B-1 Multifamily Investment Bay Harbor Island (Completed)
Multifamily Investment & Development – Completed
Project Type: Buy & Hold + Redevelopment Exit (Multifamily)
Location: Bay Harbor Islands, Miami-Dade County, Florida
Strategy: Acquire Fourplex – Operate as Rental – Entitle & Redevelop into 15-Unit Multifamily – Sell
Lot Size: 11,250 sq. ft.
Project Duration: 24 months
Exit Strategy: Asset Sale Post-Entitlement & Design Approval
Financial Summary:
| Category | Amount (USD) |
|---|---|
| Acquisition Price (Fourplex) | $1,450,000 |
| Holding/Renovation Costs | $210,000 |
| Entitlement & Planning | $165,000 |
| Total Investment | $1,825,000 |
| Gross Rental Income (18 mos) | $162,000 |
| Sale Price (Entitled) | $2,610,000 |
| Net Profit (after costs) | $550,000 |
| Total ROI | 30.1% |
| Project Duration | 24 months (cash flow + entitlement + sale) |
Property Description:
This project began with the off-market acquisition of a well-located fourplex in Bay Harbor Islands, a fast-appreciating, boutique multifamily submarket just steps from Bal Harbour Shops and the beach. The strategy included:
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Immediate rental income from the existing four units, generating positive cash flow
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Simultaneous architectural planning, zoning research, and development entitlement process
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Approved redevelopment plans for a 15-unit luxury multifamily building (mix of 1BR, 2BR, and 3BR with balconies, parking, and amenities)
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Sold entitled property to a multifamily builder/operator ready for construction
Strategic Takeaway:
This project showcased the power of a hybrid rental + development strategy in high-demand, supply-constrained neighborhoods. Through efficient planning and market timing, the asset delivered consistent cash flow, strong appreciation, and a 30% ROI at exit — reinforcing the viability of entitlement-based value creation in South Florida’s multifamily sector.
Living Room Lighting
RESIDENCES
Ownership at West Eleventh comes with many advantages, but none more beneficial than our unique hosting on Airbnb. With the option to host 365 days on Airbnb, West Eleventh is the first centrally managed residential tower to offer owners this distinctive luxury.
With fully centralized management, the property has been specifically optimized for effortless hosting on Airbnb, giving owners living flexibility while providing peace of mind. Our expertly trained concierge will assist you in creating your personalized listing, from providing professional photography of the building to helping you craft the perfect description.
WEST ELEVENTH not only offers owners a fully furnished luxury home, but the option to seamlessly host on Airbnb.
West Eleventh Miami Residences
LIFESTYLE Amenities
Take living to a new direction never before imagined. West Eleventh takes every detail into account and every convenience is considered to offer residents a tailored and unique experience.
This 44-story luxury tower, was designed by internationally renowned architecture firm Sieger Suarez Architects and infused with artistic attention throughout. From the high design lobby and state-of-the-art fitness and wellness center to the 20,000 square foot amenity level with are sort style pool and private lounges.
Take living to a new direction never before imagined. West Eleventh takes every detail into account and every convenience is considered to offer residents a tailored and unique experience
West Eleventh Amenities
OTHER Amenities include
- Flooring selections included with specifications recommended by Cotofana Designs
- All residences come equipped with a contemporary lighting package, including recessed lighting, dimmers, and lighting control
- Pre-wired for high-speed communications, multiple telephone lines, and cables
Gallery
LOCATION
Your home should feel like the center of the world. Located in Miami’s bustling District 11, The West Eleventh Residences have breathtaking views of the Miami skyline and Biscayne Bay. This towering building exudes an “on top of the world” feeling while still providing a welcoming home-like undertone within each residence. Choose a day of relaxation and let the wellness focused amenities lead you, indulge in an experience of international culinary expertise, or head out and let the night take you on its own adventure. It’s all easy to do when everything is only steps from the building – situated at the heart of the city in District 11, considered one of Miami’s newest and most coveted entertainment destinations.
In the center of it all
Other nearby attractions include:
- E11EVEN® Hotel & Residences
- E11EVEN® Residences Miami Beyond
- Miami World center Featuring 300,000 SF of retail, food and beverage, and entertainment space.
- Adrienne Arsht Center for the Performing Arts
- Pérez Art Museum Miami (PAMM)
- Phillip & Patricia Frost Museum of Science
- Museum Park
- Miami Arena
- Freedom Tower at Miami Dade College
- Port Miami11.Bayside Marketplace
- Miami Dade College – Wolfson Campus
- Bayfront Park
- Olympia Theater
- MiamiCentral Station
- Waldorf Astoria Residences Miami
Center your world
Your home should feel like the center of the world. Located in Miami’s bustling District 11, The West Eleventh Residences have breathtaking views of the Miami skyline and Biscayne Bay. This towering building exudes an “on top of the world” feeling while still providing a welcoming home-like undertone within each residence. Choose a day of relaxation and let the wellness focused amenities lead you, indulge in an experience of international culinary expertise, or head out and let the night take you on its own adventure. It’s all easy to do when everything is only steps from the building – situated at the heart of the city in District 11, considered one of Miami’s newest and most coveted entertainment destinations.
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