For Sale
$1,990,000

105 31St StMiami, FL 33127

Prime Wynwood location, high-growth potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 1930-built, four-story apartment building in Miami, Florida, presents a compelling investment opportunity. Located at 105 NW 31st Street, Miami, FL 33127, this property sits on a substantial 7,800 square foot lot in the burgeoning Wynwood/Wynwood Norte neighborhood. The property boasts an impressive 198 feet of frontage (143 feet on NW 1st Avenue and 55 feet on NW 31st Street). Currently zoned T4-O, it offers significant redevelopment potential. Plans allow for a 3-story, 18-unit building or a 4-story, 24-unit building (with 25% designated for Miami-Dade affordable housing units), eliminating the need for parking. The existing structure is in excellent condition and currently operates as a profitable short-term rental, fully furnished and ready for immediate income generation. This prime location, coupled with the flexible zoning and high demand for housing in this rapidly developing area, makes this a truly exceptional opportunity for developers and investors seeking substantial returns. The asking price is $1,990,000.

Highlights

  • Exceptional 1930s four-story apartment building in Miami's Wynwood/Wynwood Norte neighborhood.
  • Located on a 7,800 sq ft lot at 105 NW 31st Street, Miami, FL 33127, with 198 feet of frontage.
  • T4-O zoning allows for redevelopment into an 18-unit (3-story) or 24-unit (4-story) building, with parking waivers available.
  • Currently operates as a profitable, fully furnished short-term rental.
  • Asking price: $1,990,000.

Property Details for 105 31St St

Property type
Apartment buildings, Small apartment buildings
Year Built
1930
Stories
4

Location Insight

City
Miami
County
Miami-Dade
State
Florida
Latitude
25.8059626
Longitude
-80.1974227
105 31St St, Miami, Florida

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105 31St St
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