Description
6-unit MF property in Normandy Isle’s highest demand district central to City’s master plan. Covered land play steps from Normandy’s iconic fountain/monument, retail corridor and 71st street access to North Beach. 2nd option- add 3 units to existing (+$65K to GI).
Redevelopment- 1.25 FAR allows 8,915 SF (existing 3,552 SF RSF footprint) vertical 55 feet w/45% lot coverage; RM-1 density 9.79 units (+3). Exponential cash on cash return + yield on capital growth + positive cash flows ($132K GI) through shovel-ready.
Owner CAPEX (2020)- Plumbing/Sewer, Irrigation/landscaping, (coin) W/D Room, Stucco/Exterior (2019/2022), Kitchens/Baths/Floors, rooftop central A/C, roof (2014) & 6 FPL meters.
5 Parking Spaces + city lots (rear)
**DO NOT DISTURB TENANTS-PROPERTY UNDER SURVEILLANCE**
