180 NW 59th St new Save Request In-Person Tour Request Virtual Tour
Miami,FL 33127
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,837 sqft
Price per Sqft $458
MLS Listing ID A11854539
Maintenance Fees $840
Construction Status Resale
HOA Y/N No
Year Built 1926
Annual Tax Amount $12,727
Tax Year 2024
Lot Size 6,500 Sqft
Property Sub-Type Multi Family
Property Description
Located in a coveted Opportunity Zone, this 5-unit multifamily property boasts over $100,000 in permitted electrical & plumbing upgrades, ensuring reliable infrastructure. Zoned T-5-R, there's great potential for higher-density mixed-use development, allowing up to 5 stories with retail, office, and residential spaces—unlocking significant value appreciation. Durable concrete block construction, there is a mix of 1, 2, and 3-Bedroom units, each with separate electric meters for tenant convenience. Spacious front & back yards, perfect for making desirable common areas for potential new tenants. Not in a flood zone, this investment offers a strong cap rate, making it a rare find in Miami's competitive market. Bringing rents up to current market will also dramatically improve your returns!
Location
State FL
County Miami-dade
Area 31
Interior
Heating Window Unit,Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Tile,Vinyl
Exterior
Roof Type Tar/Gravel
Private Pool Yes
Building
Story 1
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Block,Stucco
Construction Status Resale
Others
HOA Name Owner
Tax ID 01-31-13-063-0521
Ownership Joint Venture
Security Features Fenced,Security Gate,Smoke Detector(s),Security Lights
Acceptable Financing Cash,Conventional,Owner May Carry Second
Listing Terms Cash,Conventional,Owner May Carry Second
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11854539