420 78th Street,Miami Beach, FL 33141
Miami Beach, FL 33141
Description
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
| MLS # | A12003967 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1940 |
| Days On Site | 171 |
| Listing Provided By | Fausto Commercial Realty Consultants Inc | Elior Levi |
Features
| SQ Feet | 7,821 |
|---|---|
| Building(s) | 1 |
| Zoning | 3900 |
| Acreage | 0.13 |
Taxes
| Tax Annual Amount | 62313 |
|---|
Area Information
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami Beach |
| Zip Code | 33141 |
| Area | 2320 |
| Listing VS Median (in 33141) | |
Price: $4,600,000 low | high Med: $95,000 sqft: 7,821 low | high Med: 13,707 $ / sqft: $588 low | high Med: $23 On site: 171 low | high Med: 76 | |
Market Activity 33141
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Learn More About This Property
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami Beach |
| Zip Code | 33141 |
| Area | 2320 |
| Listing VS Median (in 33141) | |
Price: $4,600,000 low | high Med: $95,000 sqft: 7,821 low | high Med: 13,707 $ / sqft: $588 low | high Med: $23 On site: 171 low | high Med: 76 | |