For Sale
$1,600,000

602 1St AveMiami, FL 33132

Luxury Miami condos, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents two fully furnished, one-bedroom Airbnb condos in a prime Miami location. The 1,242 square foot portfolio boasts a strong financial performance, generating approximately $193,696 in net operating income (NOI) annually, representing a 12.11% capitalization rate. Each unit is individually priced at $800,000, with the entire portfolio listed at $1,600,000. The property is ideally situated near the Miami Heat Arena and the Miami Cruise Port, maximizing short-term rental potential. Licensed for Airbnb and other short-term rental platforms, these units are turnkey and ready for immediate income generation. The building itself is a 51-story landmark designed by Arquitectonica, offering residents and guests a range of amenities including a double-height lobby, 24-hour valet parking, secure access, high-speed internet, and multiple floors dedicated to amenities such as a wellness center, culinary spaces, a conference center, and a pool. The building also features on-site hospitality management and ground-level retail. This property offers a unique blend of luxury living and high-yield investment potential in the heart of Miami, with convenient access to public transportation. The building's prime downtown location near Miami World Center provides easy access to various attractions, including beaches, marinas, and cultural experiences. This is a move-in ready opportunity with high rental income from holiday rentals and year-round occupancy potential.

Property Details for 602 1St Ave

Property type
Residential income homes
Square Feet
1,242 SF
Class
A
Units
2

Location Insight

City
Miami
County
Miami-Dade
State
Florida
Latitude
25.7802654
Longitude
-80.192407
602 1St Ave, Miami, Florida

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602 1St Ave
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