241 28th St, Miami Beach, FL 33140
Major Deal Alert - Faena District Investment Opportunity ! Location, location, location: One block from the beach, this fully renovated 1930’s 2 story 4-plex is up for SALE with current CASH FLOW. The property consists of 4 separate units which each have 2 Bed 1 Bath. Each unit is 880 Sq Ft Living. Fully Furnished and Washer and Dryer. Property upgrades include hurricane impact windows, new plumbing, new electric, Central A/C, Water Heaters laundry room and on-site parking. Commercial zoning, currently operating as a short term rental. You can also do Daily Rentals/AirBnB. Redevelopment play with city ordinances stating a maximum height of 75 feet to add extra floors. 40 year RECERTIFICATION PASSED. Also can be reconfigured as the Ultimate Single Family Beach Home.
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Competition is low in Ocean Front, with homes selling 6% below asking price over the last three months. Three years ago, they were selling 17% below asking price.
Built in 1932, this home is among the oldest homes for sale in Miami Beach.
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This home is in flood zone AE which is high risk. Mandatory flood insurance requirements apply to properties in this zone.
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