USAFLBay Harbor IslandsBay Harbor Island1029 94Th St

1029 94Th St, Bay Harbor Islands, FL

House

For Sale

Listed price in listed location currency (USD).

$6,250,000

000

MLS® A12065320

Overview

Key Facts

Type Multi Family

Levels Commercial Sale

Size -

Garage

Taxes

Days Active 37

Lot Size 0.26 Acres

Approx. Age 1951

MLS® Number A12065320

Property Address: 1029 94th St, Bay Harbor Islands, FL, 33154-2380

Average square foot calculated using Size range provided by listing agent.

Description

Harbor Lofts, located at 1029 94th Street, is a 12-unit multifamily investment opportunity ideally situated in Bay Harbor Islands, one of Miami-Dade County’s most supply-constrained submarkets. Constructed in 1951 and substantially renovated, inside and out in recent years, the property is situated on an 11, 250 SF (0.26-acre) lot and comprises 8, 230 SF of net rentable living space across two stories.The unit mix consists of eleven (11) one-bedroom/one-bathroom units averaging approximately 680 SF, currently achieving average in-place rents of $2, 091 per month, and one (1) two-bedroom/one-bathroom unit averaging approximately 750 SF, currently achieving $2, 300 per month. Monthly rent at the property is inclusive of water and trash, with tenants responsible for their own gas and electricity.The property is zoned RM-2 under the Town of Bay Harbor Islands zoning code, which permits multifamily density of up to 34 dwelling units per acre as of right and up to 60 units per acre with bonuses. The existing rent roll positions the asset for a durable cash-flowing hold, while preserving long-term optionality for an investor to pursue increased density through the appropriate entitlement processes.

MLS® NumberA12065320

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1951

Basement

DrivewayCommon

Garage Spaces

HeatCentral, Individual

A/CCentral Air

Extras

Map

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