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1029 94th St, Bay Harbor Islands, FL 33154
Offering:
For Sale
Location:
Bay Harbor Islands, FL 33154
Status:
Active
$6,250,000
Details
Year built:
1951
Lot size:
11,250 sq ft
Levels:
Two
Stories:
2
Days on market:
14
Type:
Multi-family
MLS ID
A12065320
Virtual tour:
Listed by:
MSP Group, LLC (MSPG01)
Listing agent:
Demosthenes Mekras PA (0704134)
Features
Description
Harbor Lofts, located at 1029 94th Street, is a 12-unit multifamily investment opportunity ideally situated in Bay Harbor Islands, one of Miami-Dade County’s most supply-constrained submarkets. Constructed in 1951 and substantially renovated, inside and out in recent years, the property is situated on an 11,250 SF (0.26-acre) lot and comprises 8,230 SF of net rentable living space across two stories.
The unit mix consists of eleven (11) one-bedroom/one-bathroom units averaging approximately 680 SF, currently achieving average in-place rents of $2,091 per month, and one (1) two-bedroom/one-bathroom unit averaging approximately 750 SF, currently achieving $2,300 per month. Monthly rent at the property is inclusive of water and trash, with tenants responsible for their own gas and electricity.
The property is zoned RM-2 under the Town of Bay Harbor Islands zoning code, which permits multifamily density of up to 34 dwelling units per acre as of right and up to 60 units per acre with bonuses. The existing rent roll positions the asset for a durable cash-flowing hold, while preserving long-term optionality for an investor to pursue increased density through the appropriate entitlement processes.
Price history
$6,250,000 → $6,250,000
· 1 price changes
Location
1029 94th StBay Harbor Islands, FL 33154
MLS information
Last updated Aug 5, 2026
Deemed reliable but not guaranteed.
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