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Business Opportunity - Miami Gardens Estates Sec for Sale

6310 SW 25TH ST, MIRAMAR, FL 33023

Asking Price$699,997

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  • Living 2600sqft
  • Year Built 1973
  • Days on market:

    84 day(s)
  • Price per sqft:

    $269.23
  • Tax Legal Description:

    MIAMI GARDENS ESTATES SEC 2 22-33 B LOT 11 BLK 8
  • Tax Year:

    2022
  • Property Type:

    Business Opportunity
  • Style:

    Duplex
  • Construction Type:

    Concrete Block Construction
  • Cooling Description:

    Central Cooling
  • Heating Description:

    Central Heat
  • Floor Description:

    Other Floors
  • Sewer Description:

    Municipal Sewer
  • Lot Features:

    1/4 To Less Than 1/2 Acre Lot
  • Type of Association:

    None

Description

$699,997 • living size area 2600 sqft

Best deal in broward. build 26 units; can be micro units 350 sqft each to keep costs low. total construction cost $2m+/-. monthly rent per unit based on comps $1,500. gross annual income $468,000. all in cost $3m+/-. $5m+ value once built based on 6%-7% cap rate. $2m in equity. seller will finance. opportunity zone: huge tax benefits. seller had preliminary development meeting with city: confirmed included plans for 26 unit building are in accordance with current zoning. could build larger 1 bedroom units. great airbnb potential being so close to hard rock & main highways. active comps $58k-$138k per unit for land. recently sold comps $50k-$59k per unit for land. subject property under $27k per unit; approx 50% off market value. see pics. large duplex on property producing cashflow.

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