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About This Property
Positioned in the vibrant heart of Wynwood Norte, a neighborhood distinguished by its rich tapestry of street art, eclectic eateries, and dynamic nightlife, this multifamily building is a rare investment opportunity priced at $2,400,000. Featuring eight one-bedroom, one-bath units, the property encapsulates the essence of urban living in Miami's most sought-after locale, steps away from the high- end shops of the Design District and the scenic allure of Miami Beach. The strategic importance of this investment is underscored by the 2021 zoning overhaul led by the Miami City Commission, which introduced transformative changes to Wynwood Norte. The updated zoning regulations permit a remarkable density of up to 150 units per acre, eliminating previous lot size density calculations and enabling expansive building potential. This enhancement is complemented by revised NRD-2 zoning rules that offer significant parking requirement flexibilities in T4 and T5 zones, where buildings under 20,000 square feet are exempt from parking requirements. This regulatory landscape promotes dense, infill development, aligning perfectly with Miami's vision for this thriving district. Whether maintaining its current use or exploring redevelopment possibilities, this offering is an unparalleled chance to tap into Wynwood Norte's vibrant growth, making it an ideal acquisition for investors aiming to capitalize on Miami's premier cultural and entertainment hub.
Property Features
County
Miami-Dade County
Section
25
Area
5456
Subdivision
Interior
Cooling
Bedrooms
Floors
Full Baths
Appliances
Heating
Style
Garage Spaces
Construction/Exterior
Patio / Deck Description
Exterior
Has a Pool
Possession
Lot Size in Acres
Water
Sewer
Lot Size in Sq. Ft.
5000
Has Waterfront
No
Parking Description
View
Has Garage
No
Roof/Attic
Senior Community
No
Other Utilities
Property Type
Commercial Sale
Pets
Property SubType 2
Income/MultiFamily
Tax Year
NA
Year Built
1925
Tax Amount
$
APN
NA
Square Feet Source
NA
Map
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