625 77th St, Miami Beach, FL 33141
- $1,550,000
- 4,162
- SqFt
- List Price
- $1,550,000
- MLS
- A11950199
- Complex Name
- Altos Del Mar No 3
- Status
- PENDING
- Type
- Multifamily
- Living Area
- 4,162
Property Description
TOTALLY UPDATED INCOME GENERATING BUILDING! Walk to the BEACH! This two-story, 4,162 SF multifamily building sits on a 5,500 SF lot and offers immediate income! The property features 4 spacious units, each a 2-bedroom / 2-bathroom residence, all currently leased on 12-month agreements. Current annual income:$112,800 Projected annual income: $124,000 NOI: $71,447 Cap Rate: 4.61% Fully updated in 2019, including completion of the 40-year certification. New roof installed with permits in January 2026, offering long-term peace of mind. Unit features: Hurricane-impact windows and doors, recent interior paint, porcelain flooring, in-unit washer/dryer combos, stainless-steel appliances, open-concept kitchens, and a well-maintained garden with secured fencing. Situated in a high-demand rental area near the upcoming Town Center Redevelopment, surrounded by new luxury high-rises—a strong catalyst for future appreciation and tenant demand.Walk to the beach, restaurants, public transit, schools. and close to the Normandy Shores Golf Course. PLEASE DO NOT BOTHER THE TENANTS
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Additional Information
- Days on Market
- 133
- Waterfront Description
- Ocean Access
- Style
- Quadruplex, Fourplex
- Special Information
- Completely Renovated
- Exterior Features
- Balcony, Exterior Lights
- Year Built
- 1950
- Development Name
- Altos Del Mar No 3, Alexis
- #Stories
- 2
- Construction Type
- Concrete Block Construction, CBS Construction
- Section
- 2
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Listing Courtesy of London Foster Realty, Contact: