420 78th St, Miami Beach FL 33141
Miami Beach, FL 33141
$4,600,000
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- Price
- $4,600,000
- Building size
- 7,821
- Property type
- Income/MultiFamily
- Year built
- 1940
- Lot size (sq ft)
- 5,650
- MLS number
- A12003967
This listing is courtesy of Fausto Commercial Realty Consultants Inc, 786-748-7373.
About this property
420 78th St is a 23-unit multifamily property located in the heart of North Beach, just steps from the ocean. The asset consists of 22 studio units and one 1-bedroom/1-bath unit within a 7,821 SF, three-story building, currently generating approximately $408,000 in gross income. The property is fully occupied, offering strong in-place cash flow with additional upside through future rent growth, making it an attractive investment opportunity in a high-demand rental market. Positioned in a prime beachside location, the property benefits from consistent tenant demand and is just minutes from major employment hubs, retail, and dining, as well as Downtown Miami. The offering also includes a highly attractive assumable loan through CBRE with an approximate $1.7M balance at a 3.18% interest rate, providing a significant financing advantage for a new owner.
Details
- Property type
- Income/MultiFamily
- Year built
- 1940
- Lot size (sq ft)
- 5,650
Location
Listing information is deemed reliable but is not guaranteed accurate by MIAMI REALTORS®.
Newmar Brokerage, LLC