| 6955 Rue Vendome Miami Beach, FL 33141 |
| Listed Date YYYY/MM/DD:2023-09-16 | ID: 1011453884 |
| Price: $2,050,000 | County: Miami-Dade County |
| Approximate Lot Size: 7,131 |
| Area: 32 | Square Footage: |
| Property Tax: $15,654.00 |
| Sewer Description: Municipal Sewer | Zoning Information:3900 |
| Folio Number: 02-32-10-013-0670 |
| Number of Units: | Year Built: 1936 |
| Number of Parking Spaces:5 |
| Lot Description: Less Than 1/4 Acre Lot |
| Year Built Description: Resale | Gross Rent Income: $ |
| Net Operating Income: $ | Number of Stories: 2.0000 |
| Tax Year: 2022 | Tax Information:Tax Reflects No Homestead Tax |
| Legal Description: OCEAN SIDE SEC ISLE OF NORMANDY PB 25-60 LOT 28 BLK 5 LOT SIZE 56.600 X 126 OR 20170-1663 12 2001 4 COC 25489-1147 02 2007 4 |
| Assumable mortgage $625K at 3.88% plus 30% Seller Financing optional- 60% LTV at $1.975K
Renovated 6-unit MF with 10-15% upside in existing rents (as is) & massive value add to unlock via multiple avenues:
• Strategy 1: Add four (4) for units to existing footprint (total 10)- proforma $186K NOI equating to $3.1M valuation at 6% CAP
• Strategy 2: Full site redevelopment/covered land play- 1.25 FAR allows 8,915 SF (more than doubling existing 3,552 SF RSF footprint) & vertical up to 55 feet + rooftop with 45% max lot coverage; density 9.79 units (+3.79 + existing 6 units)
• Strategy 3- 2-folios assemblage, 10 existing units, combined footprint of 13,381 SF Lot w/allowance for 20,071 SF & 55 Ft (5-story) max height + rooftop. Call for price.
Reference Crexi listing DETAILS |
