145 NW 31st St, Miami FL 33127 | Miami-Dade County | A12007378

145 NW 31st St, Miami FL 33127

Active Residential Income Active

$1,475,000

15 More

Type
Triplex

2018 Sq Ft
Area Size

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Active Residential Income Active

145 NW 31st St, Miami FL 33127 | Miami-Dade County | A12007378

145 NW 31st St, Miami FL 33127

$1,475,000

Description

AS-IS Wynwood Norte infill opportunity: tenant-occupied triplex on approx. 7,150 sq ft lot near Midtown, Design District and Wynwood Walls. T4-R NRD-2 General Urban Transect supports urban redevelopment. Zoning, density, unit count, height, stories, and parking to be independently verified by buyer and buyer’s architect. Estimated development potential: approx. 24 units, 3 stories as marketed, and up to 5 stories by right, potentially 6 with bonuses; exact zoning/overlay to be confirmed during due diligence. zoning, density, setbacks, build-to and permitting). In-place income approx. $2,450/month-to-month tenants provide flexibility for repositioning or redevelopment while offering immediate cash flow for buy-and-hold investors. Offered AS-IS/where-is, subject to buyer due diligence. Annual taxes approx. $12,404 (buyer to verify).

Property Overview

This is a tenant-occupied triplex built in 1925, located at 145 NW 31st St in Miami. The property sits on a lot of approximately 7,150 square feet and offers 2,018 square feet of living area. It is currently generating rental income of approximately $2,450 per month from month-to-month tenants. The property is being sold in as-is condition and represents an infill opportunity in the Wynwood Norte area, near Midtown, the Design District, and Wynwood Walls. Its zoning, Miami 21 T4 General Urban Transect, supports urban residential redevelopment, and the Wynwood NRD-1 street master plan may also apply; a buyer must verify all applicable zoning, density, setbacks, and permitting requirements. The listed price is $1,475,000, which is noted as negotiable, with the seller open to terms for qualified buyers. Annual property taxes are approximately $12,404. The month-to-month tenancies provide flexibility for repositioning or redevelopment while offering immediate cash flow for a buy-and-hold strategy.

Frequently Asked Questions

What is the property's current income and tenancy situation?

The triplex is tenant-occupied with an in-place income of approximately $2,450 per month. The tenants are on month-to-month leases, which provides flexibility for repositioning or redevelopment.

What is the redevelopment potential for this property?

The property is located in the Miami 21 T4 General Urban Transect, which supports urban residential redevelopment. The Wynwood NRD-1 street master plan may also apply. The buyer is responsible for verifying all zoning, density, setbacks, build-to requirements, and permitting.

What are the annual property taxes?

The annual property taxes are approximately $12,404. As with all figures, the buyer is responsible for verification.

Is the price negotiable?

Yes, the listing states the price is negotiable and the seller is open to terms for qualified buyers.

What does 'AS-IS' mean for this sale?

The property is offered 'AS-IS/where-is,' meaning the seller makes no warranties or representations about its condition. The sale is subject to the buyer's due diligence to inspect and verify all aspects of the property.