- For sale
Colliers is pleased to present the opportunity to acquire Biscayne Point Portfolio, a unique 19-unit multifamily portfolio featuring two boutique apartment buildings. The properties are positioned two blocks away from each other in Biscayne Point near the North Beach neighborhood of Miami Beach. Biscayne Point is an exclusively sought-after neighborhood enclave minutes away from Bal Harbour shops as well as Miami’s most popular beaches, resorts, and restaurants.
Biscayne Point Portfolio is an ideal investment for investors looking for a light value-add opportunity with significant upside in a strong rental market. The portfolio consists of 19 units spread across two properties with three additional non-conforming units, for a total of 22 operating units. The properties feature a mix of one-bedroom and two-bedroom units as well as one studio. Potential buyers will have the ability to raise rents by 40 percent due to rents being below market. Both properties are four-story Class B+ boutique apartment buildings with surface parking, central AC, and elevators.
Biscayne Point is a highly in-demand neighborhood due to its resort-like ambiance, gated entry, and 24-hour security. The neighborhood offers two park options including Stillwater Park and Crespi Park, providing residents ample green space for outdoor activities. Other nearby amenities include the Indian Creek Country Club, Normandy Shores Golf Club, and the luxury outdoor shopping center known as Bal Harbour Shops. Due to its prime location and resort-style living, Biscayne Point is ideal for affluent executives, families and retirees alike.