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    1420 16 St Miami Beach, FL 33139

    For Sale
    $2,900,000

    Fourplex near Lincoln Road & Bay

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional four-unit apartment building presents a lucrative investment opportunity in the highly sought-after South Beach neighborhood of Miami Beach, Florida. Located on a tranquil street, this two-story, 1955-built property enjoys a prime location just steps from the bay and the vibrant Lincoln Road. The building comprises two 2-bedroom, 2-bathroom units and two 2-bedroom, 1-bathroom units, all boasting either a private balcony or porch. Four parking spaces are available for residents. Currently fully rented with long-term tenants, this property offers immediate income generation. The building is well-maintained and features hurricane-resistant doors and windows, upgraded electrical systems, energy-efficient water heaters, and new PVC piping for water and sewer. No immediate repairs are needed. Units are larger than indicated on the tax roll. Zoned RM-2, the property allows for short-term rentals, presenting the potential for significant additional income through platforms like Airbnb, with the appropriate licensing. The asking price is $2,900,000. Financial details are available upon request with proof of funds and execution of a non-disclosure agreement. Do not disturb tenants.

    Property Features for 1420 16 St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1955
    Stories
    2
    Units
    4

    HighLights

    • $2,900,000 asking price.
    • Four‑unit multifamily apartment building (duplex/triplex/quadruplex).
    • Located in Miami Beach, FL, at 1420 16th St, 33139.
    • Built in 1955, two stories.
    • Two 2 bed/2 bath units and two 2 bed/1 bath units; four parking spaces.
    • Well‑maintained with hurricane‑impact windows/doors, upgraded electric, efficient water heaters, and new PVC plumbing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Hair Salon Realty agency Nail Salon Food Market Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1441011
    Latitude
    25.788742

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    FAQs

    What type of property is this?
    Multifamily property - Fourplex near Lincoln Road & Bay
    Where is this multifamily property located?
    The property is located at 1420 16 St Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: $2,900,000 asking price.; Four-unit multifamily apartment building (duplex/triplex/quadruplex).; Located in Miami Beach, FL, at 1420 16th St, 33139.
    Request Owner's contact information
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    Miami Beach, FL 33139
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1420 16 St Miami Beach, FL 33139
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