Multifamily in Miami, FL 33135

Hilah Park, 831 SW 31st Ct

Property consists of a Duplex with (1) 2 BR/1 BA (Unit 831) (2) 1 BR /1 BA (Unit 833) (3) Efficiency. Separate electrical. Shared Washer and Dryer in back. Lot size of 8,849 SF with a current zoning of T4-L. Future land use Master Plan changed to “Medium Density Commercial”, corresponding zoning T-5. Corresponding zoning under Miami 21 would be T5L or T5O, which allows commercial with residential uses. T5 would permit approx. 8.46 dwelling units in a 5-story building. Property borders T6-8 on the north (along 8th St). The property being offered is priced as it is now in the Master Plan (T5). The property benefits from access to 12-inch water main and 8-inch sewer lines fronting Home Depot. Property generates $60,600/annual rents. Price of $1,395,000 ($136/SF lot size of 8,849 SF).