8221 Crespi Boulevard, Miami Beach, FL 33141

5 bed · 5 bath · 3,104 sqft · Built 1956

Waterfront Miami Beach development potential! Currently a duplex this 2-unit multi-family development offers waterfront views, a private dock with one fixed bridge access to the ocean. The neighborhood is undergoing redevelopment with many new high rise and retail buildings under construction nearby on the 79th causeway and $2 billion investment on nearby Ocean Terrace. Current rent roll below market $7750. Buildable square footage max FAR 1.25, which allows 7,188 sq feet living and five stories high. There is city notice requiring the owner to permit and build a common area laundry which the seller says will cost $25,000 but seller says this is a buyer responsibility to build if they keep the structure, but $0 cost if they knock and build new. Seller will only accept full price offer.

Property type

Duplex

Condition

Resale

Year built

1956

Roof

Barrel,Concrete,Flat,Tile

Subdivision

BISCAYNE BCH SUB

Waterfront

Yes

Waterfront features

Bayfront,IntracoastalAccess,OceanAccess

Private pool

No

Parcel number

0232020082110

Annual tax

$12,481

Miami Beach runs from South Beach Art Deco condos to Mid-Beach high-rises and North Beach single-family pockets. The condo market dwarfs the SFH market here — supply dynamics diverge sharply by submarket.