BEST WATERFRONT DEAL IN THE HEART OF MIAMI BEACH. Property is on the exclusive gated Allison Island which is close to South Beach and Downtown as well as Bal Harbour and Aventura. The Buyer has the option to keep the current house which has 4 bedrooms, 3 -+ bathrooms and a guest house studio w/ full bath or the Buyer can build a beautiful new home up to 8,000 sq. ft. The lot is 16,200 sq. ft with 75 ft of water frontage and has a new dock, seawall and boat lift. The price includes the current plans to build a new home and renderings of a beautiful home. The Buyer may also retain Seller to build the home per the Plans. House is currently rented through end of July for $17,500 per month.