🏚️ Heavy Fixer in Miami | Priced for Rehab | Strong Spread to ARV

About this property

Attention rehabbers and value-add investors. We have an off-market Miami property that needs work but offers a compelling spread, this 5BD/3BA single-family home sits on an oversized 8,400 sq ft lot and is being offered at $285,500. With an estimated ARV between $510K and $525K, the deal still pencils out after accounting for a substantial renovation budget. The property requires a full renovation throughout. In addition, there are two detached rear efficiencies that need to be demolished, with demolition costs estimated at roughly $20K (considered in est rehab budget). The main home is currently vacant, one efficiency is vacant, and the remaining efficiency has a month-to-month tenant in place. Utilities are city water and sewer. This is not a lipstick rehab, there is hair on the deal, buyer assumes $30K lien (unpermitted work) - negotiable with city once brought to code. but for investors willing to get their hands dirty, the upside is there. Probate is in progress and expected to be ready for closing around July 30th. Bring your contractor and run your numbers-this one is priced with the challenges in mind.

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