$2,400,000 $12,884 est/mo Sourced by Back At You

244 NW 34th St,Miami, FL 33127

Miami FL, 33127

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Description

This 8-unit multifamily building in Miami's trendy Wynwood Norte offers a unique investment chance for $2.4 million. The location boasts vibrant street art, diverse restaurants, and exciting nightlife, with high-end shops and beaches nearby. Recent zoning changes by the city allow for significantly denser development, making the property highly attractive for potential future expansion. Additionally, the building offers immediate returns with a 5.19% cap rate and the potential for even higher returns (6.50%) based on projected rents. Whether you choose to keep the current setup or explore redevelopment opportunities, this property positions you to capitalize on Wynwood Norte's booming cultural and entertainment scene.

Details

MLS#A11546009
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Year1925
Days On Site137
Listing Provided ByFausto Commercial Realty Consultants Inc | Vicente Rodriguez
Buying Commision2%

Features

SQ Feet5,456
Zoning3900
Acreage5000.00
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Miami Board of Realtors®

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Learn More About This Property

StateFL
CountyMiami Dade County
CityMiami
Zip Code33127
Area31
Listing VS Median (in 33127)
Price:
$2,400,000
low | high
Med:
$459,500
100% of Average
SqFt:
5,456
low | high
Med:
1,171
100% of Average
$ / SqFt:
$440
low | high
Med:
$396
59.91878894695% of Average
On Site:
137
low | high
Med:
153.000000
89.542483660131% of Average
Sourced by Back At You
Listing Updated: July 19, 2024 at 12:37:39 PM PDT