660 85th Street presents a rare opportunity to acquire a 12-unit boutique multifamily asset in the highly desirable Biscayne Point / North Beach submarket of Miami Beach. This four-story Art Deco-style building offers covered gated parking, elevator service, central AC, and private balconies—premium amenities rarely found in comparable North Beach… Read More boutique assets. Currently 83% occupied, the property includes two vacant units that provide immediate lease-up upside at market rents. Existing in-place rents remain approximately 30–40% below market, allowing a new owner to drive strong organic NOI growth through natural lease rollover without major capital improvements. Current gross income is approximately $242,700 annually, with stabilized upside projected near $288,300 and estimated NOI around $167,174. Located just blocks from the Atlantic Ocean, North Beach Oceanside Park, Ocean Terrace redevelopment, Bal Harbour Shops, and major retail amenities, the asset benefits from one of Miami Beach’s most supply-constrained rental micro-markets. Also available as part of a multi-property acquisition with 709 83rd Street, this offering provides added scale and portfolio synergies for investors seeking expanded North Beach exposure. Seller financing available. Read Less
Courtesy of Beachfront Realty Inc, Marilina R Apfelbaum, 305-405-0615.
Listing Snapshot
Days Online
66
Last Updated
Property Type
Hotel/Motel
Square Ft.
13,400
Lot Size
0.14 Acres
Year Built
1989
MLS Number
A12001732
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 1989, Toal building area: 13400
Lot
0.14 acres
Property
Zoning: 3900
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