Property description of Condominium - Royal South Beach Condo

Offering this 270 sq. Ft. Condo-studio with no rental restrictions. A perfect vacation home, or income-producing property with approved nightly-rentals that can be self-managed. Optional hotel rental program is available. Hoa fee is $836 monthly, inclusive of all utilities, insurances and 24/7 front desk concierge services. Property is in the royal south beach condo-hotel. Main entrance at pennsylvania ave & 8th street (west), facing washington ave (east side). Property built in 1936 with 42 residential units (4 1bed/1bath & 38 studios), and 4 ground-level commercial/retail spaces operating as a restaurant-bar and convenience store. Elevator to access 2nd and 3rd floors (residential units), and a private sundeck on second floor. This is a spectacular location, at the heart of south beach's entertainment and hotel district within a short walk to publicly accessed beaches along renowned ocean drive. This offering is for unit # 103, on the second floor, priced at $200,000. However, i am offering an additional 17 units as an 18-unit package deal for $3. 6m. Additionally, i am offering the 4 commercial spaces on ground-level at an additional $2. 8m. There is flexibility to purchase this single unit, a batch of several units, or the entire package comprised of 18 condo units and the 4 commercial spaces (all fully rented). The building passed its 40-yr recertification. The 50-yr recertification process is pending with the engineering report and cost estimate already in place.

Property Features