Spacious renovated studio with a balcony in a popular South Beach condo-hotel. Fully licensed for short-term Airbnb rentals. Features a rooftop pool and the famous Palace Bar on the ground floor. Fully renovated in 2023 with new flooring, paint, furniture, doors, and a NEW AC unit. Sold furnished with proven 9 - years rental history. 2024 gross income - $80, 000 and 80% occupancy through the year. No hotel programowners can rent on their own or through any third-party manager. HOA includes all utilities: electricity, water, sewer, internet, TV, and front desk service. Option to continue with the current professional management or choose your own. Strong bookings and high ROI. Turnkey investment with income potential from day one.
Property Features
Bedrooms
Bathrooms
- Total Bathrooms: 1
- Full Bathrooms: 1
Interior Features
Appliances
- Dishwasher
- ElectricRange
- Microwave
- Refrigerator
Heating and Cooling
- Cooling Features: CentralAir
Exterior and Lot Features
- Balcony
- Patio And Porch Features: Balcony, Open
Pool and Spa
- Pool Features: Association
Homeowners Association
- Association: Yes
- Association Amenities: Cabana, Pool, Elevators
- Association Fee: 1730
- Association Fee Frequency: Monthly
- Association Fee Includes: Amenities, CommonAreas, CableTv, Electricity, HotWater, Internet, PestControl, Pools, Sewer, Security, Trash, Water
- Calculated Total Monthly Association Fees: 1730
- Pets Allowed: No
Other Property Info
- Annual Tax Amount: 5381
- Source Listing Status: Active
- County: Miami-Dade
- Tax Year: 2024
- Restrictions: DailyRentalsAllowed, NoRestrictions, OkayToLease1stYear
- Source Property Type: Residential
- Area: 42
- Property Subtype: condo
- Source Neighborhood: THE STRAND ON OCEAN DRIVE
- Parcel Number: 02-42-03-302-0050
- Postal City: Miami Beach
- Postal Code Plus 4: 5014
- Public Survey Range: 42
- Public Survey Section: 3
- Public Survey Township: 2
- Subdivision: THE STRAND ON OCEAN DRIVE
- Property Subtype: Condominium
- Source System Name: C2C
Building and Construction
- Total Square Feet Living: 516
- Year Built: 1964
- Building Area Total: 516
- Entry Level: 2
- Entry Location: 2
- Property Age: 61
- Property Attached: Yes
- Building Total Stories: 4
- Year Built Details: Condo-Hotel
Home Features
- Security Features: KeyCardEntry, SmokeDetectors