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Income/MultiFamily - PALM SPRINGS AMD for Sale

10 W 53RD TER, HIALEAH GARDENS, FL 33012

Asking Price$1,400,000 Change Price$100,000

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  • Days on market:

    422 day(s)
  • Original Price:

    $1,500,000
  • Tax Legal Description:

    PALM SPRINGS AMD PB 53-22 LOT 1 BLK 8 LOT SIZE 96.520 X 136 OR 19829-2334 0801 1 COC 24443-0096 04 2006 1
  • Tax Year:

    2023
  • Property Type:

    Income/MultiFamily
  • Waterfront:

    Yes
  • Waterfrontage (sqft):

    85
  • Waterfront Description:

    Canal FrontCanal Width 81-120 Feet
  • View:

    Canal View
  • Inclusions:

    None
  • Lot Features:

    Central Business District Less Than 1 Acre

Description

$1,400,000 • waterfront access

Development potential: approved plans: 4 units, each with 3 bedrooms and 2 bathrooms (1,600 sq ft per unit) potential income $14,000 per month maximum potential: (plans can be modified)to up to 12 units . additional considerations: appreciation: plans include 8 parking spaces, which may need to be increased if the number of units is maximized. rental market: research the local rental market to determine demand for 3/2 units and potential rental rates. overall, this property offers significant potential for investors looking to capitalize on the growing demand for multifamily housing. current state: main house: 4 bedrooms, 3 bathrooms (potential rental income) efficiency unit: 1 bedroom, 1 bathroom land: 13,127 sq ft corner lot

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