Wynwood Norte Covered Land Play Opportunity 255 NW 32nd St 3 Unit Apartment Building $1,900,000 ($633,333/Unit) Miami, FL 33127

DWNTWN Realty Advisors has been retained exclusively by ownership to market for sale 255 NW 32nd Street, Miami FL 33127. The subject property consists of two separate structures sitting on a 10,000 SF lot; a duplex with 3 bedrooms and 1 bathroom each on both the top and bottom floors, as well as an ancillary unit with 3 bedrooms and 2 bathrooms. All units are around 900 SF each. The property is currently 100% occupied with rents at $1,995 per month and a total gross income of $71,820. Rents are on a month-to-month basis and are determined to be under-market. The property is best seen as a covered land play, offering an investor the opportunity to ultimately take advantage of the Wynwood Norte NRD-2 zoning overlay for low-intensity infill development. The site carries an increased density of 150 d/U per acre, allowing for approximately 33 units.
Seller financing at 5% over 3 years