For Sale
$1,699,000

2115 Bay DrMiami Beach, FL 33141

Miami Beach multifamily, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
115
Exceptional investment opportunity: a fourplex in Miami Beach's desirable Normandy Isles. This 2-story, 2,767 sq ft building, constructed in 1940, sits on a generous 5,280 sq ft lot. All four units boast two bedrooms and one bathroom. Recent upgrades include a new roof (November 2016), high-impact windows (December 2022), and exterior stucco and premium Benjamin Moore paint (April 2023). The property also features central AC in one unit (installed June 2019) and split AC units in the remaining three (installed between 2021 and 2023). Tankless water heaters and gas stoves are present throughout. Three of the four units include washer/dryer combos. The building underwent termite tenting in September 2019 and a 40-year recertification. Two units are currently owner-occupied, while the other two are rented significantly below market value, presenting immediate upside potential for rental income. This property offers a compelling combination of strong cash flow and significant appreciation potential in a prime Miami Beach location. Asking price: $1,699,000.

Highlights

  • Exceptional investment opportunity: a fourplex in Miami Beach's Normandy Isles.
  • 2-story, 2,767 sq ft building on a 5,280 sq ft lot, built in 1940.
  • Four 2 bed/1 bath units.
  • Recent upgrades include a new roof (2016), high-impact windows (2022), exterior stucco & paint (2023).
  • Central & split AC units, tankless water heaters, and gas stoves.
  • Three units have washer/dryer combos.

Property Details for 2115 Bay Dr

Property type
Apartment buildings, Small apartment buildings
Square Feet
2,767 SF
Year Built
1940
Stories
2

Location Insight

City
Miami Beach
County
Miami-Dade
State
Florida
Latitude
25.851666
Longitude
-80.1435854
2115 Bay Dr, Miami Beach, Florida

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2115 Bay Dr
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