Lincoln Terrace Multifamily Homes For Sale

1610 bay rd, a 4-unit apartment building currently operating as a short-term rental. Located in the heart of south beach’s vibrant waterfront corridor, 1610 bay rd is well positioned within one of miami beach’s most sought after sub-markets. Bay rd runs parallel to the western-point of south beach, positioning the asset steps away from biscayne bay, lincoln road, and sunset harbor. Built in 1950, the property sits on a lot approximately0.12 acres zoned medium intensity rm-2. All four units currently operate as short-term rentals and consist of fully-furnished 2 bedroom & 1 bath apartments with on-site laundry for guests. A future investor would receive a turnkey short-term rental asset within miami’s leading destination for tourism. Additionally, 1610 bay rd’s attractive unit size and premier location offers a strong rental market as a traditional multi-family asset. With comparable rates in the area ranging from $3.50-$4.00 per sq ft, an investor has the unique opportunity to continue operations as a short-term rental, combine long-term and short-term use, or fully convert the property into long-term apartments.