Earn income while waiting to develop. Existing Single Single Family Home 4 blocks to the beach and boardwalk on Miami Beach. Home has 4 bedrooms, 3 baths with a separate outside entrance to 4th Bedroom lockout. Could be used as a guest quarters. Private parking for 1 or 2 vehicles. Nice backyard. Fix up the house to get more rent, or knock it down and build a multifamily building. Build up to 7 units and four stories. Preliminary schematic designs already made for 4 one-bedroom units and 3 two-bedroom units on 3 stories. Could go up more. Perfect for a long term hold with a new development to take advantage of an area with mostly older product available. High demand location in miami beach (north beach) with very low vacancy, always offers to rent.
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