USD 2,850,000

570 NE 68th St
Miami, Florida 33138

For Sale

Property Description

INVESTORS: UPSIDE GALORE! Welcome to Saville Palms: substantially renovated multi-family compound with 8 apartments (3,796 SF leasable space) in 2 stand-alone buildings on a 7,200 SF lot with Miami 21 T5-L zoning, allowing for short-term rentals, hotel, live-work, food service, general commercial, and recreation. As a vacation/short-term rental, this property could generate $250K+ gross income with ~$175K+ NOI, for a cap-rate ~9%! Bonus: property comes with valuable Palm Grove Historic District TDR entitlements. All in a non-flood zone, steps from all the hip MiMo District restaurants and shops, just a few blocks from the upcoming multi-billion dollar Magic City Innovation District, and minutes to Design District, Mid-Town, Downtown and The Beaches. Opportunity awaits!

Listed by Graber Realty Group LLC

Property Details

ID #
A11161394
Status
Sale
Type
Commercial, Industrial
Zip Code
33138
Year Built
1937
Construction
CBS Construction
Occupancy
Call Listing Agent
Type of Building
Hotel/Motel, Residential-Multi-Family
Utilities
Internet
Zoning Information
6107
Listing content provided by the Miami Association of REALTORS
Disclaimer: BBC: 3%, The offer of compensation is made only to participants of the MLS where the listing is filed.

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