19370 Collins Ave Ph Sunny Is Bch Sunny Isles Beach, FL 33160

Property Details for 19370 Collins Ave Ph Sunny Is Bch

Year built

1972

Property size

13,785 SF

Property type

Residential income homes

Property subtype

Apartment buildings

Description

This exceptional investment opportunity presents a 12-unit, fully furnished short-term rental portfolio located in the highly desirable Sunny Isles Beach, Florida. Situated within a 420-unit building, this Class B property boasts 13,785 square feet of rentable space, offering a compelling 9.98% cap rate and a substantial NOI of $798,000. The portfolio comprises a diverse mix of unit configurations: one 3-bedroom/2-bathroom unit, two 2-bedroom/2-bathroom units, one convertible 2-bedroom/1-bathroom unit, three 1-bedroom/1-bathroom units, and five 1-bedroom/1.5-bathroom units. Each unit includes a full kitchen and assigned parking space, totaling 12 parking spaces. The building underwent renovations in 2006 (roof, garage, windows, exterior walls), and any special assessments will be paid by the seller at closing. Building amenities are extensive, including a heated pool, tennis courts, gym, mini-market, hair salon, boxing studio, valet service, and 24-hour concierge. Condo maintenance fees cover hot and cold water, cable/internet, air conditioning, and exterior insurance. Laundry facilities are conveniently located on each floor. All units are licensed for short-term rentals through Airbnb, VRBO, and Booking.com, and have historically generated monthly income ranging from $5,000 to $10,000 per unit, depending on the season, with an average occupancy rate of approximately 94%. This turnkey portfolio is offered at $8,000,000, representing a price per unit of $578,214.29 and a price per square foot of $580.34. The property is zoned for residential multifamily use and features a single, one-story building constructed in 1972. Detailed financial information will be provided to qualified buyers under a Non-Disclosure Agreement.

Location Insight

City

Sunny Isles Beach

County

Miami-Dade

State

Florida

Longitude

-80.1216

Latitude

25.9551