Exceptional Development Opportunity in Bay Harbor Islands Income-Producing 4-Unit Multifamily with 23,000+ Buildable SF Currently 8 Bedrooms + Dens on each unit and 8 Bathrooms. Ideally located on 94th Street in the heart of Bay Harbor Islands, this 11,250 sq ft, steps from one of the county’s top-rated K–8 schools, world-class shopping, dining, and pristine beaches. Zoned RM-2, the property offers prime redevelopment potential with approximately 23,000 buildable square feet, allowing for up to 14 luxury condominium or townhouse residences. The existing structure is a fully operational 4-unit multifamily generating steady income while offering immediate upside for investors and developers.
Income-producing 4-unit STR multifamily with prime redevelopment potential in Bay Harbor Islands, directly across from the prestigious LA MARE project. This property generates steady rental income and is zoned for an 8-unit luxury condominium development. Situated just minutes from Bal Harbour Shops, pristine beaches, and top-rated schools, this is a rare opportunity for investors or developers looking to maximize value in a high-demand area. Property Highlights: ? 4-unit short-term rental multifamily – Fully operational & income-generating ? Zoning allows for up to 8 luxury condo residences ? Prime location – Steps from shopping, dining, and top schools ? Strong upside potential – Ideal for investors or boutique developers
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Bay Harbor Islands is located in Florida. Bay Harbor Islands, Florida has a population of 5,880. Bay Harbor Islands is more family-centric than the surrounding county with 38.25% of the households containing married families with children. The county average for households married with children is 27.22%.
The median household income in Bay Harbor Islands, Florida is $79,824. The median household income for the surrounding county is $57,815 compared to the national median of $69,021. The median age of people living in Bay Harbor Islands is 36.6 years.
The average high temperature in July is 89.6 degrees, with an average low temperature in January of 59 degrees. The average rainfall is approximately 59.1 inches per year, with 0 inches of snow per year.
