1254 SOUTH WEST 2ND ST, Miami
$6,999,999 USD
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| Address | 1254 SOUTH WEST 2ND ST, Miami |
| Type of Property | Income / MultiFamily |
| Type of Business | Apartments, Residential-Multi-Family |
| Price | $6,999,999 |
| Property Status | Active |
| MLS Number | A11876594 |
| Property Size | 7500 |
| Lot Size | 7500 |
| Folio Number | 01-41-02-006-1990 |
| Zoning Information | T5-L |
| Days on Market | 3 |
Detailed Description: A very uniquely designed development being completed and set to be delivered with certificate of occupancy by January 2026 in Little Havana, this is a 21-unit multifamily bldg now available. This site can be operated in a traditional sense under City of Miami double density workforce program as apartments; 3 units 30% AMI, 2 units at 50% AMI, and 16 units at 140% AMI (average median income). It has a 100% parking exemption which reduced cost of construction to developers comparing alternate site in the area, and thereby keeps rents affordable to local residents. 20 Units are oversized Studios (easily converted to 1 bedroom, 400-460 sq.ft), and 1 one bedroom (500 sq.ft). An alternative strategy, motel / lodging use operators can get licensure to operate a combination of units for short-term rental.
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Address Information
| State | Florida |
| City | Miami |
| County | Miami-Dade County |
| Zip Code | 33135 |
| Address | 1254 SOUTH WEST 2ND ST |
| Zip Code (4 Digits) | 2404 |
Financial Information
| Price | $6,999,999 |
| Price per Foot | $0 |
| Folio Number | 01-41-02-006-1990 |
| Tax Amount | $10,515 |
Full Descriptions
| Detailed Description | A very uniquely designed development being completed and set to be delivered with certificate of occupancy by January 2026 in Little Havana, this is a 21-unit multifamily bldg now available. This site can be operated in a traditional sense under City of Miami double density workforce program as apartments; 3 units 30% AMI, 2 units at 50% AMI, and 16 units at 140% AMI (average median income). It has a 100% parking exemption which reduced cost of construction to developers comparing alternate site in the area, and thereby keeps rents affordable to local residents. 20 Units are oversized Studios (easily converted to 1 bedroom, 400-460 sq.ft), and 1 one bedroom (500 sq.ft). An alternative strategy, motel / lodging use operators can get licensure to operate a combination of units for short-term rental. |
Property parameters
| Living Area | 7500 |
| Lot Size | 7500 |
| Total Acreage | 0.000 |
| Zoning Information | T5-L |
| Maximum Leasable Size | 7500 |
| Type of Property | Income / MultiFamily |
| Type of Business | Apartments, Residential-Multi-Family |
| Street Direction | South West |
| Listed with | Fausto Commercial Realty Consultants Inc |