Prepared for 3/30/2015
Properties for Sale 1
315 & 321 South Shore Drive, Miami Beach, FL 33141 Property Details Price No. Units Building Size Lot Size Price/Unit Property Type Property Sub-type Additional Sub-types
Property Use Type Commission Split Occupancy No. Stories Year Built Tax ID/APN Status
$2,499,000 12 12,109 SF 0.33 AC $208,250 /Unit Multifamily Garden/Low-Rise Multifamily (land) Residential (land) Commercial/Other (land) Investment 100% 2 1950 02-3203-007-1330 Active
Property Notes
Property Description Property consists of two, facing, two-story buildings with private courtyard between and dedicated off street parking. Spacious units with nice floor plans. Units rent very easily. Property is also a good candidate for condominium conversion or for building a new residential project directly on the golf course. Current rents are 15-20% lower than market due to long time tenants.
Location Description This property is located on a newly renovated golf course and a street with new sidewalks, bump-outs, and landscaping. All city projects have been completed. Zoned to build 4-5 story multi-family projects with City planning approval. Beautiful 14,400 sf double size lot on Normandy Isle Golf Course. Walking distance to park, tennis courts, and revitalized downtown area with shops and restaurants. Area is exploding with sold-out developments of high-end town homes and condominiums on both the water and golf course. Very few multifamily opportunities left on this golf course. Located next to gated neighborhood of million-dollar plus residential homes.
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315 & 321 South Shore Drive Miami Beach, FL 33141
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