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Underline Twin Home Approved to Build - Covered land Play. Seller Financing. Redevelopment along The Underline, Miami 1866 Southwest 25th Terrace, Miami, FL 33133
Vacant Land
Mixed Use
Property Description
FULLY APPROVED SITE
REMAX 360 proudly presents a prime redevelopment directly along “The Underline”: 1866 SW 25th Terr “The Underline Development” with Current Income. This offering includes an income producing multi-family approved for (2) three story, luxury townhomes along "The Underline". The opportunity consists of redevelopment of the existing $5,400.00 monthly and redeveloping two luxury townhomes. The lots benefit from favorable T5-R zoning, which allows for development density of 65 units per acre "by right”. The property sists in the TOD (transit orient development boundary) allowing for even greater density and intensity.
The property is currently a single-family home in the "Natoma Park" subdivision. The median listing home price in Natoma Park was $1.5M in December 2022, trending up 22% year-over-year. The median listing home price per square foot was $613. The existing property is 2,100 ft on a 5,200 ft lot. The property abuts the underline directly to the South. In our analysis, the highest and best use is as a redevelopment for either two upscale twin homes or four-row house townhomes. The underline will experience new development and revitalization.
Area Description
Exciting prospective revitalization venture situated within the desirable Natoma Park, Coconut Grove locale!!
Highlights
Investment Highlights
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FULLY APPROVED SITE
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Seller Financing Available
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Covered land play
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Current GI $64,800.00
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“Seller to pay buyers rep commission”
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Plans for (2) twin homes.
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(2) 4 bed, 3.5 bth double garage
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Underline Phase 2
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Natoma subdivision
Full Address: 1866 Southwest 25th Terrace, Miami, FL 33133
Listing Type: FOR SALE
Status: Active
Occupancy Rate: 100%
Zoning: T 5 0
Region: S-SE
County: Miami-Dade County
Use Type: Land,mixed use, Multifamily
Property ID: 4044602
Has Sewer: Yes
Has Water: Yes
Has Electric: Yes
Has Waste: Yes
Has Gas: Yes
Has Sprinkler: Yes
Building Sf: 5,200
Number Buildings: 1
Year Renovation: 2010
Number Parking Spaces: 4
Tenancy Type: Multi-Tenant
Investment Highlights FULLY APPROVED SITE Seller Financing Available Covered land play Current GI $64,800.00 “Seller to pay buyers rep commission” Plans for (2) twin homes. (2) 4 bed, 3.5 bth double garage Underline Phase 2 Natoma subdivision
Average Monthly Rent - #1: 3100
Average Monthly Rent - #2: 1300
Average Monthly Rent - #3: 1000