420 78th St is a 23-unit multifamily property located in the heart of North Beach, just steps from the ocean. The asset consists of 22 studio units and one 1-bedroom/1-bath unit within a 7,821 SF, three-story building, currently generating approximately $408,000 in gross income. The property is fully occupied, offering… Read More strong in-place cash flow with additional upside through future rent growth, making it an attractive investment opportunity in a high-demand rental market. Positioned in a prime beachside location, the property benefits from consistent tenant demand and is just minutes from major employment hubs, retail, and dining, as well as Downtown Miami. The offering also includes a highly attractive assumable loan through CBRE with an approximate $1.7M balance at a 3.18% interest rate, providing a significant financing advantage for a new owner. Read Less
Courtesy of Fausto Commercial Realty Consultants Inc, Elior Levi, 786-748-7373.
Listing Snapshot
Days Online
55
Last Updated
Property Type
Multi Family
Square Ft.
7,821
Lot Size
0.13 Acres
Year Built
1940
MLS Number
A12003967
30 Days Snapshot Of 33141
$643k
-20%
(avg) sold price
14
+1,300%
homes sold
128
-77%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1940, Toal building area: 7821
Lot
0.13 acres
Property
Zoning: 3900
Sewer
"Public Sewer"
Taxes
Annual amount: $62,313
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