641 NW 2nd St, Miami, FL, 33128
1972
Prime Little River investment opportunity offering immediate income, value-add potential, and long-term redevelopment upside. Six-unit multifamily property consisting of all 2-bedroom, 1-bathroom units situated on a 7,500 SF lot with T6-8-O zoning. The property has been significantly upgraded with a new roof, updated electrical and plumbing systems, and completed 40-year recertification, providing a strong, low-risk foundation for any investor. Each unit includes assigned parking, and the building features on-site laundry, supporting tenant retention and operational efficiency. Currently generating approximately $138,000 annually, with a clear path to ~$168,000 through rent adjustments, this asset offers both in-place income and immediate upside. T6-8-O zoning allows for high-density multifamily or mixed-use development up to 8 stories, making this a true covered land play with long-term redevelopment potential. Strategically located minutes from Wynwood, the Design District, and Downtown Miami, with easy access to major highways and strong rental demand. A flexible investment that delivers income today and scales for the future.
Status:
Active
Type:
Commercial
Units:
6
Zoning:
4601
Garage:
Assigned
Heating:
Window Unit, Wall Furnace
Cooling:
Wall/Window Unit(s)
Est. Taxes:
$26,931
Construction
Block
Days on Market:
12
Lease Term Type:
12 Months
MLS #:
A11989831
Community Info
School Info
Walk Score
Yelp
Similar Properties
New or Coming Soon Properties
Listing courtesy of Avenew Realty Corp 786-888-0198