10 W 53Rd Ter Hialeah, FL 33012

Property Details for 10 W 53Rd Ter

Property type

Commercial real estate

Description

This exceptional 13,127 sq ft corner lot in Hialeah, Florida (33012), presents a lucrative investment opportunity. Currently featuring a main house with four bedrooms and three bathrooms, offering immediate rental income potential, and a separate efficiency unit with one bedroom and one bathroom, this property is zoned for significant expansion. Approved plans exist for the construction of four new 3-bedroom, 2-bathroom units, each spanning 1,600 square feet, projecting a potential monthly rental income of $14,000. However, the development plans are adaptable, allowing for the potential creation of up to twelve units, subject to necessary approvals and modifications. The existing plans also include eight parking spaces, a number that may require adjustment depending on the final unit count. The property's location at 10 W 53rd Ter provides excellent access to local amenities and transportation. Prospective investors are encouraged to conduct thorough market research to assess the current demand for 3/2 units in the area and to determine realistic rental rates. This property offers significant upside for those seeking to capitalize on the growing multifamily housing market in Hialeah. The property is priced at $1,500,000.

Location Insight

City

Hialeah

County

Miami-Dade

State

Florida

Longitude

-80.2835015

Latitude

25.8709153