490 NE 62nd St - For Sale - Value Add Multifamily / Future Development Site

$1,375,000

490 NE 62nd Street, Miami, FL 33138

For Sale

Multifamily

Active

Last Updated: 01/20/2025

Details:

Building Size: 3,050 sqft

Lot Area: 7,700 sqft

Occupancy: 100%

Units: 6

Zoning: T4-R

Offered by

Lyle Chariff

Broker/President

Chariff Realty Group

#0598708

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Mauricio Zapata

Broker/Principal

Chariff Realty Group

#3035127

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Highlights:

6 units multifamily
100% occupancy
Value add potential
Redevelopment into 4-6 luxury townhomes
Potential assemblage opportunity
Minutes away from the Miami Design District, home to high-end shopping, fine dining, art galleries, and luxury brands
Quick access to I-95 and Biscayne Boulevard allows for easy commuting to Miami’s Urban Core
15-20 minute drive to Miami Beach, providing quick access to some of the most popular beaches in the world
Palm Grove has been rapidly transforming with new developments and upscale/luxury residential projects

Description:

Chariff Realty Group proudly presents an exceptional investment opportunity within Miami’s thriving real estate market. This 6-unit multifamily property not only provides a steady income stream but also holds significant development potential for savvy investors.

490 NE 62 St is perfect for investors or developers looking to blend rental income with long-term growth through strategic redevelopment. This property’s prime & high-demand location and versatile potential make it a rare and valuable addition to any real estate portfolio.