About This Home

PRICE REDUCED — COCONUT GROVE AREA. 5.17% INITIAL CAP / 7.5%+ PRO-FORMA YIELD. High-yield value-add asset priced at just $361/sqft on a massive 3,043 SF footprint. Discounted for some cosmetic updates. Great growth potential for cash buyer/1031 Exchange. • Asset & Lot: 100% Occupied Active multi-unit rental stream on an oversized ~6,953 sqft lot with ample parking. Some updates unlock a 7.5%+ Pro-Forma Cap Rate based on market rent projections. • Zoning & History: Grandfathered legal duplex. Features a legally permitted, structurally superior 1984 rear expansion (fully documented SF). Property search shows 1 unit because it has not been updated there, but the multi-unit layout is legal and fully established. • Roof & Location: Premium roof replaced just 3 years ago, drastically lowering insurance. Blocks to Coral Gables, Coconut Grove, Douglas Park, and Metrorail for a fast commute to Brickell/Downtown. Notice: Long-term residents are not yet aware of the sale; strictly do not disturb the occupants. Full financials will be shared upon request. Interior access will be granted ONLY upon verified upfront POF submitted directly to the listing agent.

Property Details

Flooring

Ceramic Floor, Terrazzo

Heating

Central, Electric

Cooling

Ceiling Fan(s), Central Air, Electric

Architectural Style

Attached

Building & Association

Building Name

AVALON SUB

Stories

1

Stories Total

1

Association

No

Lot & Construction

Lot Features

Oversized Lot

Lot Size Square Feet

0

Waterfront

No

View

No

Construction Materials

Concrete Block Construction, Stone

Roof

Flat Roof With Facade Front, Shingle

New Construction

No

Public Records

Parcel Number

01-41-16-017-0210

Tax Annual Amount

$14,609

Tax Year

2,025

Zoning

5700

County Or Parish

Miami-Dade County

Location