Multifamily in Miami, FL 33138

Federal Way, 7715 NE 5th Ave

Investors Special | Waterfront land | Single Family - Anciliary Unit zoning. Emerging submarket. Priced at land value. Rare opportunity to secure a 9,050 SF waterfront corner parcel in the rapidly appreciating Upper Eastside / Little River / Miami Shores corridor — one of Miami’s most active areas for redevelopment and new construction. Positioned with 50 feet of frontage on the Little River Canal, a navigable waterway with fixed bridge access to the Intracoastal and open bay, this site offers both lifestyle appeal and strong resale/rental demand — a combination that’s increasingly difficult to find at this price point. Zoning & Development Potential - Zoned T3-L Single-Family + Ancillary Unit (ADU), allowing multiple value-add strategies: Luxury custom waterfront spec home; Main residence + guest house; Short/long-term rental configuration; Modern townhouse-style concept (verify with city); formerly zoned R-3. Hold for appreciation as land in a transitioning neighborhood. Minutes from Ironside, MiMo District, Biscayne Blvd retail, and the Design District, the area continues to attract investors. Ideal for builders, developers, or long-term investors looking to create or capture upside in a high-growth pocket of Miami. Existing duplex predates current zoning. Currently used as three units. Site includes a cut-in slip with old coral rock boat house.