7124 BAY DR, Miami Beach
$2,190,000 USD
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| Address | 7124 BAY DR, Miami Beach |
| Building Name | 7124 BAY DRIVE |
| Type of Property | Income / MultiFamily |
| Type of Business | Apartments, Residential-Multi-Family |
| Property Style | Income Non-Waterfront |
| Price | $2,190,000 |
| Previous Price | $2,290,000 (13 days ago) |
| Property Status | Active |
| MLS Number | A11924424 |
| Property Size | 5250 |
| Lot Size | 5250 |
| Year Built | 1940 |
| Folio Number | 02-32-10-013-0320 |
| Gross Operating Income | $150,900 |
| Net Operating Income | $100,000 |
| Zoning Information | 4800 |
| Days on Market | 100 |
Detailed Description: Exceptional Turnkey Investment Opportunity in Miami Beach Fully leased 8-unit multifamily property offering strong income and long-term upside. The building comprises 4 studios and 4 1BD / 1BA units, all well-maintained. Property highlights include: impact windows throughout, split A / C units in every apartment, full kitchens and updated bathrooms, and upgraded electrical and plumbing systems. Succesffully Completed 40-years certification. The property offers a compelling opportunity to optimize future rent in one of Miami Beach’s most sought-after neighborhoods. Highly desirable Normandy Isles neighborhood, minutes to the beach, public transportation, shops, restaurants, and major Miami destinations. High rental demand and low vacancy area. The neighborhood is transitioning from a somewhat quiet into a vibrant, upscale, and highly desirable upcoming luxury community
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Address Information
| State | Florida |
| City | Miami Beach |
| County | Miami-Dade County |
| Zip Code | 33141 |
| Address | 7124 BAY DR |
| Section | 10 |
| Zip Code (4 Digits) | 5453 |
Financial Information
| Price | $2,190,000 |
| Price per Foot | $0 |
| Previous Price | $2,290,000 |
| Folio Number | 02-32-10-013-0320 |
| Gross Operating Income | $150,900 |
| Net Operating Income | $100,000 |
| Tax Amount | $28,380 |
| Tax Year | 2024 |
| Possession Information | Funding |
| Lender Approval | Approved |
Full Descriptions
| Detailed Description | Exceptional Turnkey Investment Opportunity in Miami Beach Fully leased 8-unit multifamily property offering strong income and long-term upside. The building comprises 4 studios and 4 1BD / 1BA units, all well-maintained. Property highlights include: impact windows throughout, split A / C units in every apartment, full kitchens and updated bathrooms, and upgraded electrical and plumbing systems. Succesffully Completed 40-years certification. The property offers a compelling opportunity to optimize future rent in one of Miami Beach’s most sought-after neighborhoods. Highly desirable Normandy Isles neighborhood, minutes to the beach, public transportation, shops, restaurants, and major Miami destinations. High rental demand and low vacancy area. The neighborhood is transitioning from a somewhat quiet into a vibrant, upscale, and highly desirable upcoming luxury community |
| Year Built Description | Resale |
| Roof Description | Tile Roof |
| Floor Description | Other, Tile, Wood |
| Cooling Description | Other |
| Heating Description | Other |
| Water Description | Public |
| Sewer Description | Other |
Property parameters
| Living Area | 5250 |
| Lot Size | 5250 |
| Total Acreage | 0.000 |
| Zoning Information | 4800 |
| Maximum Leasable Size | 5250 |
| Year Built | 1940 |
| Type of Property | Income / MultiFamily |
| Type of Business | Apartments, Residential-Multi-Family |
| Style | Income Non-Waterfront |
| Building Name | 7124 BAY DRIVE |
| Construction Type | CBS Construction |
| Stories Number | 2 |
| Listed with | One Sotheby’s International Realty |