2515 NE 182nd Street, North Miami Beach, FL 33160

Description

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; 711 SF addition built 1981- CBS (concrete block and stucco) construction- Three kitchen and prep stations: main kitchen plus separate kosher and utility sinks- Interconnected living areas that separate behind interior doors; more than one entrance- Guest / in-law configurationLOT AND SITE- 6,250 SF lot, 50 x 125- Circular drive plus additional driveway parking- Deck, mature avocado and mango trees, room for a pool- Garden outlook, east front exposureREDEVELOPMENT POTENTIAL- PA zoning 3050: UC-Edge Residential (R), maximum 2 stories- Miami-Dade Ojus Urban Area District. Under the county's Urban Center district regulations, the Residential (R) category in the Edge sub-district permits up to 18 dwelling units per net acre.- Applied to this 0.1435-acre parcel, that allowance supports roughly two dwelling units before setback, parking, platting and site-plan review.- Properties designated R are exempt from the district's minimum floor-area-ratio requirements.- The 2021 MLS listing for this property advertised the same 18-units-per-acre allowance and a future development opportunity.- 2026 county market value $453,560, of which $312,500 is land: 69 percent of total value sits in the dirt.- The existing structure dates to 1930, so redevelopment is a live option, and the in-place rent can carry a hold while entitlements are pursued.- Ojus continues to densify, with the county processing density increases within the surrounding district.- Buyer to independently verify density, height, setbacks, parking, platting, concurrency and all development rights with Miami-Dade Regulatory and Economic Resources (RER).LOCATION- Ojus, unincorporated Miami-Dade County- Approximately 1.5 miles to Aventura Mall- Approximately 1.5 miles to the Brightline Aventura station, with service to Miami, Fort Lauderdale, Boca Raton, West Palm Beach and Orlando- Biscayne Boulevard retail, grocery and dining within roughly a mile- Greynolds Park nearby; Atlantic beaches a short drive eastUTILITIES- Municipal water, municipal sewer, electric cooling, public roadOWNERSHIP, TAXES AND TERMS- Unincorporated Miami-Dade County; no municipal tax, no homeowners association- 2024 taxes $11,431; no homestead exemption- PACE assessment on the tax bill (A/C and windows); balance to be verified. Most conventional and FHA lenders require payoff at closing.- Flood Zone AE / X- Corporation owned, sold AS-IS- Tenant occupied; 24-hour notice, appointment through the listing officeBuyer to verify all measurements, square footage, zoning, permit history, lease terms and lot dimensions.