Underline Twin Home Approved to Build - Covered land Play. Seller Financing. Redevelopment along The Underline, Miami

FULLY APPROVED SITE

REMAX 360 proudly presents a prime redevelopment directly along “The Underline”: 1866 SW 25th Terr “The Underline Development” with Current Income. This offering includes an income producing multi-family approved for (2) three story, luxury townhomes along "The Underline". The opportunity consists of redevelopment of the existing $5,400.00 monthly and redeveloping two luxury townhomes. The lots benefit from favorable T5-R zoning, which allows for development density of 65 units per acre "by right”. The property sists in the TOD (transit orient development boundary) allowing for even greater density and intensity.

The property is currently a single-family home in the "Natoma Park" subdivision. The median listing home price in Natoma Park was $1.5M in December 2022, trending up 22% year-over-year. The median listing home price per square foot was $613. The existing property is 2,100 ft on a 5,200 ft lot. The property abuts the underline directly to the South. In our analysis, the highest and best use is as a redevelopment for either two upscale twin homes or four-row house townhomes. The underline will experience new development and revitalization.