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Edgewater 12-Unit Income with 36-Story 236 NE 28th St 12 Unit Apartment Building $2,700,000 ($225,000/Unit) Miami, FL 33137
EXECUTIVE SUMMARY
Edgewater 12 Unit Multi Deal on T6-36-O land. 236 NE 28th Street presents a rare opportunity to acquire a beautiful vintage ‘20s income-producing 12-unit multifamily property with T6-36-O zoning, allowing for future vertical development up to 36 stories. Situated on a 5,550 SF lot, this property sits in a prime urban core location near Wynwood, Midtown, and the Design District, ideal for both short- and long-term investment strategies. With current rents delivering over $136,000 in net income and a proforma of $246,136, investors can enjoy solid cash flow while land banking for future development. Roof was replaced in 2015.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $2,700,000 | Lot Size | 0.14 AC |
| Price Per Unit | $225,000 | Building Size | 9,305 SF |
| Sale Type | Investment | Average Occupancy | 58% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1929 |
| Property Subtype | Apartment | Cross Streets | Biscayne Blvd |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | T6-36a-O - Transect Zone, high-density mixed use development | ||
| Price | $2,700,000 |
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 9,305 SF |
| Average Occupancy | 58% |
| No. Stories | 3 |
| Year Built | 1929 |
| Cross Streets | Biscayne Blvd |
| Opportunity Zone |
Yes |
| Zoning | T6-36a-O - Transect Zone, high-density mixed use development |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 11 | - | - |
1 1
Walk Score®
Walker's Paradise (94)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 01-3230-017-0260 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,842,934 |
PROPERTY TAXES
Parcel Number
01-3230-017-0260
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,842,934
CONTACTS
-
Robin Perez -
Vicente Rodriguez -
Carlos Fausto Miranda -
Fausto Commercial Realty Consultants
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Edgewater 12-Unit Income with 36-Story | 236 NE 28th St
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