1025 NW 31ST AVE Miami, FL 33125
8 Beds
5 Baths
2,432 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 2,432 sqft
Price per Sqft $226
Subdivision Borel Sub
MLS Listing ID TB8449729
Bedrooms 8
Full Baths 5
HOA Y/N No
Year Built 1947
Annual Tax Amount $9,499
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type Single Family Residence
Source Stellar MLS
New Construction false
Property Description
The main home is a renovated 3-bed, 1-bath with great curb appeal, a carport, a wide driveway, and extra parking. Inside, it features a bright open layout, wood-look floors, modern kitchen with warm cabinetry and a built-in bar, and an updated bath. Roof, AC, and water heater were REPLACED WITHIN THE PAST YEAR!
In the backyard, the property transforms into a true income-generating compound with seven additional units. Several have partial updates, while others need light TLC, and the deep lot provides impressive space and potential.
Current rental setup: the main 3/1 is vacant. Three separate 1/1s bring in $1,100 and $1,200 per month, with one currently vacant. Another 1/1 with a kitchen brings in $2,000. Two shed/storage units sit in the back- one currently being used for storage, the other rented for $500. All tenants are on month-to-month verbal agreements.
As-is, the seller collects $4,800 per month, with three units- including the main house- vacant, and existing are below market. With minimal improvements and proper leasing, you can significantly increase rents, fill vacancies, and realistically double or even triple the income, boosting cash flow and long-term value.
Home is sold as-is; buyer should verify any zoning or city requirements for continuing the current setup.
This is a rare chance to secure a high-upside investment compound in the heart of Miami. Opportunities with this level of cash-flow potential, expansion possibilities, and long-term value simply don't hit the market often. Move quickly- deals like this do not last!
Location
State FL
County Miami-dade
Community Borel Sub
Area 33125 - Miami
Zoning 0100
Interior
Interior Features Other
Heating Central, Electric
Cooling Central Air
Flooring Other
Furnishings Negotiable
Fireplace false
Appliance Other
Laundry Other
Exterior
Exterior Feature Other
Utilities Available Other
Roof Type Other
Garage false
Private Pool No
Building
Story 1
Entry Level One
Foundation Block, Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block,Stucco
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8449729
