$650,0002515 NE 182nd Street, North Miami Beach, FL 33160

3 bd · 2 ba · 1,475 sqft · Price cut $30,000 · On the market about 81 days · Active

Listing courtesy of Academia Real Estate Corp · 352-214-5547 · BeachesMLS

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Details

• TypeHouse
• Beds3 bd
• Baths2
• Size1,475 sqft
• Year built1930
• ViewGarden
• LaundryLaundry Tub
• NeighborhoodOJUS SUB
• ZIP33160
• MLS #A12071061
• To the beachAbout 1.9 mi (straight line to the nearest ocean beach, OpenStreetMap; not a drive time)

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From the listing

Leased and producing: about $5,000 a month, roughly $60,000 a year gross, month to month, tenants in place.The expensive systems are done. New impact windows throughout, new electrical panel, PVC supply plumbing and an owned solar system. The roof is at the end of its service life and needs replacement; the price reflects that.A legal single-family home with an unusually flexible plan: interconnected living areas that close off behind interior doors, three kitchen and prep stations including a main kitchen plus separate kosher and utility sinks, and more than one entrance. Hold it leased, occupy part and rent the balance, or open it up as one house.Then the land. 6,250 SF zoned 3050 UC-Edge Residential in Miami-Dade's Ojus Urban Area District, where the R/Edge category allows up to 18 dwelling units per net acre at two stories. On this 0.14-acre parcel that math supports roughly two units before setback, parking and platting review. The county already puts $312,500 of market value in the land alone, 69 percent of the total, and Ojus is densifying around it. Carry the income, pursue entitlements, then build. Buyer to verify all development rights with Miami-Dade RER.About 1.5 miles to Aventura Mall, the Brightline Aventura station and Biscayne Boulevard shopping and dining. Unincorporated Miami-Dade: no city tax, no association.Sold as-is, tenant occupied, 24-hour notice. Flood Zone AE/X. PACE assessment on the tax bill; see Broker Remarks. COMPLETE PROPERTY SUMMARYINCOME- Currently leased, approximately $5,000/month, roughly $60,000 per year gross- Month-to-month tenancy, tenants in place- Rent roll available to qualified buyers on request- Sold subject to existing tenanciesWHAT IS ALREADY DONE- New impact windows throughout- New electrical panel- PVC supply plumbing- Owned solar system (financed on an unsecured personal loan; no lien against title)- Renovated bathrooms, new drywall, laminate flooring- Newer A/CWHAT IS NOT- The roof is at the end of its service life and requires replacement. The price reflects it. Buyer should budget accordingly and confirm insurability; most carriers and lenders require a roof with remaining service life.- Realistic financing paths are cash, conventional with a repair escrow, or FHA 203K renovation financing.THE HOUSE- Legal single-family residence (Miami-Dade Property Appraiser: 1 living unit)- 3 bedrooms, 2 full baths, one story, first-floor entry- 1,475 SF living / adjusted / total- Original 764 SF structure built 1930

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