USD 3,200,000

570 NE 68th St
Miami, Florida 33138

Beds
Baths 0

Property Description

This 8 unit multifamily building is located in an extremely desirable area within the upper east side district of Miami. It is in close proximity to Biscayne Blvd and only a few minutes from Miami Beach. The physical property consists of 3,796 leasable SF, well situated on a large 7,200 sf lot. The property is zoned T5-L, which allows short-term rentals by right. Once up and running as a vacation rental, this property is projected to generate over $301,440 annual gross income. Using a conservative $120 p/night rate and 20 days occupancy rate, projected net income will $249,531, which will provide an investor with a strong 7.79% capitalization rate at a full asking price.

Listed by RE/MAX 5 Star Realty

Property Details

ID #
A11058867
Status
Sale
Type
Commercial, Industrial
Zip Code
33138
Year Built
1937
Occupancy
Call Listing Agent
Type of Building
Apartments, Residential-Multi-Family
Utilities
Internet
Zoning Information
6107

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