Covered Land Play with In-Place Multifamily Income in the Heart of Wynwood
Gridline Properties is proud to present 118 NW 24th Street—an exceptional covered land investment
located in the urban core of Wynwood, one of Miami’s most transformative neighborhoods. Situated on a
7,500 SF lot, the property is improved with a 2,620 SF multifamily structure configured into eight residential
units, currently producing stable in-place income.
With flexible T5-O zoning, this site offers a unique opportunity to generate immediate cash flow while
strategically land banking for future vertical development.118 NW 24th Street is ideally positioned
for future repositioning or redevelopment up to five stories, with a mix of residential, retail, or short-term
rental uses.
Gridline Properties
Features & Details
Learn about the features and details of A11827380
Property Details
Property Type
Quadruplex
Living Area
2,983 sqft
Year Built
1927
Lot Size
-
Stories
-
Annual Tax
$55,984.00
List Date
6/23/2025
Updated
7/7/2025
Last Checked
Recent
MLS Number
#A11827380
Brokerage
Gridline Properties
Postal Code
33181
Area
Miami-Dade
City
Miami
Additional Property Features
Occupancy
CallAgent
List Price
$3,925,000.00
Unit Number
-
Construction
Other
Heating
None
Fireplaces
-
Garage
-
Parking Type
No
Pets Allowed
No
Air Conditioning
Other
Elevator
No
Locker
No
Swimming Pool
None
Patio
No
Basement
No
Den
No
Central Vacuum
No
Garage Type
No
Additional Listing Information
Walk Score
–
Property Manager
-
Utilities Included
None
Furnished
No
Assessment Year
2025
Assignment
No
Extras Included
None
Inside
Bedrooms & Baths
0 Bed, 0 Bath
Ensuite
Yes
Bathrooms
0
Flooring
Mixed
Show More Features
Price history
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Real estate trends
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Mortgage Calculator
Estimate monthly payments for null
$0
20.0%
$3,925,000
1%
5.25%
10%
25 Years
Monthly
Estimated Monthly Payment
$18,816
Show More Details
Cash Flow Analysis
Mortgage Payment:
$18,816.38
Monthly Payment:
$23,481.71
Break Even Down Payment:
100%
Cash Flow
$0
Disclaimer: This calculator provides estimates for informational purposes only. Consult a financial advisor for personalized advice.
Similar listings
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Discover this impressive quadruplex in the heart of Arch Creek East, Miami. This well-appointed property offers 2,983 square feet of living space. Originally built in 1927. Offered at $3,925,000.00 Don't miss this opportunity to own in one of the area's most desirable locations.
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Based on information from the Miami Association of REALTORS®. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information.