1420 16 St Miami Beach, FL 33139
- Small apartment buildings
Current Use by Public Records
- Small apartment buildings
Property Details for 1420 16 St
- Year built
- 1955
- Property type
- Small apartment buildings
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami Beach
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.1441011
- Latitude
- 25.788742
