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Tyler Coon

tyler@savvy.realty +1(828) 620-2541

$8,499,000

Est. payment - /mo

19,155 SqFt

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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 19,155 sqft

Price per Sqft $443

MLS Listing ID A12022628

HOA Y/N No

Year Built 1963

Annual Tax Amount $80,916

Lot Size 0.389 Acres

Property Sub-Type Multi Family

Property Description

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. 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.

Location

State FL

County Miami-dade

Area 32

Interior

Heating Other

Cooling Wall/Window Unit(s)

Flooring Ceramic Tile, Tile, Vinyl

Window Features Impact Glass

Exterior

Roof Type Concrete

Total Parking Spaces 11

Garage Yes

Private Pool Yes

Building

Story 2

Sewer Other

Water Public

Level or Stories Two

Structure Type Brick,Block

Others

Tax ID 02-32-02-007-1180

Security Features Fenced,Smoke Detector(s)

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://www.propertypanorama.com/instaview/mia/A12022628

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Miami Association of Realtors (SEFMIAMI MLS)

Listed by Stay Plus LLC

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Tyler Coon

+1(828) 620-2541

Founder & CEO | License ID: 313885

Founder & CEO License ID: 313885

7830 Abbott Ave #25 Miami Beach, FL 33141

Tyler Coon

Key Details

Location

Interior

Exterior

Building

Others

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7830 Abbott Ave #25