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570 NE 68th St

Miami, FL 33138
  • $3,200,000
  • STATUS: Active
  • ON SITE: 215 Days
  • MLS #: A11058867
UPDATED: 55 min ago
$3,200,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1937
County:

School Ratings & Info

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.

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Copyright 2022, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS’s in the Southeast Florida Regional Multiple Listing Service cooperative agreement, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2022, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited. Data last updated 2022-01-19T14:53:37.25.
www.ewm.com/homes/118441367
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570 NE 68th St Miami, FL 33138

  • Price: $3,200,000
  • Status: Active
  • On Site: 215 Days
  • Updated: 55 min ago
  • MLS #: A11058867
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1937
Built
County:
Miami-Dade
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.
Exterior Features

Pool Private YN No View YN No Waterfront YN No

Interior Features

Building Area Total 3796

Property Features

Association YN No Business Type ApartmentsResidential-Multi-Family Horse YN No Internet Address Display YN Yes Internet Automated Valuation Display YN Yes Internet Entire Listing Display YN Yes New Construction YN No Public Survey Section 18 Senior Community YN No Special Listing Conditions Sale Tax Annual Amount 16225 Zoning 6107

Listing courtesy of Re/Max 5 Star Realty.


Copyright 2022, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS’s in the Southeast Florida Regional Multiple Listing Service cooperative agreement, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2022, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited. Data last updated 2022-01-19T14:53:37.25.
 
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