2115 Bay DrMiami Beach, FL 33141

Property Details for 2115 Bay Dr

Year built

1940

Property size (Sq ft)

2,767 SF

Property type

Apartment buildings

Property subtype

Small apartment buildings

Description

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.

Location Insight

City

Miami Beach

County

Miami-Dade

State

Florida

Latitude

25.8517

Longitude

-80.1436

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