The subject property consists of two separate structures sitting on a 10,000 SF lot; a duplex with 3 bedrooms and 1 bathroom each on both the top and bottom floors, as well as an ancillary unit with 3 bedrooms and 2 bathrooms. All units are around 900 SF each. The property is currently 100% occupied with rents at $1,795 per month and a total gross income of $65,000. Rents are on a month-to-month basis and are determined to be under-market. The property is best seen as a covered land play, offering an investor the opportunity to ultimately take advantage of the Wynwood Norte NRD-2 zoning overlay for low-intensity infill development. The site carries an increased density of 150 d/U per acre, allowing for approximately 33 units.
MLS# | A11404919 |
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Listing Type | For Sale |
Style | Mixed Use |
Sub-Type | Resale |
Status | Active |
Year | 1938 |
Days On Site | 459 |
Listing Provided By | Dwntwn Realty Advisors LLC | Rayza Perez |
SQ Feet | 2,280 |
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Zoning | 3900 |
Acreage | 10000.00 |
State | FL |
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County | Miami Dade County |
City | Miami |
Zip Code | 33127 |
Area | 31 |
Listing VS Median (in 33127) | |
Price: $2,490,000 low | high Med: $460,000 SqFt: 2,280 low | high Med: 1,284 $ / SqFt: $1,092 low | high Med: $358 On Site: 459 low | high Med: 350.000000 |