821 31St Ct Miami, FL 33135

This exceptional Miami, FL investment property, located at 821 SW 31st Ct, 33135, presents a unique opportunity. The 1-story, 3-unit apartment building, built in 1925, currently generates $48,000 in annual income. This is one of two adjacent properties available for sale; the combined properties offer significant potential. Situated on a 5,670 square foot lot, the asking price of $895,000 equates to $158 per square foot. The property is conveniently located 100 feet from SW 8th St and 6 blocks from the Douglas Entrance in Coral Gables, offering easy access to major thoroughfares. Its proximity to a recently sold, high-value property and a Home Depot further underscores its prime location. The property is classified as "Medium density commercial" in the Master Plan, with T-5 zoning, and the potential for substantial density increases under the amended Live Local Act. This makes it an ideal development site with existing income until demolition. Consider this a rare chance to acquire a valuable asset in a rapidly developing area of Miami.