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

529 & 585 88th St for Sale

Price $4,420,000.00

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

Introducing a highly unique 2-acre Opportunity Zone portfolio in the El Portal neighborhood between Miami Shores and Little River. Parcel #1 at 529 NW 88 ST contains a cash-flowing, turn-key bungalow community of 12 units spread across 7 separate buildings and is 100% occupied. Private gate access, landscaped grounds, and central courtyard w/ BBQ area for tenants to enjoy. Parcel #2 at 585 NW 88 ST can essentially be seen as land where you can duplicate a similar duplex community of at least 8 units at relatively low-cost. There is a vacant single-family home currently on that lot which can be renovated and leased in the interim.

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 at 529 NW 88 ST contains a cash-flowing, turn-key bungalow community of 12 units spread across 7 separate buildings and is 100% occupied. Private gate access, landscaped grounds, and central courtyard w/ BBQ area for tenants to enjoy. Parcel #2 at 585 NW 88 ST can essentially be seen as land where you can duplicate a similar duplex community of at least 8 units at relatively low-cost. There is a vacant single-family home currently on that lot which can be renovated and leased in the interim.

City:El Portal,Zoning:5100,List A O R:A-Miami Association of REALTORS,Latitude:25.8556408,List Price:4420000,Listing Id:A11582852,Longitude:-80.2060907,Mls Status:Active,Year Built:1940,Postal Code:33150,Street Name:88th St,Coordinates:1:25.8556408,Photos Count:8,Days On Market:18,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 at 529 NW 88 ST contains a cash-flowing, turn-key bungalow community of 12 units spread across 7 separate buildings and is 100% occupied. Private gate access, landscaped grounds, and central courtyard w/ BBQ area for tenants to enjoy. Parcel #2 at 585 NW 88 ST can essentially be seen as land where you can duplicate a similar duplex community of at least 8 units at relatively low-cost. There is a vacant single-family home currently on that lot which can be renovated and leased in the interim.,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:New,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,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 at 529 NW 88 ST contains a cash-flowing, turn-key bungalow community of 12 units spread across 7 separate buildings and is 100% occupied. Private gate access, landscaped grounds, and central courtyard w/ BBQ area for tenants to enjoy. Parcel #2 at 585 NW 88 ST can essentially be seen as land where you can duplicate a similar duplex community of at least 8 units at relatively low-cost. There is a vacant single-family home currently on that lot which can be renovated and leased in the interim.,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?,Sub Agency Compensation:0%,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,Transaction Broker Compensation:2.5%,Internet Entire Listing Display Y N:1,M I A M I R E_ Compensation Disclaimer:BBC: 2.5%, The offer of compensation is made only to participants of the MLS where the listing is filed.,Transaction Broker Compensation Type:%,

  • Price $4,420,000.00
  • Price Change: 2024-05-07
  • Lot size sq. ft.
  • Price per sq.ft. $
  • Year Build 1940
  • Waterfront
  • View
  • Pool Yes
  • Style
  • Construction
  • Parking Description
  • Flooring Type
  • Property Type Commercial Sale
  • Status Active
  • Listed 2024-05-07
  • Days on Market 21
  • Furnished
  • City El Portal
  • Zip 33150
  • State Florida
  • Subdivision
  • Development Name
  • HOA Fees
  • Taxes 32054
  • Taxes Year