Home » Properties » 9950 E Bay Harbor Dr, Bay Harbor Islands FL 33154

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9950 E Bay Harbor Dr, Bay Harbor Islands FL 33154

Income-producing 4-unit STR multifamily with redevelopment potential near Bal Harbour Shops and beaches.

$4,200,000

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MLS #A11745188

Listing Updated: 2026-07-10 12:36:11

Listed By: Miles Goldstein Real Estate

Overview

This residential income property at 9950 E Bay Harbor Dr in Bay Harbor Islands offers a rare opportunity with its four-unit short-term rental multifamily setup. Built in 1952, it is fully operational and generates steady rental income. Zoned for an eight-unit luxury condominium development, it presents significant redevelopment potential for investors or boutique developers. Located just minutes from Bal Harbour Shops, pristine beaches, and top-rated schools, this property combines convenience with strong upside potential in a highly sought-after area.

Property Highlights

4-unit short-term rental multifamily generating income, zoned for 8 luxury condos, prime location near shopping, dining, beaches, and schools.

Property Details

City: Bay Harbor Islands

State: FL

Zip Code: 33154

Address: 9950 E Bay Harbor Dr, Bay Harbor Islands FL 33154

Year Built: 1952

Property Type: Residential Income

Property Sub Type: Quadruplex

Listing Office Name: Miles Goldstein Real Estate

County: Miami-Dade County

Garage Spaces:

Parking Features:

Interior Features:

Exterior Features:

Waterfront: No

Pool: No

HOA Fee: $0

Annual Tax: $40,554

Days On Market: 530 Days

Original Listing Description

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

Property Location

Explore the surrounding area, nearby amenities, and neighborhood access for this property.

9950 E Bay Harbor Dr, Bay Harbor Islands FL 33154

About This Neighborhood

Bay Harbor Islands is a desirable community known for its proximity to Bal Harbour Shops, pristine beaches, and quality schools. The neighborhood offers a blend of residential comfort and convenient access to dining and retail options. Its coastal setting and well-maintained surroundings contribute to a high quality of life for residents and visitors alike.

Walkability & Lifestyle

The property is within walking distance of Bal Harbour Shops, various dining options, and waterfront areas. Residents enjoy easy access to beaches, parks, and entertainment venues, making daily errands and leisure activities convenient and enjoyable.

Things To Do Nearby

Bay Harbor Islands offers a variety of lifestyle activities including waterfront dining, boating, beach outings, and shopping at Bal Harbour Shops. Nearby parks and recreational facilities provide options for outdoor enthusiasts, while cultural attractions and nightlife are accessible within a short drive.

Nearby Schools

Bay Harbor Islands offers access to well-regarded schools within a short distance, providing convenience for families and residents. The area's educational institutions contribute to the neighborhood's appeal, supporting a balanced lifestyle with quality learning opportunities nearby.

Why Buyers Like This Area

Buyers appreciate this area for its blend of coastal living, upscale amenities, and proximity to premier shopping and dining. The property's redevelopment potential adds value for those seeking to customize or expand their investment in a sought-after location with strong community appeal.

Investment Potential

This four-unit short-term rental property offers investors a solid foundation with steady rental income and the potential to redevelop into an eight-unit luxury condominium. Its prime location in Bay Harbor Islands, close to high-end shopping and beaches, enhances its appeal. The zoning flexibility allows for upscale residential development, making it suitable for those seeking to maximize value in a competitive market.

Market Trends

The Bay Harbor Islands real estate market remains attractive due to limited inventory and strong demand for multifamily and luxury developments. Properties with redevelopment potential, like this four-unit income property, garner attention from investors and developers aiming to capitalize on the area's desirability and long-term growth prospects.

Rental Income Potential

This property currently generates steady income through its four short-term rental units. Its location near popular shopping and beach destinations supports consistent tenant interest. The potential to expand to eight luxury condos could further enhance rental appeal, catering to a range of tenants and seasonal visitors.