144 53Rd St Miami, FL 33127

Property Details for 144 53Rd St

Year built

1946

Property size

2,318 SF

Property type

Small apartment buildings

Description

This exceptional multifamily property, located at 144 NW 53rd St, Miami, FL 33127, presents a compelling investment opportunity in Miami's thriving Buena Vista neighborhood. The property, built in 1946, is a one-story apartment building totaling 2,318 square feet and situated on a generous 7,200 square foot lot. Currently configured as a duplex/triplex/quadruplex, the property offers significant upside potential. The front unit generates a monthly rental income of $2,700, while the rear unit commands $1,250 per month, providing immediate cash flow. Zoned T4-R-GENERAL URBAN ZONE, this property allows for multifamily development, with the potential to increase the unit count to up to six. Its prime location offers easy access to the Design District, Midtown, and Wynwood, capitalizing on Miami's explosive growth. This value-add opportunity combines strong current income with the potential for future development and increased profitability. The property's size and zoning make it an ideal candidate for expansion or redevelopment, catering to the high demand for residential units in this desirable area. This is a rare chance to acquire a well-located, income-producing asset with significant long-term growth potential in one of Miami's most dynamic neighborhoods.