560 Michigan AveMiami Beach, FL 33139

Description

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.

Property Information

Property type

Residential Income

Sub-type

Multi Family

Year built

1937

Parking spaces

9

Days on market

18

MLS^® Listing#

A12094992

Property Features

Cooling

Central Air

Heating

Central

Flooring

Other

Pool

None

Construction

Block

Roof

Other

Utilities

Cable Available

Sewer

Public Sewer

Financial Details

Annual taxes

$61,192Tax year 2025

Parcel number

02-42-03-009-7780