105 31St St Miami, FL 33127
- Small apartment buildings
Current Use by Public Records
- Small apartment buildings
Property Details for 105 31St St
- Year built
- 1930
- Property type
- Small apartment buildings
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.1974227
- Latitude
- 25.8059626
