Listing Summary
This 8-unit multifamily building in Miami's trendy Wynwood Norte offers a unique investment chance for $2.4 million.
Full 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.
Quick Glance
- Listing ID:
CL-Florida-10669
- Status:
Active
- Year Build:
1925
- Building Size:
5,456 SqFt
- Lot Size:
5,456.00 Acre