7451 Harding Ave Miami Beach, FL 33141

Property Details for 7451 Harding Ave

Year built

1947

Property size

9,154 SF

Property type

Commercial real estate

Description

This exceptional Miami Beach multifamily investment property, located at 7451 Harding Ave, offers 24 units (mix of 2-bedroom, 1-bedroom, and efficiencies) in a prime location, just steps from the beach and within the Art Deco District. The 9,154 square foot building, constructed in 1947 and situated on a 7,500 square foot lot, boasts 100% occupancy and a strong NOI of $393,248, resulting in a 6.34% cap rate. Priced at $6,200,000 ($677.30/sq ft and $258,333.33/unit), this stabilized investment presents a compelling opportunity. The property features individual AC units, a common laundry area, and fire/smoke alarms. It's fully occupied and licensed for short-term rentals, offering ease of management. The COMMERCIAL zoning permits hotel, retail, and development options, providing significant future potential. The building underwent re-certification in May 2017 and is offered fee simple and unencumbered, allowing for maximum flexibility for the new owner. This is a rare opportunity to acquire a highly profitable, well-maintained multifamily property in one of Miami Beach's most desirable locations.