1975 Calais DrMiami Beach, FL 33141

This exceptional investment opportunity presents a meticulously renovated, ten-unit townhome complex in the coveted Miami Beach area, boasting direct access to the Intercostal Waterway. Completed in 2013 and extensively renovated in 2024, this two-building, three-story property offers 32,532 square feet of space, with 21,166 square feet of net rentable area. The property sits on a 17,640 square foot lot, offering ample space and a desirable land value of $1,003 per square foot. Each of the ten units includes twenty parking spaces. Currently 100% vacant, the property is poised for immediate occupancy, with a projected occupancy date of December 31, 2024. The property features new flooring, bathrooms, kitchen cabinets, and appliances throughout. The current NOI is $799,398, resulting in a 4.52% cap rate. The asking price is $17,700,000, or $1,770,000 per unit. Construction of eight boat slips is currently underway, adding significant value to this already impressive waterfront property. Seller financing is available.