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$460,000 / 1120ft2 - Opportunity Zone Development Site T3-O - NW 58th ST - Twin Home (Miami)
NW 58th ST, Miami, FL 33127
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Price: $460,000
Property Summary:
2 bedrooms / 1 bathroom
1,120 sq ft conditioned
1,559 sq ft total
5,000 sq ft lot
T3-O zoning
Opportunity Zone eligible
No flood zone
What You Get:
A functioning 2/1 home ready to rent immediately. The property generates income from day one while you plan your development strategy. This is the smart entry point into Miami's fastest-growing corridor.
Development Path:
T3-O zoning removes the rezoning bottleneck. Build two homes on this lot without waiting years for municipal approvals. The existing structure provides cash flow during the permitting and construction phase, reducing your out-of-pocket carrying costs.
Location Advantages:
One block from the Cultural Arts Center. Directly adjacent to the Magic City Innovation District. Close to Wynwood, the Design District, Midtown, and Little River. Direct access to major highways and A1A. South Beach coastline minutes away.
Market Context:
This neighborhood attracts institutional capital and new development. Rents are rising. The comparable sale at 5802 NW 5th Ave (Miami, FL 33127) closed at $1,150,000, showing strong underlying values.
Qualifying Investment:
Opportunity Zone status unlocks potential capital gains deferral and exclusion benefits for eligible investors.
Contact Noah Otalvaro, Broker Associate at Steelbridge Realty: show contact info "