Josh Flagg is looking to score a massive return on a Miami Beach investment ... 'cause TMZ has learned the "Million Dollar Listing Los Angeles" alum has put a luxury North Bay Road residence on the market for nearly $10 Million after acquiring it in 2023 for $4.7 Million.

Flagg of Flagg Family Capital partnered with Carolwood principals Adam Rubin and Andrew Shanfeld on the project, transforming the property into a high-end showcase in one of Miami Beach's most exclusive neighborhoods.

The gated Mediterranean-style estate offers 4 bedrooms, 5 bathrooms, and 4,062 square feet of living space, all set on a lushly landscaped lot designed for privacy and indoor-outdoor entertaining. Amenities include a detached pool pavilion with a sauna, cold plunge, outdoor shower, and powder room.

The property sits in one of Miami Beach's most exclusive enclaves, surrounded by some of South Florida's priciest real estate. Soccer superstar David Beckham is among the high-profile neighbors in the area.

The renovation was led by New York-based BUILTIN Studio and designer Gary Eisner, who preserved the home's classic architectural character while introducing contemporary luxury finishes throughout.

Flagg tells TMZ ... they spared no expense during the renovation, quipping ... "If something cost $1,000, we spent $2,000. By the end, we weren't building a house ... we were personally stimulating the South Florida economy."

Highlights include vaulted ceilings, custom steel windows and doors, a white oak chef's kitchen outfitted with Sub-Zero appliances, and spa-inspired bathrooms featuring premium stonework and custom millwork.

Jordan Karp holds the listing.

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