Strategic Development Opportunity: Lot for Duplex with In-Law Quarters near Coral Gables
2993 SW 16th Ter, Miami, FL, 33145, US
Single FamilyStatus: active
$910,000
Estimated annual taxes: $13,389
3 Bedrooms
2 Bathrooms
1,522 ft² · 141 m²
— Garages
About this property
Attention investors and developers! This property in Grapeland represents one of the most versatile opportunities in the current Miami market. With a motivated seller and an oversized corner lot (7,650 ft²), the potential is limitless: from expanding the current structure to create a luxurious single-family residence to leveraging the duplex zoning for a high-profit development project. The house features legal guest quarters and natural light in every corner, along with the peace of mind that comes with a new roof. Its location just minutes from Miami's most iconic districts like Coconut Grove and Brickell ensures a solid investment and an unbeatable urban lifestyle.
Technical details & MLS (USA)
Year built: 1924
Stories: 1
Lot size: 7,650 acres
Zoning: 5700 (Duplex Zoning)
MLS area: 41
Special notes: SUBDIVISION GRAPELAND
Environment
Nearby schools
- ElementarySunset
- MiddlePonce De Leon
- High SchoolCoral Gables
Location on Google Maps
Open in MapsDetails & Features
Financial information
Annual taxes:$13,389
Additional features
-Residence with abundant natural light and a design that allows for custom modifications -Property includes legal "In-law quarters," ideal for rental or multigenerational families -Improved infrastructure: Features a recently installed roof -Master bedroom conveniently located on the first floor -Original block construction with central air conditioning and heating system -Spacious lot of 7,650 square feet offering ample space for massive expansions or renovations -Duplex Zoning: A unique feature that allows for total redesign to generate multiple income streams -High-demand location: Strategically situated near Coral Gables, Coconut Grove, and the financial district of Brickell -Full utilities: Connection to public sewer and public water service -Development potential: Perfect for investors looking to redevelop a historic property in a rapidly appreciating area -Included appliances: Dishwasher, Microwave, Refrigerator, and Washer