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$4,900,000
Est. payment /mo
7,821 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,821 sqft
Price per Sqft $626
MLS Listing ID A12003967
HOA Y/N No
Year Built 1940
Annual Tax Amount $62,313
Tax Year 2025
Lot Size 5,650 Sqft
Property Sub-Type Multi Family
Property Description
420 78th St is a 23-unit multifamily property located in the heart of North Beach, just steps from the ocean. The asset consists of 22 studio units and one 1-bedroom/1-bath unit within a 7,821 SF, three-story building, currently generating approximately $408,000 in gross income. The property is fully occupied, offering strong in-place cash flow with additional upside through future rent growth, making it an attractive investment opportunity in a high-demand rental market. Positioned in a prime beachside location, the property benefits from consistent tenant demand and is just minutes from major employment hubs, retail, and dining, as well as Downtown Miami. The offering also includes a highly attractive assumable loan through CBRE with an approximate $1.7M balance at a 3.18% interest rate, providing a significant financing advantage for a new owner.
Location
State FL
County Miami-dade
Area 32
Exterior
Private Pool Yes
Building
Story 3
Sewer Public Sewer
Water Public
Others
Tax ID 02-32-02-007-0980
Acceptable Financing Assumable, Cash, Conventional, Other
Listing Terms Assumable, Cash, Conventional, Other
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12003967
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Listed by Fausto Commercial Realty Consultants Inc