$5,600,000
560 Michigan Ave, Miami Beach FL 33139
37 days on market
- Type
- Multi Family
- Year built
- 1937
- Taxes
- $61,192/yr
- MLS #
- A12094992
About this home
This income producing property includes two renovated buildings in Miami Beach with furnished one & two bedroom apartments, licensed for short term rentals and currently leased on an NNN basis to an operating company. A future owner can choose to keep the operating company in place, enjoying steady income not subject to occupancy fluctuations, or instead operate under own management. The remodeled 9 units offer fully equipped kitchens & bathrooms as well as central AC. The property consists of two separate folios and is located on a double corner lot at 6th Street and Michigan Avenue in the heart of South Beach, close to the 5th Street Mall and the new Five Park residential tower & City park. Ocean Drive, the beach as well as the exclusive South of Fifth neighborhood are just blocks away, making this an extremely attractive location for visitors and short term tenants. Zoning is CPS2 commercial - residential mix used - FAR 2,which allows further development up to 20,000 Sq/Ft. Please ask us for proposed design renderings.
Estimated subtotal
$5,099/mo
- Principal and interestThe current market rate is not available right now. Enter the rate your lender quoted.
- Not included
- Property taxMLS 2025 annual tax, shown monthly
- $5,099
- HOANot in the MLS record
- Not included
The current market rate is not available right now. Enter the rate your lender quoted.
Estimate. Jumbo and investor loans are often priced differently; verify with your lender. Property tax is the seller's current bill and may be reassessed after purchase. Items marked Not included are not in this total.
Is this the right price?
We send written comps, the full cost of owning it and an offer strategy before you tour or offer.
The neighborhood
Miami Beach, 33139
What to check here
Compare association costs, flood exposure and financing across distinct condo submarkets.
Listing courtesy of The Corcoran Group
Listing data provided by the Miami Association of Realtors MLS, deemed reliable but not guaranteed.