Town Park Village I Co Op
500 Northwest 17th Street, Miami, FL, USA ,
EXECUTIVE SUMMARY
Florida Realty of Miami is pleased to exclusively present an opportunity to acquire a 6.37-acre +/- site in Overtown/Downtown, Miami, FL. This property would be best suited for a workforce housing developer. It is located in the heart of Downtown, Miami. With Jackson Memorial Hospital being right down the street and their need to continue to accommodate traveling nurses, the longtime residents and the 33 acres of public space that the city of Miami is going to use to build the Underdeck, this location is primed to be a home run for any developer that comes in and helps to continue to beautify the Overtown area.
PROPERTY FACTS
Price $38,000,000
Price Per Unit $255,034
Sale Type Investment
Sale Conditions. Redevelopment Project
No. Units 149
Property Type Multifamily
Property Subtype. Apartment
Apartment Style Garden
Building Class C
Lot Size 6.49 AC
Building Size 125,696 SF
Average Occupancy 100%
No. Stories 2
Year Built 1970
SITE AMENITIES
Gated
UNIT MIX INFORMATION
DESCRIPTION NO. UNITS SF
3+1 74 866 - 954
4+1 73 983
ZONING
Zoning Code R2 (Parcel ID: 01-3136-067-0001 Lot Size: 6.37 - acre +/- Zoning: T6-8**May qualify for SB102. 600 units may be able to be built in two phases.)
Highlights
6.37 - acre +/- site
Overtown/Downtown area - Close to Midtown, Jackson Memorial Hospital, Kaseya Center (formerly AAA Arena), Venetian Causeway.
SB102 - May allow 600 units in two phase for workforce housing developer.
Right across from 33 acre green space - Underdeck development that will be a wonderful amenity for residents.
6+ ACRES in Downtown, Miami, FL is a PRIME LOCATION! Size is unheard of in 2023!
Mortgage amount
Down payment (%)
Interest rate (%)
Period
Total cost of mortgage:$47,419,006
Monthly payments:$131,719
