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 multifamily property with redevelopment potential in Bay Harbor Islands, near Bal Harbour Shops and beaches.

$5,200,000

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MLS #A11731172

Listing Updated: 2026-07-15 18:37:28

Listed By: Miles Goldstein Real Estate

Overview

This income-producing 4-unit short-term rental multifamily property is located in the highly sought-after Bay Harbor Islands area. Positioned directly across from the prestigious LA MARE project, the property offers prime redevelopment potential with zoning that allows for up to 8 luxury condominium residences. It currently generates steady rental income and is an attractive opportunity for investors or boutique developers. The location is just minutes from Bal Harbour Shops, pristine beaches, and top-rated schools, providing convenient access to shopping, dining, and recreational amenities. This property combines steady income with significant upside potential in a high-demand neighborhood.

Property Highlights

• 4-unit short-term rental multifamily, fully operational and income-generating • Zoned for up to 8 luxury condominium residences • Prime location near shopping, dining, and top schools • Strong redevelopment potential for investors or developers

Property Details

City: Bay Harbor Islands

State: FL

Zip Code: 33154

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

Year Built:

Property Type: Commercial Land

Property Sub Type: Income/MultiFamily

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: 546 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 prestigious community known for its upscale residential options and proximity to key South Florida attractions. The neighborhood offers a blend of tranquility and convenience, with easy access to Bal Harbour Shops, renowned beaches, and quality schools. Residents enjoy a coastal lifestyle with a variety of dining, shopping, and recreational options nearby. The area’s reputation for safety and well-maintained properties adds to its desirability among families, professionals, and investors alike.

Walkability & Lifestyle

The property’s location offers excellent walkability to a variety of amenities. Residents can enjoy nearby shopping at Bal Harbour Shops, a selection of dining venues, and quick access to pristine beaches. The neighborhood’s pedestrian-friendly streets and nearby parks encourage an active lifestyle. Daily conveniences such as grocery stores, cafes, and recreational facilities are within easy reach, enhancing the overall living experience.

Things To Do Nearby

Bay Harbor Islands and the surrounding area provide a range of activities including waterfront dining, boating, and beach outings. Residents and visitors can explore cultural attractions, golf courses, and nightlife options nearby. The community’s marina and parks offer outdoor recreation opportunities, while Bal Harbour Shops presents upscale retail and culinary experiences. This vibrant lifestyle supports diverse interests and leisure pursuits.

Nearby Schools

Bay Harbor Islands provides convenient access to several well-regarded schools, making it an attractive location for families. The area’s educational institutions are known for their quality programs and community involvement. Proximity to top-rated schools adds value to residential properties and supports stable demand from buyers prioritizing education. Families benefit from short commutes and easy access to extracurricular activities and community resources.

Why Buyers Like This Area

Buyers appreciate Bay Harbor Islands for its blend of coastal charm, convenience, and upscale living. The neighborhood’s proximity to Miami and Bal Harbour offers access to premier shopping, dining, and entertainment. Its quiet streets, quality schools, and recreational amenities make it suitable for families and professionals. The availability of properties with redevelopment potential attracts investors seeking long-term value in a stable, desirable market.

Investment Potential

This multifamily property in Bay Harbor Islands offers a unique opportunity for investors and developers. Currently generating steady rental income as a 4-unit short-term rental, it also benefits from zoning that allows expansion to 8 luxury condominium units. Its prime location near Bal Harbour Shops and popular beaches enhances its appeal, attracting tenants and buyers seeking convenience and lifestyle amenities. The property’s redevelopment potential aligns well with market demand for upscale residences, making it a versatile asset for those looking 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. Buyers are drawn to the area’s strategic location near Miami and Bal Harbour, as well as its lifestyle offerings. Multifamily properties with redevelopment potential are especially sought after, reflecting a trend toward upscale, boutique condominium projects. The market shows steady interest from both local and international buyers, contributing to sustained value appreciation and competitive pricing.

Rental Income Potential

This property’s current operation as a 4-unit short-term rental generates consistent income, benefiting from Bay Harbor Islands’ popularity with vacationers and seasonal tenants. The location’s proximity to beaches, shopping, and dining supports strong tenant interest year-round. Additionally, the zoning for up to 8 luxury condos offers future flexibility to enhance rental income or reposition the asset for long-term residential use. The property appeals to investors seeking a balance of immediate cash flow and redevelopment upside.