473 61St StMiami, FL 33137
- Residential income properties
Property Details for 473 61St St
- Year built
- 1925
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
Prime Miami location at 473 NE 61st St, this 1925-built, single-story apartment building offers a unique investment opportunity. The property, situated on a generous 4,992 sq ft lot, currently functions as a 1,436 sq ft single-family residence with five bedrooms and two bathrooms. However, its original configuration was a legal duplex, presenting a compelling prospect for conversion back to a multi-family dwelling, maximizing rental income. The property is zoned T4-R, allowing for such a conversion. Currently generating a net operating income of $66,268.00, this property presents a strong return on investment. The property includes a hot tub, adding to its appeal. The asking price is $850,000. This is an excellent opportunity for investors seeking a property with both immediate income potential and the possibility of significant future growth through strategic renovation and conversion. Located in Miami, Florida, 33137, in Miami-Dade County, this property offers a blend of residential comfort and lucrative investment potential. The property's size and zoning provide flexibility for various investment strategies.
Location Insight
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Latitude
- 25.8328
- Longitude
- -80.1865
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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