1850 S Treasure Dr
North Bay Village, FL 33141
Multifamily Property For Sale · 10 Units

Fantastic 10-unit apartment building on the intracoastal. Incredible open bay views from this 2-story CBS building consisting of 2- 2/2's and 8- 1/1's on a large 12,000 sf lot on a very private and tranquil street. Consistently fully rented, the property features upside as some units are renovated and some others can benefit from a unit improvement program; all have rents that can be considered lower for the area, and the town has a regulations in place that allow for short term/vacation rentals if so desired. The units are individually metered for electric while the owner pays for water bills. In addition, the property can be sold individually or together with a 16 unit in South Beach (please inquire) if looking to own two excellent assets in two different, yet greatly sough after areas for a total of 26 units in two buildings. As building and land are owned by two separate parties, the building is on a ground lease (expires 08/14/2055; rent is $2,500/year) which -if desired- can be cancelled upon closing of the lot & the building, if sold to the same buyer. Building is offered at $1,500,000 and lot is offered separately at $1,000,000.