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$2,390,000

  • For Sale
  • Active
  • Apartment
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Exceptional Turnkey Investment Opportunity in Miami Beach Fully leased 8-unit multifamily property offering strong income and long-term upside. The building comprises 4 studios and 4 1BD/1BA units, all well-maintained. Property highlights include: impact windows throughout, split A/C units in every apartment, full kitchens and updated bathrooms, and upgraded electrical and plumbing systems. Succesffully Completed 40-years certification. The property offers a compelling opportunity to optimize future rent in one of Miami Beach's most sought-after neighborhoods. Highly desirable Normandy Isles neighborhood, minutes to the beach, public transportation, shops, restaurants, and major Miami destinations. High rental demand and low vacancy area.The neighborhood is transitioning from a somewhat quiet into a vibrant, upscale, and highly desirable upcoming luxury community

Full Property Details for 7124 Bay Dr

General

  • Price: $2,390,000
  • Taxes: $28,380 (2024)
  • Status: Active
  • Type: Apartment
  • Source: Greater_Miami
  • MLS ID: A11924424
  • Updated: 1/7/2026
  • Added to Site: 45 day(s) ago

Business

  • Business Type: Apartments, Residential-Multi-Family

Rental Information

  • Approvals: Approved
  • Lease/Rent Term: 1 To 3 Year Lease

Interior

  • Flooring: Other, Tile, Wood

Additional Information

  • Security/Safety: Smoke Detector(s), Security System

Location

  • County: Miami-Dade County
  • Building Name: 7124 BAY DRIVE

Community

  • Units Assoc/Comm: 8

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Other
  • Heating Type: Other

Utilities

  • Electric Available: Yes
  • Sewer: Other
  • Water: Public

Structural Information

  • # Buildings: 7124
  • Structure Type: Free Standing
  • Detached/Attached: Detached
  • Construction: CBS Construction
  • Roof: Tile Roof
  • Windows: Clear Impact Glass
  • Stories/Levels: 2
  • Building Size: 4732
  • Current Bldg. Use: Income Non-Waterfront
  • Year Built: 1940

Unit Information

  • Units in Complex: 8

Lot Features

  • Lot Size (Sq. Ft.): 5,250
  • Zoning: 4800

Financial Considerations

  • Insurance Fee: $9,000
  • Operating Expenses: $50,000
  • Tax Amount: $28,380
  • Tax Year: 2024
  • Terms: All Cash, Conventional/Refinance, Cryptocurrency
  • Tenant Pays: A/C & Heating Maintenance, Electricity

Disclosures and Reports

  • Ownership: Corporation
  • Special Conditions: Sale
  • Documents Avail.: Aerial Photo(S), Deed, Financial Statement, Inventory, Copy Of Lease(S), Owner Managed, Photos, Rent Rolls
  • Legal Description: OCEAN SIDE OF ISLE OF NORMANDY PB 25-60 LOT 5 LESS S50FT BLK 3 LOT SIZE 63.330 X 75 OR 23582-2898 07 2005 2 (2) COC 26296-4755 03 2008 2
  • Inclusions: Building & Land, Equipment, Leases, Signs Included
  • Property ID: 02-32-10-013-0320

Listed by One Sotheby's International Realty

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— 7124 Bay Dr —

  • One Sotheby's International Realty

  • One Sotheby's International Realty

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 7124 Bay Dr

School District:Dade County School District
NameGradesDistance
Treasure Island Elementary School
7540 East Treasure Drive, North Bay Village, FL 33141
PK-51.3 mi
Nautilus Middle School
4301 N Michigan Ave, Miami Beach, FL 33140
6-82.9 mi
Miami Beach Senior High School
2231 Prairie Avenue, Miami Beach, FL 33139
9-124 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 7124 Bay Dr Get Price Alerts and Save Property

Date
Details
Price
Change
Source
12/03/2025
Listed
$2,390,000
35.41%
MLS
6/25/2024
Sold
$1,765,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 7124 Bay Dr

Year
Property Taxes
Change
Tax Assessment
Change
2024
$28,380
12%
$1,575,227
17%
2023
$25,341
44%
$1,341,028
13%
2022
$17,568
-10%
$1,185,546
8%
2021
$19,627
—
$1,095,296
20%
2021
$19,627
17%
$910,683
5%
2019
$16,753
5%
$864,538
3%
2018
$15,995
10%
$842,824
10%
2017
$14,591
-2%
$766,204
—
2016
$14,883
-2%
$766,204
—
2015
$15,178
44%
$766,102
48%
2014
$10,506
8%
$517,092
8%
2013
$9,719
—
$477,892
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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NMLS#: 1598647

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7124 Bay Dr, Miami Beach, FL 33141 (MLS# A11924424) is a Apartment property. 7124 Bay Dr is currently listed for $2,390,000 and was received on December 03, 2025. Want to learn more about 7124 Bay Dr? Do you have questions about finding other Apartment real estate for sale in Miami Beach? You can browse all Miami Beach real estate or contact a Coldwell Banker agent to request more information.

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