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Monica Cataluña, CCIM

monica@koresrealty.com +1(954) 812-1831

$2,500,000

Est. payment - /mo

4,918 SqFt

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Key Details

Property Type Commercial

Sub Type Hotel/Motel

Listing Status Active

Purchase Type For Sale

Square Footage 4,918 sqft

Price per Sqft $508

MLS Listing ID A11937788

HOA Fees $650/mo

HOA Y/N Yes

Year Built 1980

Lot Size 7,400 Sqft

Property Sub-Type Hotel/Motel

Property Description

7 apartments of the 11 total are available for purchase in this beautiful 4 story condominium located directly on the sand. The 7 (full kitchens and fully furnished) were purchased as a family retreat 16 years ago. You must come and experience the tranquility of the property to appreciate what it has to offer – Spectacular views, heated pool, private beach area, convenient parking, elevator, 2 laundry rooms… Per the recently completed Structural Integrity Reserve Study the property is well maintained plus it has a new roof, pool heater / pump and standpipe fire system. The condo association monthly fee is only $650 per apartment, and there is $20,000 in the reserve fund. The other 4 owners are out of state and seldom use their apartment. Per the Association's condo attorney, owning 51% of the apartments provides the opportunity to replace board members and thereby have partial control of the Association. And when an owner decides to sell, you have the first right of refusal to purchase their apartment. In addition to being a family retreat, the apartments have tremendous potential to be positioned as an upscale boutique hotel. The asking price per apartment for this direct oceanfront gem is less than many dry lot properties located on the west side of A1A! Ok to drive by but listing agent must schedule and accompany site visits.

Location

State FL

County Broward

Area 3113

Direction Atlantic Blvd or 14th Street Causeway to N Ocean Blvd. East on NE 10th Street to the ocean. Property on the left. Across from Related's luxury oceanfront condominium, Casamar.

Interior

Flooring Concrete

Exterior

Waterfront Description Ocean Front

Roof Type Other

Total Parking Spaces 7

Private Pool Yes

Building

Story 4

Structure Type Block

Others

Tax ID 484329BA0070

Security Features Other,Smoke Detector(s)

Acceptable Financing Cash

Listing Terms Cash

Virtual Tour https://www.propertypanorama.com/instaview/mia/A11937788

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Miami Association of Realtors (SEFMIAMI MLS)

Listed by Coldwell Banker Realty

Nearby Locations

"We recognize that real estate ventures involve more than just transactions; they’re intricate puzzles that demand strategic thinking and a keen understanding of the numbers. With years of experience in the industry, we bring a wealth of knowledge and expertise to the table, ensuring that every client receives tailored solutions to meet their unique needs."

+1(954) 812-1831

monica@koresrealty.com

2665 Executive Park Drive, Suite 1 Weston, FL, 33331

3401 NE 10th St #1, 3, 7, 8, 9, 11, 12 Pompano Beach, FL 33062

Monica Cataluña, CCIM

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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3401 NE 10th St #1,3,7,8,9,11,12