235 78th St – 25-Unit Multifamily

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Home Multi-family25 Unit Short-Term Rental /Lodging enabled Architectural Masterpiece in North Beach/

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25 Unit Short-Term Rental /Lodging enabled Architectural Masterpiece in North Beach/

235 78th Street, Miami Beach, Florida, 33141

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For Sale

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Open House

Fausto Financial Available

$8,500,000

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Property TypeMulti-family17914 ft²Area Size16,500 ft²Land Area

Share on:

WhatsApp

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Facebook

X

LinkedIn

Email

Featured

For Sale

Hot Offer

Open House

Fausto Financial Available

25 Unit Short-Term Rental /Lodging enabled Architectural Masterpiece in North Beach/

235 78th Street, Miami Beach, Florida, 33141

$8,500,000

Details

Updated on October 1, 2026 at 3:58 pm

Price

$8,500,000

Property Size

17914 ft²

Land Area

16,500 ft²

Year Built

1951

Property Type

Multi-family

Property Status

For Sale

Description

The Historic Jerrico Apartments, a 25 Unit Short-Term Rental/Lodging enabled and Architectural Masterpiece in North Beach. This MiMo jewel by renowned architect Tony Sherman has twenty 1-bedroom units, most with a flex space ample enough for an extra bedroom and 6 studios, a lush common area central courtyard, and an underutilized preexisting rooftop deck with views of the surrounding scene. Miami Beach strictly regulates short-term rentals, but this site provides one of the exceedingly rare opportunities to operate a fully legal and zoned short-term rental, AirBNB, for lodging use.

Several significant capital improvements have been recently completed, including replacing all windows and doors with high-end impact glass, new A/Cs, structural railings, and main electrical panel, all fully permitted. The North Beach CRA is offering various initiatives and grants to facilitate property improvements, and the City of Miami Beach is offering tax incentives for historic preservation as well. North Beach is a hidden gem surrounded by upscale Bal Harbor to the north, North Bay Village to the west and world famous South Beach to the south. It has all the amenities of the beach, stunning architecture, and excitement, while retaining an element of affordability.

Although the area is still far from its full potential, it has already attracted big-name illustrious developers such as Optimum Development USA with the recently completed Monaco Yacht Club and Residence, Galbut, Cohen, Lefferts, Shcer, Finvarb, Mehrabi, and Blavatnik, with 600 condos, 100+ apartments, and retail in progress. Get in now while values are still manageable and before they reach dizzying heights. Short-Term Rental operation, without any significant renovations, can yield over $900k/yr NOI, while a more intensive lux hotel re-positioning can easily yield double that figure.

Tony Saladrigas of Fausto Commercial represents this offering. Please contact us for additional information or to arrange a tour.