My team and I have an amazing off-market investment for you right in the heart of South Beach. This is a great opportunity for you to get a 90% cash on cash return once the project is completed.
The address is 635 Lenox Ave, Miami Beach, FL 33139. Currently, it is an income-producing 4-unit apartment building, with the zoning allowing you to build an additional 6-8 units in the back as well as the option for short-term rentals (AirBnB). Right now, each unit is paying $1,300 month to month. We believe this deal is better for a short-term hold investment, 3-5 years, and then sell for $500,000-650,000 per door. If you go on the Miami Appraiser website you'll see that the land value alone is $1,650,000.
We are asking $1,280,000 - which is well below Market Value.
I have attached some pictures on this post regarding the property. Please review them and let me know if you have any questions or concerns.
I have more documents on this property, email me if you're interested.
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