Investment Overview

1610 Bay Rd is a 4-unit apartment building currently operating as a short-term rental that is located in the heart of South Beach’s vibrant waterfront corridor, Bay Rd runs parallel to the western-point of South Beach, positioning the asset steps away from Biscayne Bay, Lincoln Road, and Sunset Harbor. The location offers walking proximity to cultural attractions, restaurants, major-retailers, and grocery stores — presenting a strong appeal for tourism, as well as long-term renters. Built in 1950, the property sits on a lot approximately 0.12 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.