701 82Nd StMiami Beach, FL 33141

Property Details for 701 82Nd St

Year built

1947

Property size (Sq ft)

3,725 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a fully occupied, four-unit apartment building located at 701 82nd Street in the desirable Biscayne Point subdivision of Miami Beach, Florida. The property, built in 1947, boasts a total of 3,725 square feet situated on a 5,650 square foot lot. The building is a two-story concrete block structure with central air conditioning and on-site private parking. Each of the four units offers spacious two-bedroom layouts, contributing to the property's strong occupancy rate of 100%. The current Net Operating Income (NOI) stands at $74,380, representing a price per square foot of $429.53. The asking price for this value-add, core investment is $1,600,000. The property is zoned RM-1, offering potential for future development or renovation. This is a rare opportunity to acquire a well-maintained multifamily property in a prime Miami Beach location with significant upside potential. The strong cash flow and high occupancy make this an attractive investment for both seasoned and new investors seeking a stable and profitable asset in a thriving market.

Location Insight

City

Miami Beach

County

Miami-Dade

State

Florida

Latitude

25.8677

Longitude

-80.1264

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