6932 Bay Dr Miami Beach, FL 33141

Property Details for 6932 Bay Dr

Year built

1937

Property type

Commercial real estate

Description

Exceptional investment opportunity awaits in Miami Beach's desirable Normandy Isles. This 1937-built multifamily property at 6932 Bay Dr, Miami-Dade County, FL 33141, comprises a single building with five fully leased units, ensuring a consistent income stream. Recent renovations enhance its appeal and profitability. Three units underwent a complete remodel just three years ago, significantly extending their lifespan and market value. Furthermore, the roof on unit 5 was replaced a mere five years ago, minimizing future maintenance concerns. The current rental income is diversified, with two units generating $1600 per month each, one at $1400, and two additional units commanding $1750 and $1837.50 respectively. This mix provides stability and resilience against market fluctuations. The property's convenient location near the beach and various shopping amenities further enhances its desirability to tenants. The generous lot size presents exciting possibilities for future expansion, allowing for potential value appreciation and increased rental income. This turnkey investment is priced at $1,199,999 and offers a rare chance to acquire a well-maintained, high-performing multifamily property in a prime Miami Beach location. Don't miss this opportunity to secure a strong return on investment.