Redevelop duplex lot - covered land play

$350,000

56 NW 60th St, Miami, FL 33127

For Sale

Land Duplex / Triplex / Fourplex

Active

Last Updated: 12/23/2024

Details:

Building Size: 2,572 sqft

Occupancy: 100%

Units: 2

Year Built: 1925

Zoning: T3-O

Floors: 1

Parking Spots: 2

Construction Status: Demolition Order

Gross Leaseable Area: 1,982

Investment Strategy: Core

Offered by Broker

Brian Carter

Broker-Associate, MBA, CCIM

Douglas Elliman

#BK3022095

Request Info to Unlock

Highlights:

Redevelop to a new duplex 2-story set of townhomes
Violation & Demolition Order in place - no accruing fines or fees
Fully rented currently through March & June 2023
Email for details and contract required for offers.
Text agent for internal videos and pictures

Description:

Potential Redevelopment or Renovation of existing property in Miami, FL. Duplex-zoned land (T3-O) with the benefit of being a covered land play. Currently a duplex rented at $55,200 annually for a potential 6% + Cap. Front is a 3/2 & back is a 2/1.5. Redevelop: Potentially a new two (2) unit, 2-story duplex townhome development. Cash only as property has violations & a demolition order. Text agent to schedule discuss or see attached information. Investors are rolling into this hot area w/in walking distance to the Magic City Tech Hub Development between 59th & 64th Street. Minutes to the Design District, Midtown Miami Shopping, Wynwood Entertainment District, Edgewater/Downtown & the MIMO District of Miami’s Upper East Side.