Multifamily – 9,000 SF in Miami, FL – Redevelopment Opportunity in Prime Edgewater Neighborhood
Category: Multifamily
$5,270,000
Location: Miami, FL
Year Built: 1926
Days on Market: 5
Description:
Located in a prime Edgewater neighborhood, next to Biscayne Bay, offers a unique opportunity to redevelop or maintaining these boutiques rental properties. Total lot of 9,000 SF with 10 residential units distributed in 3 stand-alone low-rise buildings, 1 duplex and 2 fourplex. Unit Mix: 2 units of 1 bedroom, 8 units of 2 bedrooms. Convenient zoned T6-36a-L, by right, it can be built up to 30 units or 60 Hotel Rooms, and 151,000 SF, plus an additional 40% more with Public Benefit. Properties are surrounded by several luxury buildings, totaling over 6,000 units.
Adjacent to the bay and Biscayne Boulevard, and just few minutes from Midtown, Wynwood, Design District, A&E District, Downtown and Brickell, these properties are at the center of the best that Miami can offer.
Total lot of 9,000 SF. 10 units in 3 stand-alone low-rise buildings. 2 units of 1 bedroom, 8 units of 2 bedrooms. Income $307,800, NOI $207,276.
Listing Code: 1109544775
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