529 & 585 88th St ,Residential-multi-family for Sale

529 & 585 88th St for Sale

Price $3,699,000.00

• Lot size 43496
• Year Build 1940
• Waterfront
• Zip 33150
• Style
• Parking Description
• Pool Yes
• Status Active With Contract

Description

Introducing a highly unique 2-acre Opportunity Zone portfolio in the El Portal neighborhood between Miami Shores and Little River. Parcel #1 Quaint, convenient, renovated and cash-flowing, 529 NW 88 ST is a self-contained 12 units property that features private gated access and central courtyard w/ plenty of space for tenants to BBQ and enjoy the landscaped grounds. Parcel #2 at 585 NW 88 ST is a charming renovation-ready single family home on a full acre lot where zoning allows for the development of 8 total units of the same bungalow style as the model community non-contiguous to the east. Relatively simple to replicate and low-cost to build, the developer can model the proven concept of the 1st phase and either hold or flip upon completion.

This is a great low-barrier to entry opportunity to develop a boutique project of proven success, maximize cash-flow via short-term rental or traditional annual rentals and either flip one or both parcels on a cap rate basis, or hold longer term to take advantage of the capital gains tax savings afforded by the portfolio's Qualified Opportunity Zone location.

1 53 41 1 AC PL OF HOME ACRES PB 39-22 LOT 11 BLK 2 LOT SIZE 139.410 X 312 OR 18069-0994 0697 4 COC 23179-1825 03 2005 2

Introducing a highly unique 2-acre Opportunity Zone portfolio in the El Portal neighborhood between Miami Shores and Little River. Parcel #1 Quaint, convenient, renovated and cash-flowing, 529 NW 88 ST is a self-contained 12 units property that features private gated access and central courtyard w/ plenty of space for tenants to BBQ and enjoy the landscaped grounds. Parcel #2 at 585 NW 88 ST is a charming renovation-ready single family home on a full acre lot where zoning allows for the development of 8 total units of the same bungalow style as the model community non-contiguous to the east. Relatively simple to replicate and low-cost to build, the developer can model the proven concept of the 1st phase and either hold or flip upon completion.

City:El Portal,Zoning:5100,List A O R:A-Miami Association of REALTORS,Latitude:25.8556408,List Price:3699000,Listing Id:A11582852,Longitude:-80.2060907,Mls Status:Active With Contract,Year Built:1940,Postal Code:33150,Street Name:88th St,Coordinates:1:25.8556408,Photos Count:8,Days On Market:175,Lot Size Acres:2,Lot Size Units:Square Feet,M I A M I R E_ Area:20,On Market Date:2024-04-19,Parcel Number:30-31-01-002-0300,Property Type:Commercial Sale,Street Number:529 & 585,Public Remarks:Introducing a highly unique 2-acre Opportunity Zone portfolio in the El Portal neighborhood between Miami Shores and Little River. Parcel #1 Quaint, convenient, renovated and cash-flowing, 529 NW 88 ST is a self-contained 12 units property that features private gated access and central courtyard w/ plenty of space for tenants to BBQ and enjoy the landscaped grounds. Parcel #2 at 585 NW 88 ST is a charming renovation-ready single family home on a full acre lot where zoning allows for the development of 8 total units of the same bungalow style as the model community non-contiguous to the east. Relatively simple to replicate and low-cost to build, the developer can model the proven concept of the 1st phase and either hold or flip upon completion.,County Or Parish:Miami-Dade County,List Office Name:The Alpha Commercial Advisors LLC,Private Remarks:This is a great low-barrier to entry opportunity to develop a boutique project of proven success, maximize cash-flow via short-term rental or traditional annual rentals and either flip one or both parcels on a cap rate basis, or hold longer term to take advantage of the capital gains tax savings afforded by the portfolio's Qualified Opportunity Zone location.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:Price Decrease,Postal Code Plus4:2447,Property Sub Type:Income/MultiFamily,State Or Province:FL,Street Dir Prefix:NW,Tax Annual Amount:32054,Unparsed Address:529 & 585 NW 88th St, El Portal FL 33150,Listing Agreement:Exclusive Right To Sell,Building Area Total:7927,Building Area Units:Square Feet,Lot Size Square Feet:43496,Original List Price:4420000,Previous List Price:3900000,Public Survey Range:31,I D X Participation Y N:1,Syndication Remarks:Introducing a highly unique 2-acre Opportunity Zone portfolio in the El Portal neighborhood between Miami Shores and Little River. Parcel #1 Quaint, convenient, renovated and cash-flowing, 529 NW 88 ST is a self-contained 12 units property that features private gated access and central courtyard w/ plenty of space for tenants to BBQ and enjoy the landscaped grounds. Parcel #2 at 585 NW 88 ST is a charming renovation-ready single family home on a full acre lot where zoning allows for the development of 8 total units of the same bungalow style as the model community non-contiguous to the east. Relatively simple to replicate and low-cost to build, the developer can model the proven concept of the 1st phase and either hold or flip upon completion.,Listing Contract Date:2024-04-19,Originating System I D:miamire,Street Number Numeric:529,Tax Legal Description:1 53 41 1 AC PL OF HOME ACRES PB 39-22 LOT 11 BLK 2 LOT SIZE 139.410 X 312 OR 18069-0994 0697 4 COC 23179-1825 03 2005 2,Public Survey Township:31,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:Located near neighborhood shopping, Little River and Miami Shores,Contract Status Change Date:2024-04-19,Internet Address Display Y N:1,Number Of Units In Community:13,M I A M I R E_ Ok To Advertise List:No,Internet Entire Listing Display Y N:1,