Property 7124 Bay Drive, Miami Beach, FL 33141 for sale with MLS# A11924424
Exceptional Turnkey Investment Opportunity in Miami Beach Fully leased 8-unit multifamily property offering strong income and long-term upside. The building comprises 4 studios and 4 1BD/1BA units, all well-maintained. Property highlights include: impact windows throughout, split A/C units in every apartment, full kitchens and updated bathrooms, and upgraded electrical and plumbing systems. Succesffully Completed 40-years certification. The property offers a compelling opportunity to optimize future rent in one of Miami Beach's most sought-after neighborhoods. Highly desirable Normandy Isles neighborhood, minutes to the beach, public transportation, shops, restaurants, and major Miami destinations. High rental demand and low vacancy area.The neighborhood is transitioning from a somewhat quiet into a vibrant, upscale, and highly desirable upcoming luxury community
7124 Bay Drive, Miami Beach, FL 33141
- Price:
- $2,140,000.00
- Original List Price:
- $2,390,000.00
- List Price per Sq Ft (Calculated, Approx.):
- $452.24
- Gross Scheduled Income:
- 150900
- Tenant Pays:
- Electricity, Hvac Maintenance, Maintenance, Interior Electric
- Listing Type:
- For Sale
- Status:
- Active
- Listing Category:
- Commercial Sale
- Property Type:
- Multi Family
- Description of Last Important Update:
- Back On Market
- Last Major Update on:
- August 12, 2026 5:16 am
- Built-Up Area:
- 4,732 Sqft
- Lot Size Acres:
- 0.12
- Security:
- Smoke Detector(s), Security System
- Air Conditioning
- Air Conditioning System:
- Other
- Heating
- Heating System:
- Other
- Year Built:
- 1940
- Roof:
- Tile
- Number of Buildings:
- 7124
- Number of Units Total:
- 7
- Construction Materials:
- CBS
- Flooring:
- Tile, Wood, Other
- Number of stories:
- 2
- Road Frontage Type:
- City Street
- Flood Zone Code:
- AE
- Property Condition:
- Resale
- Tax Annual Amount:
- $28,380.00
- Tax Year:
- 2024
- Maintenance Expense:
- $1,800.00
- Insurance Expense:
- $9,000.00
- Electric:
- 110 Volts
- Utilities Available:
- Sewer Available
- Water Source:
- Public
- Senior Community:
- No
- Documents Available:
- Deed, Rent Rolls, Inventory, Aerial Photo(s), Photos, Copy Of Lease(s), Owner Managed, Financial Statement
- Listing Terms Considered by Seller:
- Cash, Conventional, Cryptocurrency
- Buyer Possession:
- Negotiable, Close Of Escrow
- Tax Legal Description:
- OCEAN SIDE OF ISLE OF NORMANDY PB 25-60 LOT 5 LESS S50FT BLK 3 LOT SIZE 63.330 X 75 OR 23582-2898 07 2005 2 (2) COC 26296-4755 03 2008 2
- Real Estate Folio Number (Parcel Number):
- 0232100130320
- Zoning:
- 4800
- Active on the market since:
- August 12, 2026
- Listing Agreement executed on:
- December 3, 2025
- Price change occurred on:
- April 13, 2026 8:06 pm
- Listing Status Last Changed On:
- August 12, 2026 5:16 am
- Photos updated on:
- August 12, 2026 4:17 am
- Last Modified:
- August 12, 2026 4:17 am
- Courtesy of:
- One Sotheby's International Realty
- Attribution:
- Not provided
- Street Name:
- Bay
- Street Number:
- 7124
- City:
- Miami Beach
- State:
- Florida
- Zip Code:
- 33141
- County:
- Miami-Dade
- Latitude:
- N25° 51' 23.5''
- Longitude:
- W81° 52' 16.9''
- Street Suffix:
- Drive
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Neighborhood Stats
Source: U.S. Census Bureau, ACS 5-Year Estimates
Air Quality
Source: AirNow.gov · Miami
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