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560 Michigan Ave, Miami Beach FL 33139

Multi-family For Sale
$5,600,000

BTC: 67.35626654

ETH: 2,113.20754717

New
0 room(s)

Overview

This income producing property includes two renovated buildings in Miami Beach with furnished one & two bedroom apartments, licensed for short term rentals and currently leased on an NNN basis to an operating company. A future owner can choose to keep the operating company in place, enjoying steady income not subject to occupancy fluctuations, or instead operate under own management. The remodeled 9 units offer fully equipped kitchens & bathrooms as well as central AC. The property consists of two separate folios and is located on a double corner lot at 6th Street and Michigan Avenue in the heart of South Beach, close to the 5th Street Mall and the new Five Park residential tower & City park. Ocean Drive, the beach as well as the exclusive South of Fifth neighborhood are just blocks away, making this an extremely attractive location for visitors and short term tenants. Zoning is CPS2 commercial - residential mix used - FAR 2,which allows further development up to 20,000 Sq/Ft. Please ask us for proposed design renderings.

Location

Florida • Miami Beach • 33139 • Multi-family • For Sale

Details

Type:
Residential Income
Parking:
No Data
Year Built:
1937
Lot:
No Data
Heating:
Central
Price/sqft:
No Data
Cooling:
Central Air
HOA:
No Data

Valuation

Our model vs. what's actually selling nearby.
Estimate
$2,450,000
$663K – $4.8M
Confidence Low
List vs. estimate
$3.1M above estimate
List $5,600,000 · +128.6%
Our model says this listing is priced above recent comparable activity. Room to negotiate.
Based on
5 MLS comparables
+ 30 public-records sales within 0.5 mi
Median actual sale: $675K
Median of recent comparable listings. Sold comps use closing price, active listings use list price.

Highlights

Annual tax
$61,192
2025
Parking
9 spaces
All facts and features

  • Flooring

    • Other

    Heating

    • Central

    Cooling

    • Central Air

  • Other Property Information

    • Parcel Number: 02-42-03-009-7780

    • Zoning: 6503

  • Type and style

    • Property Type: Residential Income

    • Property Sub Type: Multi Family

  • Other financial information

    • Annual tax amount: $61,192

  • Source details

    • MLS ID: A12094992

    Other facts

    • Construction Materials: Concrete Block Construction

    • Lot Features: Less Than 1/4 Acre Lot

    • Subdivision Name: OCEAN BEACH ADDN NO 3

Private inquiry
Talk to the advisor on this listing.
Floor plans, HOA docs, off-market comparables, scheduling a private showing — one message, direct to the local specialist.

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Market around this address

Live counts in the same area.
View all
This zip
33139
1,056
median $550K
Active
Same city
Miami Beach
2,563
median $642K
Active
Same type
Multi-family
52
median $1.7M
Active
Similar price
$3.9M – $7.3M
169
median $5.0M
Active

The multiple listing information is provided by the Miami Association of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Miami Association of REALTORS®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: The Corcoran Group