251 34th Terrace, Miami, FL 33127

$960,000 — Active

Property Features

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Unapproved Short Sale. Exceptional opportunity to acquire an income-producing duplex in the heart of Wynwood with significant redevelopment potential. Currently fully rented, this property offers immediate cash flow while providing investors and developers the opportunity to capitalize on one of Miami’s fastest-growing neighborhoods. Zoned T4 with the NRD-2 Overlay, the property allows for the development of up to 18 residential units. The neighboring property at 241 NW 34th Terrace allows for up to 13 residential units, creating a unique assemblage opportunity with the potential for a larger-scale development project.Added advantage: develop without on-site parking by contributing to the applicable parking fund, maximizing flexibility. Near Wynwood, Midtown, Design District, Downtown Miami, and major corridors, offering current income plus long-term upside.Property Highlights: Short Sale Opportunity, Fully rented duplex with immediate income, T4 Zoning with NRD-2 Overlay, Development potential for up to 18 units, Adjacent to 241 NW 34th Terrace (up to 13 units), Potential assemblage opportunity, No on-site parking required (parking fund contribution applies), Prime Wynwood location, Minutes to Midtown, Design District, Downtown Miami & I-95, Ideal for investors and developers.Buyer to independently verify zoning, density, development rights, assemblage potential, and parking requirements.

▼ Price Reduced — originally listed at $1,150,000

Property Details

  • Listing ID: A11925609
  • Status: Active
  • Listing Date: 2024-12-20
  • Property Type: Quadruplex
  • Subdivision: WYND WOOD PARK
  • County: Miami-Dade
  • MLS Area: 2310
  • Bedrooms: 0
  • Full Bathrooms: 0
  • Living Area Sq Ft: 2,784
  • Year Built: 1926

Financial

  • List Price: $960,000
  • Original List Price: $1,150,000
  • HOA Fee: None
  • Taxes: $15,524/yr

Features & Amenities

  • Cooling: Central Air
  • Heating: None, Separate Meters
  • Flooring: Tile
  • Construction: CBS
  • Roof: Flat

Courtesy of Lifestyle International Realty
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© 2026 Starfish Real Estate. Listings updated Nov 5, 2026 5:00 am. Listing data is derived from the Broker Reciprocity Program of the Realtor Association of Indian River County (RAIRC) and BeachsMLS. Properties listed by brokers other than Starfish Real Estate are identified with the applicable MLS logo and include the listing broker's name. Not all properties available through either MLS may be displayed. All MLS data is the copyrighted property of the respective MLS and its participants. Data is deemed reliable but is not guaranteed accurate and should be independently verified prior to entering into any transaction.