Prime development opportunity in Miami's urban core. This 9,000 sq ft lot features a two-structure 1920s triplex, currently generating $40k annually. The lot is Zoned T6-8-L, permits up to 33 residential units by right. Located within a Transit-Oriented Development (TOD) zone, this property benefits from reduced or eliminated parking requirements, significantly lowering construction costs and maximizing buildable space. Strategically situated near major employment centers like Jackson Memorial Hospital, the University of Miami, and the Miami-Dade County Courthouse, and within walking distance to multiple transit options, enhancing appeal for future residents. This property offers a unique blend of immediate income and significant redevelopment potential in a rapidly evolving area of Miami.
Miami, FL, 33136
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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