Prime Luxury Residential Development Site

Build 31 apartment/hotel units

build 10,500sf of luxury condominiums

Income producing guest house - $12,000/mONTH

SOUTH OF FIFTH STREET 

242 Washington Avenue  
Miami Beach, FL 33139

Price

$4,999,999

$3,399,999

DETAILS

Lot Size: 7,000 Square Feet
Buildable SF: 10,500 Square Feet
Lot Dimensions: 50 x 140
Zoning: R-PS2
Height Limit: 40 Feet
FAR: 1.5

Guest House Description

- 1,435 Adjusted Square Feet
- 10-foot ceilings with Keystone Floors
- Fully Equipped Kitchen
- Steam Shower
- Gas BBQ and Large Pool
- Pool: 20’ x 50’ / 10 feet deep
- 2 Parking Spaces Covered and Privately Gated
- Year Built: 2010

Highlights: 

  • Large 7,000 square foot Lot for Luxury Residential Development

  • Unique Land available for Immediate New Construction

  • Property is Free and Clear for New Design and not hampered by historic design constraints

  • This lot is situated on the Sunny Side of the Widest street South of Fifth (Washington Avenue) and enjoys an Abundance of Natural Light

  • Large Landscaped Park at the entrance to the Property provides Beauty, Privacy and Tranquility to this special location

  • Live in this award-winning onsite guesthouse, beautifully landscaped and fully equipped with 10-foot ceilings, Gas BBQ, Large Pool, and 2 Covered and Privately Gated parking spaces

  • Earn income by renting the guest house while you design and build 10,500 square feet of luxury residential

  • South of Fifth Street is a Flourishing luxury condo market with New low-rise luxury inventory in Short Supply

  • Greatest location South of Fifth Street, known as SoFi, this neighborhood is one of the most Exclusive and Desirable residential neighborhoods in the world

  • Located on the southernmost tip of South Beach, Miami Beach, SoFi is a tropical oasis peninsula surrounded by water on three sides

  • Sunbathers are a few steps away from South Beach's most popular stretch of sandy beach and sparkling turquoise ocean

  • Boaters live the Waterfront Lifestyle with Miami Beach Marina a short stroll away

  • Walk to Miami Beach's best restaurants including Joe’s Stone Crab, Milos, Prime, Prime Italian, Prime Fish, Il Mulino, Planta and so many more

  • Bikers, Runners, Active Individuals and Families also enjoy the nearby 18-acre South Pointe Park, which includes the Government Cut Waterfront Walkway. Park enthusiasts watch beautiful Cruise Ships pass by on their way to and from the Port of Miami with the majestic Downtown Miami Skyline as a backdrop

With all of these features and more, this Property is a One-Of-A-Kind South of Fifth Street Development Opportunity!