244 34th St ,Apartments for Sale

244 34th St for Sale

Price $2,400,000.00

• Lot size 5456
• Year Build 1925
• Waterfront
• Zip 33127
• Style
• Parking Description
• Pool Yes
• Status Active

Description

This 8-unit multifamily building in Miami's trendy Wynwood Norte offers a unique investment chance for $2.4 million. The location boasts vibrant street art, diverse restaurants, and exciting nightlife, with high-end shops and beaches nearby. Recent zoning changes by the city allow for significantly denser development, making the property highly attractive for potential future expansion. Additionally, the building offers immediate returns with a 5.19% cap rate and the potential for even higher returns (6.50%) based on projected rents. Whether you choose to keep the current setup or explore redevelopment opportunities, this property positions you to capitalize on Wynwood Norte's booming cultural and entertainment scene.

WYNDWOOD PARK PB 5-23 LOT 6 BLK 10 LOT SIZE 50.000 X 100 OR 17581-0943 0397 1 COC 22969-1481 23508-4141 1204 1

This 8-unit multifamily building in Miami's trendy Wynwood Norte offers a unique investment chance for $2.4 million. The location boasts vibrant street art, diverse restaurants, and exciting nightlife, with high-end shops and beaches nearby. Recent zoning changes by the city allow for significantly denser development, making the property highly attractive for potential future expansion. Additionally, the building offers immediate returns with a 5.19% cap rate and the potential for even higher returns (6.50%) based on projected rents. Whether you choose to keep the current setup or explore redevelopment opportunities, this property positions you to capitalize on Wynwood Norte's booming cultural and entertainment scene.

City:Miami,Zoning:3900,List A O R:A-Miami Association of REALTORS,Latitude:25.8078899,List Price:2400000,Listing Id:A11546009,Longitude:-80.2002123,Mls Status:Active,Year Built:1925,Postal Code:33127,Street Name:34th St,Coordinates:1:25.8078899,Photos Count:20,Days On Market:7,Lot Size Units:Square Feet,M I A M I R E_ Area:31,On Market Date:2024-02-28,Parcel Number:01-31-25-019-1720,Property Type:Commercial Sale,Street Number:244,Public Remarks:This 8-unit multifamily building in Miami's trendy Wynwood Norte offers a unique investment chance for $2.4 million. The location boasts vibrant street art, diverse restaurants, and exciting nightlife, with high-end shops and beaches nearby. Recent zoning changes by the city allow for significantly denser development, making the property highly attractive for potential future expansion. Additionally, the building offers immediate returns with a 5.19% cap rate and the potential for even higher returns (6.50%) based on projected rents. Whether you choose to keep the current setup or explore redevelopment opportunities, this property positions you to capitalize on Wynwood Norte's booming cultural and entertainment scene.,County Or Parish:Miami-Dade County,List Office Name:Fausto Commercial Realty Consultants Inc,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:3458,Property Sub Type:Income/MultiFamily,State Or Province:FL,Street Dir Prefix:NW,Tax Annual Amount:17997,Unparsed Address:244 NW 34th St, Miami FL 33127,Listing Agreement:Exclusive Agency,Building Area Total:5456,Building Area Units:Square Feet,Lot Size Square Feet:5000,Original List Price:2400000,Public Survey Range:31,I D X Participation Y N:1,Syndication Remarks:This 8-unit multifamily building in Miami's trendy Wynwood Norte offers a unique investment chance for $2.4 million. The location boasts vibrant street art, diverse restaurants, and exciting nightlife, with high-end shops and beaches nearby. Recent zoning changes by the city allow for significantly denser development, making the property highly attractive for potential future expansion. Additionally, the building offers immediate returns with a 5.19% cap rate and the potential for even higher returns (6.50%) based on projected rents. Whether you choose to keep the current setup or explore redevelopment opportunities, this property positions you to capitalize on Wynwood Norte's booming cultural and entertainment scene.,Listing Contract Date:2024-02-28,Originating System I D:miamire,Public Survey Section:25,Street Number Numeric:244,Tax Legal Description:WYNDWOOD PARK PB 5-23 LOT 6 BLK 10 LOT SIZE 50.000 X 100 OR 17581-0943 0397 1 COC 22969-1481 23508-4141 1204 1,Public Survey Township:31,Originating System Name:Miami Association of REALTORS?,Sub Agency Compensation:1%,M I A M I R E_ Internet Remarks:8 units - Wynwood Norte - $2.4M. 5.19% cap - potential for redevelopment due to recent zoning changes.,Contract Status Change Date:2024-02-28,Internet Address Display Y N:1,Transaction Broker Compensation:2%,Internet Entire Listing Display Y N:1,M I A M I R E_ Compensation Disclaimer:BBC: 2%, The offer of compensation is made only to participants of the MLS where the listing is filed.,Transaction Broker Compensation Type:%,