16 photos
295 42nd St
Miami, FL 33127
Listing courtesy of Compass Florida, LLC (Carl Gambino). Contact: [email protected].
A rare 10,800-square-foot double corner lot opportunity in a prime Miami location, offering both rental income and future redevelopment potential. The fully renovated 3-bedroom, 3-bath residence features an in-law suite, impact windows and doors, and lush, fenced grounds, providing a turnkey opportunity to generate income today. The property’s substantial lot size and two-lot configuration also offer the potential to redevelop into two single-family homes under T3-L zoning, subject to applicable approvals. Ideally located just three minutes from the Miami Design District and approximately five minutes from Wynwood and Midtown, the property offers convenient access to some of Miami’s premier dining, shopping, and entertainment. Recent nearby sales further underscore the area’s land and redevelopment activity. A compelling opportunity for an investor, end user, or developer seeking immediate utility with longer-term redevelopment potential.
- Principal and interest
- $7,585
- Property tax
- $2,248
- Homeowners insurance
- $942
- HOA(not in the listing)
- $0
An estimate, not a loan offer. The rate and insurance are assumptions to edit with your own quotes; Florida insurance varies widely by age, construction and distance to the coast. Flood insurance and PMI are not included.
Estimate: the price times the Miami-Dade County average total millage (18.49 mills, Florida Department of Revenue, 2025 average total millage by county), less the homestead exemptions. The actual bill depends on the city, the assessed value and special assessments. Save Our Homes then caps annual assessment increases at 3% or inflation, whichever is lower.
Outside the special flood hazard area. Flood insurance is optional.
Sources: FEMA National Flood Hazard Layer and the Florida Division of Emergency Management evacuation zones, looked up at the listing point. Confirm with an elevation certificate and your insurer.
Listing data provided by the Southeast Florida Multiple Listing Service (MIAMI REALTORS®). The data is deemed reliable but is not guaranteed accurate by the MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and is deemed reliable but is not guaranteed accurate by the MLS. Atlantic Luxury Advisors is a real estate team at Keller Williams Realty. Payment, tax and flood figures on this page are estimates by Atlantic Luxury Advisors, not MLS data.