Incredible investment opportunity! Unique 2 story TH unit w/ DIRECT pool & beach access from unit patio. One of the few buildings in Miami Beach that allows daily rentals through Airbnb & other platforms. Low HOA dues of $620/month. Unit been renting for about $300/night but will do much better with renovations & staging (currently in progress). Cap rate of 7% based on pro-forma income of $87K/yr. Also, Casablanca has recently decided to put itself up for sale and is expecting multiple offers within 90 days from developers. Based upon recent purchase of the nearby Castle Beach for $500M, this unit should be worth $1.5M or more. Perfect opportunity to earn income through short-term rentals while waiting for a developer purchase.
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