960 Biarritz Dr, Miami Beach FL 33141,Miami Beach,Miami-Dade County,Commercial Sale

$3,430,000

Overview

Income/MultiFamily
Property Type

Description

960 Biarritz Drive is a 14-unit stabilized and fully renovated apartment building in the heart of North Beach. The property is steps from the water and a 5 minute walk to the beach. North Beach is a growing market with a number of attractive retailers, restaurants, and new developments. All 14-units have tile flooring, full kitchens, and impact windows/doors. The property is being offered at a 6.13% existing cap rate and is fully leased with below market rents. The purchaser can likely increase rents. All leases have 60 day termination clauses.

Address

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Address: Biarritz Dr
City: Miami Beach
State/county: Miami-Dade County
Zip/Postal Code: 33141

Details

Updated on November 15, 2023 at 12:43 pm

Price $3,430,000
Year Built 1977
Property Type Income/MultiFamily
Property Status Commercial Sale

Additional details

PublicSurveyRange 32
ListAgentKey a7e097f14d043d54de696c9c3e00ea01
TaxLegalDescription OCEAN SIDE SEC ISLE OF NORMANDY PB 25-60 LOT 7 BLK 6 LOT SIZE 50.000 X 125 OR 19401-0108 1200 2 (2)
OnMarketDate 2023-10-20
ListAgentEmail alex@STL-advisors.com
ContractStatusChangeDate 2023-10-20
MajorChangeTimestamp 2023-11-07T19:46:17.837Z
PhotosCount 9
SubAgencyCompensation 2.5%
StatusChangeTimestamp 2023-11-07T19:46:17.837Z
PriceChangeTimestamp 2023-11-07T16:20:00.113Z
ListingKeyNumeric 388325034
MajorChangeType New
ListingContractDate 2023-10-20
ListAOR A-Miami Association of REALTORS
TaxAnnualAmount 31118
ListOfficeName STL Advisors, LLC
OriginatingSystemKey miamire
BusinessType Residential-Multi-Family
DualVariableCompensationYN yes
PhotosChangeTimestamp 2023-11-07T19:47:13.247Z
OriginatingSystemName Miami Association of REALTORS®
ListOfficePhone 561-901-1402
MlsStatus Active
StreetNumber 960
ListingKey 86381ebf21724c20e1247ae902a20083
StateOrProvince FL
ListOfficeKey c2a3a3f26a1d25064da01343ceaade3e
BridgeModificationTimestamp 2023-11-07T23:02:47.803Z
ListAgentFullName Alexandros Tsoulfas
ListAgentOfficePhone 561-901-1402
ParcelNumber 02-32-10-013-0760
OtherExpense 0
IDXParticipationYN yes
InternetAddressDisplayYN yes
ListAgentMlsId 3444839
ModificationTimestamp 2023-11-07T23:00:05.167Z
OriginatingSystemID miamire
DaysOnMarket 18
BuyerAgencyCompensationType %
ListOfficeMlsId STLA01
ListAgentDirectPhone 305-972-7217
StreetNumberNumeric 960
PostalCodePlus4 5665
NumberOfUnitsInCommunity 0
SyndicationRemarks 960 Biarritz Drive is a 14-unit stabilized and fully renovated apartment building in the heart of North Beach. The property is steps from the water and a 5 minute walk to the beach. North Beach is a growing market with a number of attractive retailers, restaurants, and new developments. All 14-units have tile flooring, full kitchens, and impact windows/doors. The property is being offered at a 6.13% existing cap rate and is fully leased with below market rents. The purchaser can likely increase rents. All leases have 60 day termination clauses.
ListAgentStateLicense 3444839
PublicSurveyTownship 32
ListingAgreement Exclusive Right To Sell
PublicSurveySection 10
ListingId A11482435
SpecialListingConditions Sale
OriginalListPrice 3490000
BuildingAreaUnits Square Feet
InternetEntireListingDisplayYN yes
BuyerAgencyCompensation 2.5%
InternetAutomatedValuationDisplayYN no
OriginalEntryTimestamp 2023-11-07T19:46:17.837Z
SourceSystemKey 388325034
LotSizeSquareFeet 6250
InternetConsumerCommentYN no
BuildingAreaTotal 6574