSCR
7.05%
Cap Rate
7.05%
ROI
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