2011 Bay Dr ,Free Standing for Sale

2011 Bay Dr for Sale

Price $4,750,000.00

• Lot size 12508
• Year Build 1977
• Waterfront
• Zip 33141
• Style
• Parking Description
• Pool Yes
• Status Active

Description

BayWest Isles (2011 Bay Drive) is a four-story fully-modernized Mediterranean style apartment building featuring 15 renovated units in the heart of North Beach. All 15 apartments consist of large 830+ square foot one-bedrooms. The property is fully occupied with a current average rent of $1,812. With significantly below-market rents, there is a potential rental upside of $71,400 annually (an average of $396+ per unit per month) aligning with current market rates.

Renovations include but are not limited to: impact windows in every unit and impact glass on the balconies/exterior corridors, new blinds installed, updated PVC plumbing with easy access over the garage, new appliances, granite countertops in select units, new lighting, security cameras, controlled access gate and keypads, porcelain tile flooring, new fixtures, recently painted building and resurfaced lot, updated railings and hallways.

ISLE OF NORMANDY MIA VIEW SEC PART 1 PB 34-80 LOT 26 BLK 38 LOT SIZE 7266 SQ FT OR 18886-4950 1199 1 COC 22404-2057 06 2004 1

BayWest Isles (2011 Bay Drive) is a four-story fully-modernized Mediterranean style apartment building featuring 15 renovated units in the heart of North Beach. All 15 apartments consist of large 830+ square foot one-bedrooms. The property is fully occupied with a current average rent of $1,812. With significantly below-market rents, there is a potential rental upside of $71,400 annually (an average of $396+ per unit per month) aligning with current market rates.

City:Miami Beach,Zoning:3900,List A O R:A-Miami Association of REALTORS,Latitude:25.850633,List Price:4750000,Listing Id:A11648032,Longitude:-80.1420664,Mls Status:Active,Year Built:1977,Postal Code:33141,Street Name:Bay Dr,Coordinates:1:25.850633,Photos Count:18,Lot Size Units:Square Feet,M I A M I R E_ Area:32,On Market Date:2024-08-26,Parcel Number:02-32-10-002-1060,Property Type:Commercial Sale,Street Number:2011,Public Remarks:BayWest Isles (2011 Bay Drive) is a four-story fully-modernized Mediterranean style apartment building featuring 15 renovated units in the heart of North Beach. All 15 apartments consist of large 830+ square foot one-bedrooms. The property is fully occupied with a current average rent of $1,812. With significantly below-market rents, there is a potential rental upside of $71,400 annually (an average of $396+ per unit per month) aligning with current market rates.,County Or Parish:Miami-Dade County,List Office Name:STL Advisors, LLC,Private Remarks:Renovations include but are not limited to: impact windows in every unit and impact glass on the balconies/exterior corridors, new blinds installed, updated PVC plumbing with easy access over the garage, new appliances, granite countertops in select units, new lighting, security cameras, controlled access gate and keypads, porcelain tile flooring, new fixtures, recently painted building and resurfaced lot, updated railings and hallways.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:4498,Property Sub Type:Income/MultiFamily,State Or Province:FL,Tax Annual Amount:58580,Unparsed Address:2011 Bay Dr, Miami Beach FL 33141,Listing Agreement:Exclusive Agency,Building Area Total:12508,Building Area Units:Square Feet,Lot Size Square Feet:7266,Original List Price:4750000,Public Survey Range:32,I D X Participation Y N:1,Syndication Remarks:BayWest Isles (2011 Bay Drive) is a four-story fully-modernized Mediterranean style apartment building featuring 15 renovated units in the heart of North Beach. All 15 apartments consist of large 830+ square foot one-bedrooms. The property is fully occupied with a current average rent of $1,812. With significantly below-market rents, there is a potential rental upside of $71,400 annually (an average of $396+ per unit per month) aligning with current market rates.,Listing Contract Date:2024-08-26,Originating System I D:miamire,Public Survey Section:10,Street Number Numeric:2011,Tax Legal Description:ISLE OF NORMANDY MIA VIEW SEC PART 1 PB 34-80 LOT 26 BLK 38 LOT SIZE 7266 SQ FT OR 18886-4950 1199 1 COC 22404-2057 06 2004 1,Public Survey Township:32,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:Renovated and Turnkey 15-Unit Multifamily in North Beach,Contract Status Change Date:2024-08-26,Internet Address Display Y N:1,Number Of Units In Community:15,M I A M I R E_ Ok To Advertise List:No,Internet Entire Listing Display Y N:1,