8221 Crespi Blvd

Waterfront Miami Beach development potential! Currently a duplex this 2-unit multi-family development offers waterfront views, a private dock with one fixed bridge access to the ocean. The neighborhood is undergoing redevelopment with many new high rise and retail buildings under construction nearby on the 79th causeway and $2 billion investment on nearby Ocean Terrace. Current rent roll below market $7750. Buildable square footage max FAR 1.25, which allows 7,188 sq feet living and five stories high. There is city notice requiring the owner to permit and build a common area laundry which the seller says will cost $25,000 but seller says this is a buyer responsibility to build if they keep the structure, but $0 cost if they knock and build new. Seller will only accept full price offer. 2-3 53 42 BISCAYNE BEACH SUB PB 44-67 LOT 14 BLK 9 LOT SIZE 50.000 X 115 COC 22762-1375 09 2004 1