DEVELOPERS DREAM!!! Prime land in the heart of Shenandoah/Silver Bluff a few minutes drive to Coconut Grove on 32nd Ct. and US1. Lot is zoned multi-family, T3O, up to 9 units and sits on just under 7000 sf of land, larger than most lots on the market. Build two twin homes that are selling for $1.2 million each, which already exist on the same block and throughout entire area, or fix existing structure and earn 5% CAP RATE immediately. Additionally, add dwellings to the lot and convert it into a tripex or fourplex and CAP RATE is up to 8%. At a bargain price of $697,900 still leaves plenty of margin once development/renovation is completed. This will not last so submit offers asap. Seller may consider some sort of owners finance under certain circumstances with a minimum of 50% downpayment.
Courtesy of: Beachfront Realty Inc MIAMI Association of REALTORS® is not responsible for the accuracy of the information listed above. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program and the South East Florida Regional MLS and is provided here for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than the office owning this website are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Data provided is deemed reliable but not guaranteed. Copyright MIAMI Association of REALTORS®, MLS All rights reserved. Updated: 19th January, 2022 10:31 PM
The #1 Real Estate team in South Florida, In your Inbox.
Get the latest from the Signature luxury team - experts you can put your faith in.