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$ 2,590,000
Est. payment /mo
Price Dropped by $100K
8270 NE 1st Pl Miami, FL 33138
3,271 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,271 sqft
Price per Sqft $791
MLS Listing ID A11917999
HOA Y/N No
Year Built 1941
Annual Tax Amount $14,371
Lot Size 0.293 Acres
Property Sub-Type Multi Family
Property Description
Covered land opportunity in the heart of Miami's rapidly evolving Little River neighborhood. The property is zoned T5-O, allowing for a range of mixed-use residential and commercial development possibilities within Miami's urban core. By-right, the zoning allows for a mixed-use or multifamily project of up to 19 units and 5 stories before bonuses with office and retail components optional, and the site located within an Opportunity Zone and with Live Local Eligibility which would allow for up to 292 units and 8-12 stories. Situated right on the cusp of the T6-8-O district, there could also be an up-zoning play based on recent precedent and direct proximity to the boundary.
The site is currently improved with a fully renovated five-unit compound (four multifamily units and one single-family residence) providing the potential for interim income while development plans are pursued. The majority of the property is currently being rented as short-term rentals and thrives in an AirBnB model but would be just a suitable for traditional month-to-month or annual rentals, as well as rented on a master lease to a commercial use such as a school, artist campus, health and wellness facility, etc.
The site is currently improved with a fully renovated five-unit compound (four multifamily units and one single-family residence) providing the potential for interim income while development plans are pursued. The majority of the property is currently being rented as short-term rentals and thrives in an AirBnB model but would be just a suitable for traditional month-to-month or annual rentals, as well as rented on a master lease to a commercial use such as a school, artist campus, health and wellness facility, etc.
Location
State FL
County Miami-dade
Area 31
Exterior
Private Pool Yes
Others
Tax ID 01-31-12-008-0410
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11917999
Listed by The Alpha Commercial Advisors LLC
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