About this Property
PLEASE SEE OM FOR MORE DETAILS!! 660 85th Street presents a rare opportunity to acquire a 12-unit boutique multifamily asset in the highly desirable Biscayne Point / North Beach submarket of Miami Beach. This four-story Art Deco-style building offers covered gated parking, elevator service, central AC, and private balconies—premium amenities rarely found in comparable North Beach boutique assets. Currently 83% occupied, the property includes two vacant units that provide immediate lease-up upside at market rents. Existing in-place rents remain approximately 30–40% below market, allowing a new owner to drive strong organic NOI growth through natural lease rollover without major capital improvements. Current gross income is approximately $242,700 annually, with stabilized upside projected near $288,300 and estimated NOI around $167,174. Located just blocks from the Atlantic Ocean, North Beach Oceanside Park, Ocean Terrace redevelopment, Bal Harbour Shops, and major retail amenities, the asset benefits from one of Miami Beach’s most supply-constrained rental micro-markets. Also available as part of a multi-property acquisition with 709 83rd Street, this offering provides added scale and portfolio synergies for investors seeking expanded North Beach exposure.
Disclaimer
MIAMI Association of REALTORS® is not responsible for the accuracy of the information listed above. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program and the South East Florida Regional MLS and is provided here for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than the office owning this website are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Data provided is deemed reliable but not guaranteed. Copyright MIAMI Association of REALTORS®, MLS All rights reserved. This property is courtesy of Beachfront Realty Inc.
