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About This Property
A fully operational 25-unit hospitality compound, 12 hotel keys (apartment size) + 13 residences, generating $1.1M+ in gross annual revenue with a 6.4% cap rate and $483,615 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. 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. The owner is willing to continue operating the property for up to six months for a management fee of 10% of gross rental revenue, allowing the new owner time to learn the business and either transition to a new property manager or assume operations directly.
Property Features
County
Miami-Dade County
Section
2
Area
19155
Subdivision
ALTOS DEL MAR NO 3
Interior
Stairs
Cooling
Electric
Bedrooms
Floors
Tile, Vinyl
Full Baths
Appliances
Heating
Other
Style
Other
Garage Spaces
Construction/Exterior
Concrete Block Construction, Brick
Patio / Deck Description
Exterior
Has a Pool
1
Possession
Funding
Lot Size in Acres
Water
Municipal Water
Sewer
Public Sewer
Lot Size in Sq. Ft.
0
Has Waterfront
No
Parking Description
View
Has Garage
No
Roof/Attic
Concrete, Flat Tile
Senior Community
No
Other Utilities
Property Type
Residential Income
Pets
Property SubType 2
Quadruplex
Tax Year
2025
Year Built
1963
Tax Amount
$809106
APN
NA
Square Feet Source
NA
Map
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