1427 2nd Ave ,Unimproved Multi Family (5+units), Coral Bay Manor for Sale

1427 2nd Ave for Sale

Price $2,650,000.00

• Lot size 30000
• Year Build
• Waterfront
• Zip 33034
• Style
• Parking Description
• Pool Yes
• Status Active

Description

Incredible value-add and development opportunity in a high-growth area! This 9-unit multifamily generates $7,971/month at 97% occupancy, offering strong cash flow. Includes a $300K transferable Affordable Housing Grant and $80K in recent capital improvements, Brand new roof (2025), impact windows (2025), and doors (2025). Additional: 24,000 SF adjacent vacant lot approved for 30 units, ideal for portfolio expansion or ground-up development. Zoned for flexibility and positioned for future growth. Rare opportunity for investors seeking stable income, upside potential, or both. Remarks are not guaranteed and should not be relied upon as representations or warranties, express or implied.

24 57 38 CORAL BAY MANOR PB 57-40 LOTS 14 & 15 BLK 3 LOT SIZE12000 SQ FT M/L

Corner Lot, Less Than 1 Acre

Incredible value-add and development opportunity in a high-growth area! This 9-unit multifamily generates $7,971/month at 97% occupancy, offering strong cash flow. Includes a $300K transferable Affordable Housing Grant and $80K in recent capital improvements, Brand new roof (2025), impact windows (2025), and doors (2025). Additional: 24,000 SF adjacent vacant lot approved for 30 units, ideal for portfolio expansion or ground-up development. Zoned for flexibility and positioned for future growth. Rare opportunity for investors seeking stable income, upside potential, or both. Remarks are not guaranteed and should not be relied upon as representations or warranties, express or implied.

City:Florida City,Zoning:3000,Horse Y N:1,List A O R:A-Miami Association of REALTORS,Tax Year:2024,Latitude:25.4606971,List Price:2650000,Listing Id:A11850691,Longitude:-80.4799271,Mls Status:Active,Utilities:1:Sewer Connected,2:None,Postal Code:33034,Street Name:2nd Ave,Coordinates:1:25.4606971,Lot Features:1:Less Than 1 Acre,Photos Count:5,Building Name:CORAL BAY MANOR,Days On Market:1,Listing Terms:1:Conventional,2:Cryptocurrency,Lot Size Acres:0.69,Lot Size Units:Square Feet,M I A M I R E_ Area:78,M L S Area Major:Coral Bay Manor,On Market Date:2025-08-02,Parcel Number:16-78-24-020-0550,Property Type:Commercial Land,Street Number:1427,Public Remarks:Incredible value-add and development opportunity in a high-growth area! This 9-unit multifamily generates $7,971/month at 97% occupancy, offering strong cash flow. Includes a $300K transferable Affordable Housing Grant and $80K in recent capital improvements, Brand new roof (2025), impact windows (2025), and doors (2025). Additional: 24,000 SF adjacent vacant lot approved for 30 units, ideal for portfolio expansion or ground-up development. Zoned for flexibility and positioned for future growth. Rare opportunity for investors seeking stable income, upside potential, or both. Remarks are not guaranteed and should not be relied upon as representations or warranties, express or implied.,County Or Parish:Miami-Dade County,Frontage Length:90,List Office Name:Canvas Real Estate,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:2280,State Or Province:FL,Street Dir Prefix:NW,Subdivision Name:CORAL BAY MANOR,Tax Annual Amount:7150,Unparsed Address:1427 NW 2nd Ave, Florida City FL 33034,Listing Agreement:Exclusive Agency,Building Area Units:Square Feet,Lot Size Dimensions:90x80,Lot Size Square Feet:30000,M I A M I R E_ L P Amt Sq Ft:88.3333,Original List Price:2650000,Public Survey Range:78,I D X Participation Y N:1,Showing Contact Type:1:Occupant,Syndication Remarks:Incredible value-add and development opportunity in a high-growth area! This 9-unit multifamily generates $7,971/month at 97% occupancy, offering strong cash flow. Includes a $300K transferable Affordable Housing Grant and $80K in recent capital improvements, Brand new roof (2025), impact windows (2025), and doors (2025). Additional: 24,000 SF adjacent vacant lot approved for 30 units, ideal for portfolio expansion or ground-up development. Zoned for flexibility and positioned for future growth. Rare opportunity for investors seeking stable income, upside potential, or both. Remarks are not guaranteed and should not be relied upon as representations or warranties, express or implied.,Additional Parcels Y N:1,Listing Contract Date:2025-08-02,Originating System I D:miamire,Public Survey Section:24,Showing Instructions:Call Listing Agent,Call Tenant,Street Number Numeric:1427,Tax Legal Description:24 57 38 CORAL BAY MANOR PB 57-40 LOTS 14 & 15 BLK 3 LOT SIZE12000 SQ FT M/L,Gross Scheduled Income:7971,Public Survey Township:78,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:9-unit MF w/ $7,971/mo income at 97% occ. $300K grant ($80K used). New roof/windows. Includes 24,000 SF lot approved for 30 units. Great upside!,Contract Status Change Date:2025-08-02,Internet Address Display Y N:1,M I A M I R E_ Ok To Advertise List:With Written Broker Approval,Internet Entire Listing Display Y N:1,