2811 Indian Creek Dr Miami Beach, FL 33140
- Residential income homes
Current Use by Public Records
- Residential income homes
Property Details for 2811 Indian Creek Dr
- Year built
- 1932
- Property type
- Residential income homes
- APN
- 02-3226-001-0990
Description
This exceptional multifamily investment property, located at 2811 Indian Creek Dr, Miami Beach, FL 33140, presents a compelling value-add opportunity. The property, a two-story, Class B building constructed in 1932 and renovated in 1995, comprises three units within a single building on a 4,500 sq ft waterfront lot. With a total net rentable area of 3,000 sq ft, the asking price is $2,199,000, translating to $733,000 per unit. The property boasts a 4.80% cap rate and benefits from its prime location in the booming Faena Arts District, just one block from the ocean. The area is characterized by a very expensive rental market, surrounded by hotels, shopping, and restaurants. The property is conveniently situated on the free trolley route. The permitted zoning is RM-2. The property's waterfront location and proximity to amenities offer significant upside potential for future rental income. The current leases are in place for one year. APN: 02-3226-001-0990.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami Beach
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.1263056
- Latitude
- 25.8049714
