About 420 78th Street
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.
Features of 420 78th Street
| MLS® # | A12003967 |
|---|---|
| Price | $4,600,000 |
| Acres | 0.13 |
| Year Built | 1940 |
| Type | Commercial |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 420 78th Street |
|---|---|
| Area | 2320 |
| City | Miami Beach |
| County | Miami-Dade |
| State | FL |
| Zip Code | 33141 |
| HOPA | No Hopa |
Additional Information
| Zoning | 3900 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Fausto Commercial Realty Consultants Inc |
|---|