842 84 StMiami Beach, FL 33141

Property Details for 842 84 St

Year built

1954

Property type

Commercial real estate

Description

This exceptional multifamily property at 842 84th Street, Miami Beach, Florida, presents a unique investment opportunity. Built in 1954, the existing structure comprises eight rental units, currently generating income in the desirable Biscayne Point neighborhood. The strong rental market in this area ensures a consistent cash flow for investors seeking immediate returns. However, the property's true potential lies in its redevelopment possibilities. Located in a prime Miami Beach location, just minutes from the beach, the site allows for the construction of a new five-story building. This redevelopment project could yield ten spacious units, totaling 14,831 square feet of buildable area. This offers significant upside potential for investors looking to capitalize on the high demand for residential properties in this sought-after area of Miami Beach. The asking price for this versatile property is $2,250,000. This presents a rare chance to acquire a property with both immediate income generation and substantial long-term growth potential in one of Miami Beach's most coveted neighborhoods. The property is situated in Miami-Dade County, Florida, with a zip code of 33141.

Location Insight

City

Miami Beach

County

Miami-Dade

State

Florida

Latitude

25.8687

Longitude

-80.1285

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