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$2,400,000
Est. payment /mo
4,148 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,148 sqft
Price per Sqft $578
MLS Listing ID A11947334
HOA Y/N No
Year Built 1950
Annual Tax Amount $29,566
Lot Size 5,250 Sqft
Property Sub-Type Multi Family
Property Description
1610 Bay Rd, a 4-unit apartment building currently operating as a short-term rental. Located in the heart of South Beach's vibrant waterfront corridor, 1610 Bay Rd is well positioned within one of Miami Beach's most sought after sub-markets.
Bay Rd runs parallel to the western-point of South Beach, positioning the asset steps away from Biscayne Bay, Lincoln Road, and Sunset Harbor. Built in 1950, the property sits on a lot approximately 0.12 acres zoned medium intensity RM-2. All four units currently operate as short-term rentals and consist of fully-furnished 2 bedroom & 1 bath apartments with on-site laundry for guests. A future investor would receive a turnkey short-term rental asset within Miami's leading destination for tourism.
Additionally, 1610 Bay Rd's attractive unit size and premier location offers a strong rental market as a traditional multi-family asset. With comparable rates in the area ranging from $3.50-$4.00 per Sq Ft, an investor has the unique opportunity to continue operations as a short-term rental, combine long-term and short-term use, or fully convert the property into long-term apartments.
Bay Rd runs parallel to the western-point of South Beach, positioning the asset steps away from Biscayne Bay, Lincoln Road, and Sunset Harbor. Built in 1950, the property sits on a lot approximately 0.12 acres zoned medium intensity RM-2. All four units currently operate as short-term rentals and consist of fully-furnished 2 bedroom & 1 bath apartments with on-site laundry for guests. A future investor would receive a turnkey short-term rental asset within Miami's leading destination for tourism.
Additionally, 1610 Bay Rd's attractive unit size and premier location offers a strong rental market as a traditional multi-family asset. With comparable rates in the area ranging from $3.50-$4.00 per Sq Ft, an investor has the unique opportunity to continue operations as a short-term rental, combine long-term and short-term use, or fully convert the property into long-term apartments.
Location
State FL
County Miami-dade
Area 32
Exterior
Private Pool Yes
Others
Tax ID 02-32-33-008-0120
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11947334
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Listed by Landy Toledo LLC
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