1936 NORMANDY DRIVE Unit: 1-10

$1,850,000

7,655 Sq.Ft. 6,250 Sq.Ft.

Description

LOCATION, LOCATION, LOCATION! EXCELLENT INVESTMENT OPPORTUNITY IN NORMANDY ISLES... THIS 10-UNIT APARTMENT BUILDING IS LOCATED JUST A SHORT WALK FROM NORMANDY ISLES RETAIL ROW AND IS VERY CLOSE TO THE WHITE SANDY BEACHES OF MIAMI BEACH, A WORLD-FAMOUS GOLF COURSE, SHOPPING CENTERS, MALLS, NIGHT LIFE, AND DOWNTOWN. SAVY INVESTORS MAY WANT TO EXPLORE THE OPTION OF CONVERTING THIS BUILDING TO A SHORT-TERM RENTAL PROPERTY AND MAXIMIZE RETURNS. MOST OF THE CURRENT TENANTS HAVE BEEN HERE FOR 10+ YEARS BUT ARE MONTH TO MONTH. THERE IS GREAT POTENTIAL TO INCREASE THE RENTS TO MATCH THE HIGHER RATES IN THIS MARKET. THIS BUILDING HAS PASSED THE 40-YEAR AND 50-YEAR RECERTIFICATION AND HAS ALL LICENSES/PERMITS/CERTIFICATIONS UP TO DATE WITH THE COUNTY/CITY. POTENTIAL TO GO VERTICLE UP TO 6 STORIES!

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Location

1936 NORMANDY DRIVE # 10 Unit: 1-10, Miami Beach, FL 33141

Status

Sold

Date Sold

November 1, 2022

Property Amenities

Interior

Flooring Tile

Area & Lot

Lot Area 6,250 Sq.Ft.

Living area 7,655 Sq.Ft.

MLS® ID A11201794

Year Built 1958

Type Commercial

Status Sold

Exterior

Stories 2

Air conditioning Central Individual A/C, Wall/Window Unit(s)

Heat type Central Individual A/C, Wall/Window Units

Water Source Public

Security Features Other Fire Protection, Smoke Detector(s), Security Fence, Security Gate

Sewer Public Sanitation

Parking Common

Lot Features In Residential Area

Roof Composition Roll

Finance

Sales Price $1,850,000

Real Estate Tax $27,900 yearly

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$1,850,000