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.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
