Investment Overview

Marcus & Millichap, as exclusive listing agent, is excited to bring to market Bahia Beach, a very rare, six-story rental building located in the highly sought-after Fort Lauderdale Beach submarket of Fort Lauderdale, Florida, approximately 300 yards from the sand. Bahia Beach was originally developed in 1966 as a 21-unit apartment building (per original CO), but over the years the units were modified into as many as 35-units and operated as a hotel, short term rentals, and eventually a sober living facility. The current owner, which operated the facility, vacated the property over a year ago and is now offering the property for sale. The property will be delivered 100% vacant, requiring significant renovations. All flooring, kitchens, bathrooms, and interior walls have been removed, which leaves an exciting value-add opportunity for a new owner to renovate and reconfigure units if they choose. Other than a handful of hotels, this is the largest and tallest rental building in the area. Furthermore, with the significant pipeline of new ultra luxury condominiums being developed in the immediate area, the property would be an excellent redevelopment opportunity. There are multiple condominiums in planning or being developed with pre-construction prices starting at $3,000,000 and reaching as high as $6,000,000+. The property sits on a 17,167 square foot site and is zoned RMH-60 which allows for a 120-foot structure, with bonuses up to 240 feet.