1620 Bay Rd ,Attached, Quadruplex, Lincoln Terrace Sub for Sale

1620 Bay Rd for Sale

Price $3,250,000.00

• Lot size 4338
• Year Build 1950
• Waterfront
• Zip 33139
• Style Attached
• Parking Description
• Pool Yes
• Status Active

Description

This Hotel is licensed for Short-term rental in the heart of South Beach. Completely renovated in Oct 2020 in Prime South Beach location; from Roof to Foundation and 40-year recertification all done in 2021 One block from Lincoln Road Mall and the Intercostal Bay. It currently has an operator with a master lease paying off a net amount to the owner. This is where the deal lies for any would-be investor that understands the intricacies of how to manage a short term. All units have a 2/ 2 layout, brand-new appliances & AC Systems. Downstairs has a stunning patio area and the upstairs units come with a balcony overlooking the bustling streets of South Beach. It is currently fully operational and bringing in a phenomenal ROI with the current management. All units are sold with the furniture.

Submit all offers via MLS Offers: https://www.mlsoffers.com/propertysearch.php?mls=A10984243

LINCOLN TERRACE SUB PB 49-100 LOT 2 LOT SIZE 50.000 X 105 OR 13017-1648 0986 1 COC 24489-3118 04 2006 5

Less Than 1/4 Acre Lot

This Hotel is licensed for Short-term rental in the heart of South Beach. Completely renovated in Oct 2020 in Prime South Beach location; from Roof to Foundation and 40-year recertification all done in 2021 One block from Lincoln Road Mall and the Intercostal Bay. It currently has an operator with a master lease paying off a net amount to the owner. This is where the deal lies for any would-be investor that understands the intricacies of how to manage a short term. All units have a 2/ 2 layout, brand-new appliances & AC Systems. Downstairs has a stunning patio area and the upstairs units come with a balcony overlooking the bustling streets of South Beach. It is currently fully operational and bringing in a phenomenal ROI with the current management. All units are sold with the furniture.

City:Miami Beach,Zoning:4000,Cooling:1:Electric,Heating:1:Electric,List A O R:A-Miami Association of REALTORS,Stories:2,Tax Year:2022,Latitude:25.7897031,Cooling Y N:1,Heating Y N:1,List Price:3250000,Listing Id:A11401295,Longitude:-80.1438833,Mls Status:Active,Year Built:1950,Living Area:4338,Postal Code:33139,Street Name:Bay Rd,Coordinates:1:25.7897031,Photos Count:10,Building Name:LINCOLN TERRACE SUB,Listing Terms:1:Conventional,2:Exchange,Lot Size Units:Square Feet,M L S Area Major:Lincoln Terrace Sub,On Market Date:2023-06-09,Parcel Number:02-32-33-008-0020,Property Type:Residential Income,Stories Total:2,Street Number:1620,M I A M I R E_ Style:Fourplex,Public Remarks:This Hotel is licensed for Short-term rental in the heart of South Beach. Completely renovated in Oct 2020 in Prime South Beach location; from Roof to Foundation and 40-year recertification all done in 2021 One block from Lincoln Road Mall and the Intercostal Bay. It currently has an operator with a master lease paying off a net amount to the owner. This is where the deal lies for any would-be investor that understands the intricacies of how to manage a short term. All units have a 2/ 2 layout, brand-new appliances & AC Systems. Downstairs has a stunning patio area and the upstairs units come with a balcony overlooking the bustling streets of South Beach. It is currently fully operational and bringing in a phenomenal ROI with the current management. All units are sold with the furniture.,Structure Type:1:Fourplex,County Or Parish:Miami-Dade County,Expiration Date:2024-07-31,List Office Name:Triangle Properties, Inc.,Standard Status:Active,Window Features:1:Impact Glass,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:2133,Property Sub Type:Quadruplex,State Or Province:FL,Subdivision Name:LINCOLN TERRACE SUB,Tax Annual Amount:28892,Unparsed Address:1620 Bay Rd, Miami Beach FL 33139,Listing Agreement:Exclusive Agency,Year Built Details:Resale,Building Area Total:4338,Building Area Units:Square Feet,M I A M I R E_ L P Amt Sq Ft:749.1932,Original List Price:3250000,Public Survey Range:32,Documents Available:1:Financial Statement,2:Other Available Information,3:Personal Property Inventory,4:Rent Rolls,I D X Participation Y N:1,Number Of Units Total:4,Syndication Remarks:This Hotel is licensed for Short-term rental in the heart of South Beach. Completely renovated in Oct 2020 in Prime South Beach location; from Roof to Foundation and 40-year recertification all done in 2021 One block from Lincoln Road Mall and the Intercostal Bay. It currently has an operator with a master lease paying off a net amount to the owner. This is where the deal lies for any would-be investor that understands the intricacies of how to manage a short term. All units have a 2/ 2 layout, brand-new appliances & AC Systems. Downstairs has a stunning patio area and the upstairs units come with a balcony overlooking the bustling streets of South Beach. It is currently fully operational and bringing in a phenomenal ROI with the current management. All units are sold with the furniture.,Listing Contract Date:2023-06-09,Originating System I D:miamire,Public Survey Section:33,Showing Instructions:Call Listing Agent,Street Number Numeric:1620,Tax Legal Description:LINCOLN TERRACE SUB PB 49-100 LOT 2 LOT SIZE 50.000 X 105 OR 13017-1648 0986 1 COC 24489-3118 04 2006 5,Public Survey Township:32,Originating System Name:Miami Association of REALTORS?,Patio And Porch Features:1:Patio,Sub Agency Compensation:1%,M I A M I R E_ Adjusted Area S F:3784,Contract Status Change Date:2023-06-09,Internet Address Display Y N:1,Number Of Units In Community:1,Internet Consumer Comment Y N:1,Transaction Broker Compensation:2.5%,Internet Entire Listing Display Y N:1,Transaction Broker Compensation Type:%,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:749.19,Internet Automated Valuation Display Y N:1,