Real Estate by Fania — Stefania Riverin
(786) 828-0091

$799,000

473 NE 61st St

5 bd · 2 ba · 1,520 sq ft

47 days on marketSingle Family Residence
473 NE 61st St, photograph 1 of 35473 NE 61st St, photograph 2 of 35473 NE 61st St, photograph 3 of 35473 NE 61st St, photograph 4 of 35473 NE 61st St, photograph 5 of 35473 NE 61st St, photograph 6 of 35473 NE 61st St, photograph 7 of 35473 NE 61st St, photograph 8 of 35473 NE 61st St, photograph 9 of 35473 NE 61st St, photograph 10 of 35473 NE 61st St, photograph 11 of 35473 NE 61st St, photograph 12 of 35473 NE 61st St, photograph 13 of 35473 NE 61st St, photograph 14 of 35473 NE 61st St, photograph 15 of 35473 NE 61st St, photograph 16 of 35473 NE 61st St, photograph 17 of 35473 NE 61st St, photograph 18 of 35473 NE 61st St, photograph 19 of 35473 NE 61st St, photograph 20 of 35473 NE 61st St, photograph 21 of 35473 NE 61st St, photograph 22 of 35473 NE 61st St, photograph 23 of 35473 NE 61st St, photograph 24 of 35473 NE 61st St, photograph 25 of 35473 NE 61st St, photograph 26 of 35473 NE 61st St, photograph 27 of 35473 NE 61st St, photograph 28 of 35473 NE 61st St, photograph 29 of 35473 NE 61st St, photograph 30 of 35473 NE 61st St, photograph 31 of 35473 NE 61st St, photograph 32 of 35473 NE 61st St, photograph 33 of 35473 NE 61st St, photograph 34 of 35473 NE 61st St, photograph 35 of 35

Listing courtesy of Douglas Elliman. 305-695-6070

From the MLS

Bedrooms
5
Bathrooms
2
Living area
1,520 sq ft
Asking per square foot
$526
Year built
1925
ZIP code
33137
MLS number
A12082857

What the listing says

CASA MiMo - LIVE IT. RENT IT. REDEVELOP IT. A rare opportunity to acquire an income-producing property with future development potential in one of Miami’s most dynamic and centrally located urban neighborhoods. Currently operating as a successful Airbnb, CASA MiMo offers an immediate opportunity for investors seeking short-term rental income while holding a strategically located piece of Miami real estate. The approximately 1,520 SF property sits on a 4,992 SF lot and offers 5 bedrooms and 2 bathrooms in its current configuration, creating exceptional flexibility for guests, owner-users and investors alike. The real upside is in the land. Zoned T4-R (General Urban – Restricted) under Miami 21, the property offers potential for future redevelopment, including a new single-family residence or two-family/duplex project, with T4 zoning generally allowing development up to 3 stories, subject to applicable City requirements and approvals. Ideally positioned near Miami’s Upper Eastside, MiMo District, Little River, Design District, Midtown and Wynwood, this is the type of property investors search for: income today, land value tomorrow, and multiple potential exit strategies. Continue operating the existing income-producing property, reposition it as a duplex, create a Miami residence, or explore redevelopment of the site. Opportunities combining location, existing income and redevelopment potential at this price point are increasingly difficult to find.

Description supplied by Douglas Elliman.

Before you offer on this one

The asking price is the easy part. What decides a Miami condo purchase sits in the association’s budget, its reserve study, the last twelve months of board minutes and the milestone inspection — and in whether the declaration permits what you intend to do with it.

Stefania represents buyers. She does not hold this listing and has no stake in this one selling over any other, which is the position you want the person reading those documents to be in.

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