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$2,390,000
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Property Description
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
Full Property Details for 7124 Bay Dr
General
- Price: $2,390,000
- Taxes: $28,380 (2025)
- Status: Active
- Type: Multi-Family
- Source: Greater_Miami
- MLS ID: A11922740
- Updated: 1/7/2026
- Added to Site: 9 day(s) ago
Rental Information
- Rent Includes: Gardener, Sewer, Trash Collection, Water
Interior
- Interior Features: Stairs
- Flooring: Other, Tile, Wood
Exterior
- Deck/Patio: Patio
Parking
- Total Spaces: 5250
Location
- Area: Ocean Side Sec-isle Of No
- County: Miami-Dade County
- Subdivision: OCEAN SIDE SEC-ISLE OF NO
- Building Name: OCEAN SIDE SEC-ISLE OF NO
Community
- Community Name: Ocean Side Sec-isle Of No
- Units Assoc/Comm: 1
Heating & Cooling
- Air Conditioning: Yes
- Cooling Type: Ceiling Fan(s)
- Heating Type: Central
Utilities
- Sewer: Public Sewer
- Water: Municipal Water
Structural Information
- Structure Type: Quadruplex, Fourplex
- Detached/Attached: Detached
- Construction: CBS Construction
- Roof: Shingle
- Doors: High Impact Doors
- Stories/Levels: 2
- Building Size: 4732
- Square Feet: 4,732
- Living Area: 4,732 Sq. Ft.
- Year Built: 1940
Unit Information
- Units in Complex: 1
Lot Features
- Lot Features: Less Than 1/4 Acre Lot
- Zoning: 4800
Financial Considerations
- Price Per Sq. Ft.: $505.07
- Tax Amount: $28,380
- Tax Year: 2025
- Terms: All Cash, Conventional, Cryptocurrency, FHA-Va Approved
Disclosures and Reports
- Documents Avail.: Deposit - Last Months Rent, Deposit - Security, Equipment Lists, Copy Of Lease(S), Other Available Information, Rent Rolls, Existing Survey
- 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
- Property ID: 02-32-10-013-0320
Listed by One Sotheby's International Realty
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Schools
Schools serving 7124 Bay Dr
School District:Dade County School District
| Name | Grades | Distance |
|---|---|---|
Treasure Island Elementary School 7540 East Treasure Drive, North Bay Village, FL 33141 | PK-5 | 1.3 mi |
Nautilus Middle School 4301 N Michigan Ave, Miami Beach, FL 33140 | 6-8 | 2.9 mi |
Miami Beach Senior High School 2231 Prairie Avenue, Miami Beach, FL 33139 | 9-12 | 4 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
Date
Details
Price
Change
Source
1/07/2026
Listed
$2,390,000
35.41%
MLS
6/25/2024
Sold
$1,765,000
—
Public Record
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
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
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 7124 Bay Dr
7124 Bay Dr, Miami Beach, FL 33141 (MLS# A11922740) is a Multi-Family property with 8 units containing 0 bedrooms and 0 full bathrooms. 7124 Bay Dr is currently listed for $2,390,000 and was received on January 07, 2026. Want to learn more about 7124 Bay Dr? Do you have questions about finding other Multi-Family 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.

