|Price/Rent PSF||$ 1,490,000.00|
|SQ. FT. Available||3,520|
MALIBU is an 8-unit apartment building in the heart of Miami Beach’s North Beach neighborhood. It is a recently improved, cash-flowing asset in an unbeatable location. Located between Collins Avenue and Harding Avenue, MALIBU is less than a block from the beach in one of the fastest growing neighborhoods in Miami Beach.
In-place rents are well under market value and can be immediately raised to reflect the high rental demand in North Beach. Most existing tenancy is on a monthly basis.
MALIBU was originally operated as a 12-unit building and then converted to 8 units. There are 4 studios and 4 one- bedroom, 2-bathroom units.
Zoning was recently approved for Short-Term Rentals.
MALIBU is located in the North Beach neighborhood of Miami Beach, an area experiencing explosive growth in the retail and tourism sectors. Situated between Collins Avenue and Harding Avenue, residents can take advantage of the beachside lifestyle, while maintaining access to the retail and food and beverage along 71st Street.
Nearby development includes a 179-room hotel approved on 72nd Street and Collins Avenue and recent up-zoning to make way for a Town Center District along 71st Street.
See flyer for full details.