PRICE REDUCED — COCONUT GROVE AREA. 5.17% INITIAL CAP / 7.5%+ PRO-FORMA YIELD. High-yield value-add asset priced at just $361/sqft on a massive 3,043 SF footprint. Discounted for some cosmetic updates. Great growth potential for cash buyer/1031 Exchange.
• Asset & Lot: 100% Occupied Active multi-unit rental stream on an oversized ~6,953 sqft lot with ample parking. Some updates unlock a 7.5%+ Pro-Forma Cap Rate based on market rent projections.
• Zoning & History: Grandfathered legal duplex. Features a legally permitted, structurally superior 1984 rear expansion (fully documented SF). Property search shows 1 unit because it has not been updated there, but the multi-unit layout is legal and fully established.
• Roof & Location: Premium roof replaced just 3 years ago, drastically lowering insurance. Blocks to Coral Gables, Coconut Grove, Douglas Park, and Metrorail for a fast commute to Brickell/Downtown.
Notice: Long-term residents are not yet aware of the sale; strictly do not disturb the occupants. Full financials will be shared upon request. Interior access will be granted ONLY upon verified upfront POF submitted directly to the listing agent.
- Swimming Pool
- Heating System
- Cooling System
- Patio:
- Patio
- Roof
- Sewer
- State:
- FL
- County:
- Miami-Dade
- City:
- Miami
- Zipcode:
- 33133
- Longitude:
- W81° 45' 44.3''
- Latitude:
- N25° 43' 50.8''
- Building Area:
- 3,202 Sqft
- Construction Materials
- Cumulative DOM:
- 41
- DOM:
- 41
- Exterior Features
- Flooring
- Internet Listing Display:
- 1
- Lot Features
- Parcel Number:
- 01-41-16-017-0210
- Subdivision Name:
- AVALON SUB
- Tax Annual Amount:
- $14,609
- Utilities
- Virtual Tour:
- Click Here
Residential Income For Sale
Miami, Florida 33133
- Property Type :
- Residential Income
- Listing Type :
- For Sale
- Price :
- $1,099,000
- Square Footage :
- 2,974 Sqft
- Year Built :
- 1924
- MLS # :
- A12072468
