258 NE 55TH TERRACE, Miami, Florida, United States, 33137

474,999

for Sale

4,750

About the property:

INCREDIBLE INVESTMENT OPPORTUNITY IN THE HEART OF MIAMI!!! This versatile property is ZONED FOR DUPLEX USE and features a 3-BEDROOM, 1-BATHROOM MAIN LIVING AREA along with an additional 1-BEDROOM, 1-BATHROOM LIVING SPACE, offering tremendous potential for MULTIGENERATIONAL LIVING, RENTAL INCOME, or an owner-occupant renovation. The main 3/1 has been PARTIALLY RENOVATED, featuring a NEW KITCHEN AND BATHROOM, providing a great head start for future improvements! Enter through the COVERED FRONT PORCH into an enclosed entryway featuring wood-look flooring and natural light. Continuing into the SPACIOUS LIVING AREA, an exposed wood-beam ceiling and open footprint offer a BLANK CANVAS for a complete transformation. Further into the home are TWO BEDROOMS, one featuring a spacious layout and ceiling fan, while the other requires COMPLETE RENOVATION, with portions of the walls and ceiling already opened up. Towards the rear of the main living area is the NEWLY RENOVATED KITCHEN, featuring sleek white cabinetry, modern countertops, recessed lighting, and wood-look flooring. Nearby is the BEAUTIFULLY UPDATED FULL BATHROOM, complete with marble-look tile, a glass-enclosed walk-in shower, modern vanity, and updated fixtures. These improvements provide an excellent foundation for completing the rest of the home. Along the LEFT SIDE OF THE PROPERTY, a private walkway leads to the additional 1-BEDROOM, 1-BATHROOM LIVING AREA with its own separate entrance. This portion requires EXTENSIVE RENOVATION, with exposed framing, damaged ceilings, and unfinished interior spaces, offering an opportunity to RECONFIGURE AND RESTORE the existing layout. Continuing past this area is an ADDITIONAL EXTERIOR LAUNDRY ROOM, providing extra utility space. Additional features include a ROOF OF UNKNOWN AGE (Approximately 34 years old), WORKING WINDOW AC UNITS from 6 months to 6 years old, and NO HOA. With DUPLEX ZONING, a FLEXIBLE LAYOUT, and partially completed renovations, this property offers tremendous potential for a FIX-AND-FLIP, LONG-TERM RENTAL, or owner-occupant renovation, subject to applicable approvals. Conveniently located near WYNWOOD, the MIAMI DESIGN DISTRICT, major highways, shopping, dining, and BEAUTIFUL SOUTH FLORIDA BEACHES—this is an incredible opportunity to RENOVATE, REIMAGINE, AND UNLOCK ITS FULL POTENTIAL!

Property Type:: Single Family Residence

Status:: for Sale

House Style:: Other

Bedrooms:: 4

Bathrooms:: 2

Full Bathrooms:: 2

Acres:: 0.11

Square Feet:: 1916

Area:: 99999 - Unknown

Central A/C:: Yes

Central A C Details:: Mini-Split Unit(s)

Water:: Public

Heating:: Ductless

Exterior:: Other

Interior Features:: Other

Appliances:: Other

Sewer:: Public Sewer

Directions:: Exit Miami International Airport and follow signs for FL-112 East. Merge onto FL-112 East toward I-95. Take the exit onto I-95 North. Take Exit 6A toward NW 62nd Street. Head east on NW 62nd Street. Turn right onto NE 2nd Avenue. Turn left onto NE 5