Multifamily in Miami, FL, 515-519 NE 83rd St
Description
BEST ZONING IN EL PORTAL – ZONE 5/URBAN CENTER – ALLOWS 150 UNITS/ACRE, 80% LOT COVERAGE, 6-8 STORIES, AND AS LITTLE AS 1/2 PARKING SPACE PER UNIT!
BUILD 94 UNITS WITH SURFACE PARKING, WITH FLEXIBLE SHORT/LONG TERM LEASING OPTIONS.
Just west of Biscayne Blvd, in close proximity to the upcoming BRIGHTLINE Train Station, & abutting a new 15 acre mega-development site, this property offers very liberal zoning that can generate both stable long-term cashflow and lucrative short-term income.
Office and pure hotel use (188 keys) also allowed. Currently 14 legal units on the site, with a majority of month-to-month tenants, grossing about ~$230,000/yr – collect income while you finalize your development plans.
Property Recertification completed in December 2021.
HIGHLIGHTS
- Number Of Buildings: 3
- Buyer Agency Compensation: 2%
- Construction Materials: Concrete Block Construction
Showing Instructions:
Appointment Only,Call Listing Agent,See Broker Remarks
Address
Overview
- Property ID 2556
- Price $5,750,000
- Property Type Multifamily
- Property status For sale
- Year Built 1963
- Size 8,130 SqFt
- Number of parkings 18
- Units 94
- Floors 2
- NOI $230,000
Features
Contact
