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Exceptional Investment Opportunity – Zoned for Up to 25 Units!
This property is a prime investment for developers looking to maximize returns. According to City of North Miami zoning regulations, this lot is zoned for the development of up to 25 residential units, making it a high-value opportunity for expansion and redevelopment. (Confirm zoning details with local authorities.)
This property offers the perfect combination of immediate cash flow, additional income streams, and long-term development potential!
Fully Renovated Multi-Family Property in North Miami
Don’t miss this unique chance to own a turnkey, income-generating property in one of North Miami’s most sought-after neighborhoods.
Property Highlights:
This property has been meticulously upgraded with:
• New roof
• Updated electrical and plumbing systems (up to code)
• Impact windows for enhanced safety and energy efficiency
• Modern kitchens with stainless steel appliances
• Brand-new bathrooms
Prime Location:
Nestled in a quiet neighborhood, this property offers unbeatable convenience:
• Grocery stores within 5 minutes
• Pharmacies, schools, and parks nearby
• Quick access to I-95, just 15 minutes from Miami International Airport and 35 minutes from Ft. Lauderdale Airport
• A walkable community, perfect for families and professionals
Income Potential:
This multi-family property features three highly profitable rental units:
• Two units generating $1,650/month each
• One main unit with a rental potential of $3,000/month
• Total estimated gross monthly income: $6,650
• Annual income potential of $79,800
• Coin laundry facility for additional income
Development Potential:
• Lot zoned for a 25-unit apartment complex
• Ideal for investors looking to scale their portfolio with a larger development (Confirm zoning details with local authorities)
Additional Features:
• 10 parking spaces for tenant convenience
• Located in a high-demand rental area within a peaceful and well-connected neighborhood
This is a rare opportunity to acquire a profitable, upgraded multi-family property with major development potential!
For sale by owner
$1,300,000
541 NE 142nd St, North Miami, FL 33161
5beds
1,900sqft
Est.:
Apartment
Built in 1947
-- sqft lot
$662,700 Zestimate®
$684/sqft
$-- HOA
What's special
New roofBrand-new bathroomsCoin laundry facilityModern kitchensImpact windowsStainless steel appliances
- 164 days
- on Zillow |
- 131 |
- 2 |
Listed by:
(786) 381-9764
Travel times
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Forced air
Cooling
- Central
Appliances
- Included: Dishwasher, Dryer, Freezer, Garbage disposal, Microwave, Range / Oven, Refrigerator, Trash compactor, Washer
Features
- Flooring: Tile, Concrete
- Basement: Finished
Interior area
- Total interior livable area: 1,900 sqft
Property
Parking
- Total spaces: 10
- Parking features: Off-street
Features
- Exterior features: Other
Lot
- Size: 10,580 Square Feet
Details
- Parcel number: 0622190110120
Construction
Type & style
- Home type: Apartment
Materials
- Foundation: Other
- Roof: Other
Condition
- New construction: No
- Year built: 1947
Community & HOA
Location
- Region: North Miami
Financial & listing details
- Price per square foot: $684/sqft
- Tax assessed value: $518,473
- Annual tax amount: $11,301
- Date on market: 12/19/2024
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