255 NW 32nd St - Apartments FOR SALE


Miami, FL 33127- Wynwood
$1,900,000 USD
310-710-5080
255 NW 32nd St, Miami, FL for Sale
$1,900,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

255 NW 32nd St
Miami, FL 33127
Wynwood


HIGHLIGHTS

  • Income-Producing Covered Land Play Property With Rent Upside
  • Close To Midtown, Wynwood & The Design District
  • The Wynwood NRD2 Zoning Overlay Allows For An Increased Density of 150 Units/Acre Or 33 Units For This Site
  • Seller Financing Available

OVERVIEW

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

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$734 USD /SF

# OF UNITS

3

PRICE/UNIT

$633,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wynwood Norte Covered Land Play Opportunity

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,790 SF

ZONING

T4-R with NRD2 Overlay

APN/PARCEL ID

01-3125-019-2940

ASK ABOUT THIS PROPERTY

George BelesisDWNTWN Realty AdvisorsMore Info
310-710-5080

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George BelesisDWNTWN Realty AdvisorsMore Info
310-710-5080

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.