851 80th St, Miami Beach FL 33141 | Miami-Dade County | A11923537

This four-unit multifamily property is located at 851 80th St in Miami Beach’s North Beach neighborhood. The two-story, 4,458-square-foot building sits on a 5,650-square-foot lot and features four spacious units, each with two bedrooms and one bathroom. Built in 1947, the property is well-maintained and currently generates $105,600 in annual income. The property is zoned RM-1, offering potential for future redevelopment in a submarket known for strong rental demand. Located on a quiet block between Crespi Blvd and Hawthorne Ave, it provides easy access to the beach, public parks, transit, and the Bandshell District. Mature landscaping and stable occupancy make it a turnkey investment opportunity. With a projected proforma income of $120,000, the property has a Net Operating Income of $66,435 in place and $80,835 projected. At a purchase price of $1.5 million, the current cap rate is 4.43%, with a projected stabilized cap rate of 5.39%. This income-producing property is a strong contender in a growing part of Miami Beach. For more details or to schedule a visit, call 305-859-4733.