Flip report generated Nov 27, 2024
The Flip Potential of
1620 SW 40th Ave Miami, FL
is medium.
Current Specs
20 Bed / 10 Bath
3,334 sqft
$690 per sqft
Estimated Value$2,300,000
Flip Advice
This multi-family property in Central Gables, Miami, is a substantial investment with 20 bedrooms and 10 bathrooms. Recent upgrades have improved its value, yet the high listing price of $2.3M and competitive comps showing a median sold price of around $3.06M suggest limited room for profit. The market dynamics and location are favorable, but the already renovated state may lower flip potential due to reduced ROI.
Consider marketing this property as an investment opportunity rather than a fixer-upper, leveraging the existing leases to attract buyers looking for immediate cash flow. Highlight recent renovations and the appeal of the Central Gables neighborhood. Pricing it competitively, within the range of nearby comps, will enhance its attractiveness in the market.
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