A fully operational 25-unit hospitality compound, 12 hotel keys (apartment size) + 13 residences, generating $1M+ in gross annual revenue with a 5.13% cap rate and $436,287 current NOI. Three renovated two-story towers on a 16,950 SF lot, three blocks from the Atlantic Ocean and one block from Collins Ave.… Read More Every unit is designer-finished with quartz countertops, rainfall showers, smart entry, and full kitchens. Amenities include a resort-style pool deck, fitness center, game room, kids' lounge, and tropical grounds, rare for North Beach at this price point. The numbers speak clearly: 50% LTV financing, $113,970 annual cash flow after debt service, a projected 10.79% levered IRR, 2.57x equity multiple, and $7M+ in profit over a 10-year hold. Four exit strategies — redevelop, rebrand, hold, or resell — with no capital restructuring required. Miami Beach's stringent STR licensing creates a structural moat that new entrants cannot easily replicate. Prime location. Proven revenue. Real optionality. This is the kind of asset North Beach simply doesn't offer twice. Read Less
Courtesy of Santiago Rodriguez, Stay Plus LLC 786-250-1810
Listing Snapshot
Days Online
31
Last Updated
Property Type
Multi Family
Square Ft.
19,155
Lot Size
0.39 Acres
Year Built
1963
MLS Number
A12022628
30 Days Snapshot Of 33141
$660k
-18%
(avg) sold price
15
+1,400%
homes sold
143
-74%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1963, Building features: "Fitness Center", Construction materials: "Block", "Brick", Toal building area: 19155, 3 total units
Cooling
"Wall/Window Unit(s)"
Floors
"Ceramic Tile", "Tile", "Vinyl"
Lot
0.39 acres
Parking
"Common", "Free", "Ground Level", 11 total parkings
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