Development Multifamily in Miami, FL

$780,000
For sale

6709

Property ID

2,831 SqFt

Size

Description

ElevenTrust is pleased to offer for Sale 840 NW 44th Ave (the “Property”) in Miami, FL. A Multifamily property located in the heart of Miami.

The value estimate herein gives no consideration to the existing building improvements, a multifamily property.
If the improvements were considered, the cost to demolish the structure, as well as any offsetting income that could potentially be derived from the continued operation of the multifamily property while plans and permits for the new development are secured, would be considered and could affect the value estimate.

The value estimated herein assumes the land is vacant and available to be developed to its highest and best use.

The proposed development property consists of 12 units of 2 bedroom-1bath apartments at approximately 650 sf and 2 units 1 bedroom – 1 bath apartments at approximately 449 sf, totaling 9,516 square feet of living space.

Rents in the building will range from $1,250 to $1,500 per month on an annual basis with a projected $201,000 Anual Gross Income.

Each unit is conveniently accessible through a private hall entrance and features a common green space for residents and guests to enjoy.

This property is located half a block away from NW 7th St, a main retail center and close to MIA and enjoys an impressive Walk Score of 84 (very walkable).

This investment property allows for easy commuting with its close proximity to Brickell, Downtown, Coconut Grove, Coral Gables, and Miami International Airport

HIGHLIGHTS

  • 14-Unit Development Proposal prepared and included in this opportunity
  • Centrally located in thriving Rental Market

For More Development Opportunities Options

Address

Address: 840 NW 44 Avenue, Miami, FL
  • Country: United States
  • Province / State: Florida
  • City / Town: Miami
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  • Property ID 6709
  • Price $780,000
  • Property Type Development opportunities, Multifamily
  • Property status For sale
  • Size 2,831 SqFt
  • Zoning T5-Re
  • Lot Area 7,140 sqft
  • Price Per Sqft $300.25
  • Development Type Multifamily
  • NOI $44,725
  • Proposed Units 14
  • Year Built/Building Addition 1956/1977
  • Price Per Unit $60,714
  • Exterior Wood & Chain Link Fence
  • Patio Concrete Slab

Contact

Zena Bardawell Farah

Property Agent
+1 305-967-7200
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