255 East Lucy Street
38-Unit Multifamily Ready to build.
Marketing description
Rare opportunity to acquire a build-ready multifamily development site in Florida City, one of South Florida’s fastest-growing rental markets. This project includes approved plans for 38 modern rental units designed to meet the increasing demand for quality housing in the area. Strategically located near major transportation corridors, employment centers, and the Florida Keys, the property offers strong long-term growth potential and attractive projected financial performance. Stabilized projections estimate approximately $1.4M in annual gross rental income with projected NOI exceeding $900K annually. The development features a well-planned site layout, modern community design, ample parking, and strong rental absorption potential, making it an ideal opportunity for developers, multifamily investors, and operators seeking stable cash flow and long-term appreciation in a rapidly expanding South Florida market.
Investment highlights
Approved plans for 38 multifamily rental units
• Build-ready development opportunity in high-growth Florida City market
• Projected gross rental income of approximately $1.4M annually
• Projected stabilized NOI exceeding $900K annually
• Strong rental demand and population growth in South Florida
• Multifamily zoning in place with efficient site layout
• Strategic location with easy access to US-1, Turnpike, and the Florida Keys
• Ideal opportunity for developers, investors, and multifamily operators
• Long-term cash flow and appreciation potential
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