Apartments For Sale
35,853 Sq Ft
Rare Edgewater property with assumable loan!
MILPORT was originally constructed in 1972 and consists of 42 units on six different stories and is located in the highly desirable area of Edgewater. Only 12 of the 42 units have been remodeled with the remodeled units generating an average of 27% more than non-remodeled units. The property is currently situated on a 0.51-acre lot with 38,853 of rentable square feet. One exciting feature is the highly coveted T6-36 zoning allowing the opportunity for an investor to convert the property into a 36-story high-rise. Another reason Investors should be excited about this property is the fact that it has been approved by the city for Short Term Rentals, allowing an investor to re-position the property and significantly increase the bottom line.