Description
INVESTORS: UPSIDE GALORE! Welcome to Saville Palms: substantially renovated multi-family compound with 8 apartments (3,796 SF leasable space) in 2 stand-alone buildings on a 7,200 SF lot with Miami 21 T5-L zoning, allowing for short-term rentals, hotel, live-work, food service, general commercial, and recreation.
As a vacation/short-term rental, this property could generate $250K+ gross income with ~$175K+ NOI, for a cap-rate ~9%! Bonus: property comes with valuable Palm Grove Historic District TDR entitlements.
All in a non-flood zone, steps from all the hip MiMo District restaurants and shops, just a few blocks from the upcoming multi-billion dollar Magic City Innovation District, and minutes to Design District, Mid-Town, Downtown and The Beaches.
Opportunity awaits!
HIGHLIGHTS
- Construction Materials: CBS Construction
- Buyer Agency Compensation: 3%
- Showing Instructions: Call Listing Agent, Showing Assist
Address
Address:
570 NE 68th St, Miami, FL
- Country: United States
- Province / State: Florida
- City / Town: Miami
- Property ID 4660
- Price $2,850,000
- Property Type Hotel
- Property status For sale
- Year Built 1937
- Building Size 4,554 sqft
Contact
