2221 26Th Ln Miami, FL 33133

Property Details for 2221 26Th Ln

Year built

1935

Property type

Small apartment buildings

Description

This charming 2-story, 1935-built apartment building in Miami's desirable Coconut Grove neighborhood presents a compelling investment opportunity. Located at 2221 SW 26th Lane, Miami, FL 33133, this multifamily property, currently operating as a highly successful Airbnb, offers a blend of historical character and modern updates. The building boasts authentic hardwood pine floors, a recently installed roof, and efficient tankless water heating. Recent improvements also include fresh landscaping, a new deck, and a privacy fence, enhancing both curb appeal and tenant privacy. Inside, high ceilings and an open floor plan create a welcoming atmosphere, complemented by a natural wood-burning fireplace, granite countertops in the bathrooms, and updated walls and baseboards. Impact windows provide both safety and energy efficiency. The property operates on a single meter, simplifying utility management. Financial performance is strong, with a net operating income (NOI) of $8,106 per month during the off-season, and $8,000 to $10,000 per month during peak season, after accounting for a 20% management fee. This turnkey investment is priced at $1,250,000 and offers significant potential for continued growth and profitability in a highly sought-after Miami location. The property is zoned for multifamily use and is a duplex/triplex/quadruplex. This presents a rare opportunity to acquire a well-maintained, income-producing asset in a prime Coconut Grove location.