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56 NW 60th St - Develop two 2-story townhomes 0.14 Acres of Residential Land Offered at $350,000 in Miami, FL 33127
INVESTMENT HIGHLIGHTS
- Existing duplex rented for current income | Covered Land Play
- Between high growth areas of Magic City, MIMO District & the Design District
- See attachments in Data Room for due diligence, disclosure & details
- Potential redevelopment to two - 2-story duplex townhomes for rent or re-sale
- Text agent to request video and pics of the interior
EXECUTIVE SUMMARY
PROPERTY FACTS
| Price | $350,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Multifamily |
| Sale Condition | Redevelopment Project | Total Lot Size | 0.14 AC |
| No. Lots | 1 | Opportunity Zone |
Yes
|
| Property Type | Land | ||
| Zoning | T3-O - T3-O Zoned. Duplex zoning. Build up to 2-stories. See attachments in Due Diligence Vault. | ||
| Price | $350,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 0.14 AC |
| Opportunity Zone |
Yes |
| Zoning | T3-O - T3-O Zoned. Duplex zoning. Build up to 2-stories. See attachments in Due Diligence Vault. |
1 LOT AVAILABLE
Lot 1
| Price | $350,000 | Lot Size | 0.14 AC |
| Price Per AC | $2,584,074.72 |
| Price | $350,000 |
| Price Per AC | $2,584,074.72 |
| Lot Size | 0.14 AC |
T3-O Zoned Lot of 5,900 SF. Covered land play. See Disclaimer attached for property & sales conditions. Existing structure is rented as a duplex w/ one side being non-conforming. Either legalize structure or redevelop to two 2-story duplex townhomes
DESCRIPTION
The property (56 NW 60th Street) currently has violations for non-conforming use and an existing demolition order. A new buyer could submit plans to fix the violations to the property, bringing the property to use within code and legalize the back unit. Property is zoned duplex, but the current use is single family home. The back unit is non-permitted and enclosed 2/1.5 under a flat roof that adjoins the pitched room of the front home. To bring the property into conformity, Buyer would need to open a permit to include (Mechanical, Structural, Roof, Plumbing, Electrical & Sewer), raise the floor as well the ceiling of the back unit to code, and add a 2nd legal electrical meter, then close out the permit(s). An alternative would be to vacate the property, demolish the property, thus removing the violations, and build a new two (2) unit, 2-story duplex townhome development for a rental or sale of each of the two units. See attachments in Due Diligence Vault. See template agreements to make offers attached.
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56 NW 60th St - Develop two 2-story townhomes
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