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560 Michigan Ave

Miami Beach FL 33139

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Currently for sale - view listing

Overview

This income producing property includes two renovated buildings in Miami Beach with furnished one & two bedroom apartments, licensed for short term rentals and currently leased on an NNN basis to an operating company. A future owner can choose to keep the operating company in place, enjoying steady income not subject to occupancy fluctuations, or instead operate under own management. The remodeled 9 units offer fully equipped kitchens & bathrooms as well as central AC. The property consists of two separate folios and is located on a double corner lot at 6th Street and Michigan Avenue in the heart of South Beach, close to the 5th Street Mall and the new Five Park residential tower & City park. Ocean Drive, the beach as well as the exclusive South of Fifth neighborhood are just blocks away, making this an extremely attractive location for visitors and short term tenants. Zoning is CPS2 commercial - residential mix used - FAR 2,which allows further development up to 20,000 Sq/Ft. Please ask us for proposed design renderings.

Features

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Property history for 560 Michigan Ave

2013
Sold
$950,000
20 Aug 2013 by Olimpia R Zanardi, of Worldwide Properties

Happy sellers in Miami Beach

90%
90% of sellers in Miami Beach reported that their sale price either exceeded or met their price expectations.

Miami Beach stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 10 reviews in Miami Beach over the last 12 months.

Local market activity for other properties in Miami Beach

In the last 12 months, 22 other properties similar to 560 Michigan Ave, have been sold.

This represents a 12% increase in other properties sales when compared to the previous 12 months.

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