$1,700,000
531 16th St, Miami Beach, FL 33139
Miami Beach, FL 33139
Prime investment opportunity in South Beach. This income-producing five-unit boutique building sits on a corner lot at Meridian Avenue and 8th Street, one of the most picturesque and desirable residential locations in Miami Beach. The property offers strong upside potential and is zoned 4900 Multi-Family with a 1.25 FAR,potential for up to approx 5,250 square feet of buildable area. An excellent candidate for redevelopment, condo deconversion to multifamily, or value-add renovations to increase rental income. Great for a 1031 buyer and provides stable rental income, with historically high occupancy throughout ownership. The property includes five tandem, partially covered parking spaces accommodating up to 10 cars. A rare and versatile South Beach asset within walking distance of the beach, Flamingo Park, shops, restaurants, and the sought-after South of Fifth neighborhood.
Courtesy of Location3 International, LLC.
