1420 16Th StMiami Beach, FL 33139

Property Details for 1420 16Th St

Year built

1955

Property type

Apartment buildings

Property subtype

Small apartment buildings

Description

This exceptional four-unit apartment building presents a lucrative investment opportunity in the highly sought-after South Beach neighborhood of Miami Beach, Florida. Located on a tranquil street, this two-story, 1955-built property enjoys a prime location just steps from the bay and the vibrant Lincoln Road. The building comprises two 2-bedroom, 2-bathroom units and two 2-bedroom, 1-bathroom units, all boasting either a private balcony or porch. Four parking spaces are available for residents. Currently fully rented with long-term tenants, this property offers immediate income generation. The building is well-maintained and features hurricane-resistant doors and windows, upgraded electrical systems, energy-efficient water heaters, and new PVC piping for water and sewer. No immediate repairs are needed. Units are larger than indicated on the tax roll. Zoned RM-2, the property allows for short-term rentals, presenting the potential for significant additional income through platforms like Airbnb, with the appropriate licensing. The asking price is $2,900,000. Financial details are available upon request with proof of funds and execution of a non-disclosure agreement. Do not disturb tenants.

Location Insight

City

Miami Beach

County

Miami-Dade

State

Florida

Latitude

25.7887

Longitude

-80.1441

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