180 NW 59th St

Highlights:

• Lot Features: City Location, In Residential Area
• Building Features: Exterior Lighting, Landscaped, Laundry Facilities
• Gross Income: 90600
• Number Of Buildings: 1
• Documents Available: Books & Records, Contracts, Deed, Financial Statement, Investment Analysis, Owner Managed, Photos, Rent Rolls
• Cooling: Wall/Window Unit(s)
• Heating: Wall/Window Units
• Electric: 110 Volts Power, 200+ Amp Service, 220 Volts, Separate Meters
• Flooring: Tile, Vinyl
• Construction Materials: Concrete Block Construction, CBS Construction, Stucco, Insulated, Sheet Rock
• Parking Features: On Street
• Security Features: Smoke Alarm, Security Fence, Security Gate, Security Lights
• Insurance Expense: 2990
• Ownership: Joint Venture

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!