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Rarely available and now for sale, tastefully renovated one bedroom and one bathroom condo-hotel with the biggest terrace on Ocean Drive.
Designed to accommodate up to 4 people per night, this unit comes fully equipped with everything needed to enjoy the best of Miami Beach.
With no rental restrictions – AIRBNB ALLOWED – enjoy the pleasure of owning a piece of this Art Deco building in Miami Beach, part of the greatest Art Deco collection in the world, while generating income.
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This spectacular condo is situated in the newest building of the Congress Suites at the Strand Hotel at 1052 Ocean Drive, centrally located next to the world’famous Versace Mansion. In the heart of South Beach, walking distance to all the attractions. Amazing location across from Lummus Park and the beach itself.
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25 minutes from Miami International Airport
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15 Minutes to Brickell, Downtown, Midtown, Design District
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HOA Includes: Electricity, Cable, High-speed Internet, Water, Sewer, Garbage Removal, Exterior maintenance, Pool maintenance.
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INCOME:
This unit generated in 2021 a net profit to the owner of $55,000 after paying every single expense, and all this before renovating the unit. Now with the current market and after renovations, based in comparable prices, this unit is expected to generate a net profit of +$100,000.00 per year.
As reflected in the following images, for a unit such as this one on tripadvisor.com on a very normal day such as Wednesday April 13th, 2022, the average price is $529 per night, supporting the projections of the analysis above.
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