LOCATION, LOCATION, LOCATION! EXCELLENT INVESTMENT OPPORTUNITY IN NORMANDY ISLES... THIS 10-UNIT APARTMENT BUILDING IS LOCATED JUST A SHORT WALK FROM NORMANDY ISLES RETAIL ROW AND IS VERY CLOSE TO THE WHITE SANDY BEACHES OF MIAMI BEACH, A WORLD-FAMOUS GOLF COURSE, SHOPPING CENTERS, MALLS, NIGHT LIFE, AND DOWNTOWN. SAVY INVESTORS MAY WANT TO EXPLORE THE OPTION OF CONVERTING THIS BUILDING TO A SHORT-TERM RENTAL PROPERTY AND MAXIMIZE RETURNS. MOST OF THE CURRENT TENANTS HAVE BEEN HERE FOR 10+ YEARS BUT ARE MONTH TO MONTH. THERE IS GREAT POTENTIAL TO INCREASE THE RENTS TO MATCH THE HIGHER RATES IN THIS MARKET. THIS BUILDING HAS PASSED THE 40-YEAR AND 50-YEAR RECERTIFICATION AND HAS ALL LICENSES/PERMITS/CERTIFICATIONS UP TO DATE WITH THE COUNTY/CITY. POTENTIAL TO GO VERTICLE UP TO 6 STORIES!
- Address 1936 NORMANDY DRIVE #1-10
- City Miami Beach
- County Miami-Dade County
- Zip 33141
- Price $2,099,999
- Status Closed
- Subdivision
- Pets Allowed No
- MLS® # A11201794
- Property Type Commercial Sale
- Property Sub TypeMulti Family
- Status Closed
- Square Feet
- Year Built 1958
- Waterfront No
- Maintenance Fees No Info Provided
- Taxes $27,900
- Tax Year 2021