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$2,100,000
Est. payment /mo
5,456 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,456 sqft
Price per Sqft $384
MLS Listing ID A12084742
HOA Y/N No
Year Built 1925
Lot Size 5,000 Sqft
Property Sub-Type Multi Family
Property Description
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.
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.
Location
State FL
County Miami-dade
Area 31
Zoning 3900
Exterior
Private Pool Yes
Others
Tax ID 01-31-25-019-1720
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12084742
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Listed by Fausto Commercial Realty Consultants Inc
NEARBY SCHOOL & BUSINESS
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