Keystone Manor Condo - Covered Land Play | 2225 NE 123rd St
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Keystone Manor Condo - Covered Land Play 2225 NE 123rd St
31 Unit Apartment Building For Sale North Miami, FL 33181
Investment Highlights
- Assembled condominium building over 80%. Price upon request.
- Located on a 40,000 Sq Ft corner lot in a rapidly developing urban core of North Miami.
- Waterfront building directly adjacent to the recent Related Group purchase that will build luxury condos.
- At the entrance of the causeway to Bay Harbor Islands and Bal Harbor and closed to Biscayne Blvd.
Executive Summary
Assemble Condo Building over 80%. Price upon request.
Truly a prime asset with an incredible waterfront location in the heart of one of South Florida's hottest markets. Located on a 40,000 Sq Ft corner waterfront lot in a rapidly developing urban core of North Miami and at the entrance of the causeway to Bay Harbor Islands and Bal Harbor. This property is directly adjacent to the recent Related Group purchase of a 40,000 Sq Ft waterfront corner lot where, according to a city commission meeting, Related Group will build luxury condos starting at $4.6 Million.
This investment opportunity offers an investor the opportunity to redevelop a great asset with an incredible location. All 31 units are spacious floor plans with both one and two bedrooms, plus convenient efficiencies. The neighborhood is experiencing significant growth and is well positioned to capitalize on residents' desire to be close to Everywhere. Located in North Miami with amazing views of Biscayne Bay and close to US-1, with a high walkability score & access to neighborhood public parks. Residents enjoy a wide retail offer, from Whole Foods to TJ Maxx, including restaurants, coffee shops, gyms, and beauty salons.
In addition, there are other Developments occurring nearby: the city announced a public-private, or P3, that will work to revitalize its nine-acre downtown complex and spur development in surrounding areas; The Museum of Contemporary Art in downtown North Miami will be expanded by 25,000 vertical square feet; there is a 7-acre, mixed-use community planned nearby, The Gardens is North Miami's first major development; 184-acre community Sole Mia. 2500 housing units are planned nearby. Some developers say North Miami will be completely transformed in the next 3 to 5 years. "It will be unrecognizable."
This investment opportunity offers an investor the opportunity to redevelop a great asset with an incredible location. This rental market has become one of the fastest-growing neighborhoods in Miami-Dade County.
Truly a prime asset with an incredible waterfront location in the heart of one of South Florida's hottest markets. Located on a 40,000 Sq Ft corner waterfront lot in a rapidly developing urban core of North Miami and at the entrance of the causeway to Bay Harbor Islands and Bal Harbor. This property is directly adjacent to the recent Related Group purchase of a 40,000 Sq Ft waterfront corner lot where, according to a city commission meeting, Related Group will build luxury condos starting at $4.6 Million.
This investment opportunity offers an investor the opportunity to redevelop a great asset with an incredible location. All 31 units are spacious floor plans with both one and two bedrooms, plus convenient efficiencies. The neighborhood is experiencing significant growth and is well positioned to capitalize on residents' desire to be close to Everywhere. Located in North Miami with amazing views of Biscayne Bay and close to US-1, with a high walkability score & access to neighborhood public parks. Residents enjoy a wide retail offer, from Whole Foods to TJ Maxx, including restaurants, coffee shops, gyms, and beauty salons.
In addition, there are other Developments occurring nearby: the city announced a public-private, or P3, that will work to revitalize its nine-acre downtown complex and spur development in surrounding areas; The Museum of Contemporary Art in downtown North Miami will be expanded by 25,000 vertical square feet; there is a 7-acre, mixed-use community planned nearby, The Gardens is North Miami's first major development; 184-acre community Sole Mia. 2500 housing units are planned nearby. Some developers say North Miami will be completely transformed in the next 3 to 5 years. "It will be unrecognizable."
This investment opportunity offers an investor the opportunity to redevelop a great asset with an incredible location. This rental market has become one of the fastest-growing neighborhoods in Miami-Dade County.
Property Facts
| Sale Type | Investment | Lot Size | 0.92 AC |
| No. Units | 31 | Building Size | 25,515 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1959 |
| Apartment Style | Low Rise | Parking Ratio | 1.21/1,000 SF |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.92 AC |
| Building Size | 25,515 SF |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.21/1,000 SF |
Site Amenities
- Fenced Lot
- Pool
- Dock
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | - | 898 - 1,186 |
| 1+2 | 1 | - | 676 |
| 1+1 | 11 | - | 787 |
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zoning
| Zoning Code | R-4 |
| R-4 |
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Keystone Manor Condo - Covered Land Play | 2225 NE 123rd St
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