$850,000 • living size area 5058 sqft

Renderings attached to mls. opportunity is knocking now for a limited time! this property is being sold as a development site. development projection: we are now asking $850,000, so this comes to $47,222 of land per unit. the construction costs for an average 1,400-square-foot unit at $285 plus per square foot is $400,000 average sale. each lift parking space is $12,000 for 16 lifts required to obtain a total of 36 parking spaces and give each unit two spaces. impact fee per unit is approximately $2,000. realty fees and closing $20,000 allowance, estimated finance costs approximately $7,000 per unit, which brings the cost of the project to $4,868,876 with each unit costing $258,882. total sales would be $7,200,000 at $ 400,000 average sale price per unit generating approximately 36 percent profits of sale price. density verification zoning letter attached and seller already has preliminary site plans for 18 units and garage parking. zoning is dci. currently this single-family home with additional duplexes: nine units total income-producing with all units always rented in this stellar location just blocks from downtown and every new development site where people want to live. just five block from the salvador dali museum off beach drive, three blocks from publix and bayfront medical center. tenants are on a month-to-month basis, all units filled, no security deposits. it is so easy to continue gaining potential income from tenants while your plans are being developed or just hold and keep collecting rents.

Commercial -

Basics

Features

Description

Similar Properties in this Area