Anyone investing in Buildings in South Beach, MIA?

4 Replies

Hi all, does anyone have experience in investing in small apartment/condo buildings in South Beach,Miami ?

I was wondering if there is anything in the market for less than 500/700k with good cap rate. My feeling is that there isn't many multi family properties in south beach, maybe mostly are old/new condo buildings and hotels?



There are no good cap rates in SOBE.

Enough said:)

I will stick to enjoying the sun once a year , staying at an hotel  and  investing elsewhere.



We looked around down there in 2011 and 2012.  We saw some tiny condos in the $200-250K price range.  We weren't ready to pull the trigger at that point, though, and weren't sure we wanted a tiny condo even if it was close to the beach.  In hindsight, we should have bought something - anything!  This was just for individual condos.  Didn't really see any full buildings for sale.

To really make money have have good cash flow/cap rates in South Beach, you need to find multifamily buildings zoned for short-term and cash in on the short-term vacation rentals. I manage a 10 unit multifamily for a client of mine and he makes great money on short-terming all 10 units with a heavily advertised marketing program that I sent him up on all the vacation rental websites. Long-term multifamilies in Miami Beach don't really cash flow well as the price of acquisition is very high.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here