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5838 Alton Rd
About This Property
The property is being offered with plans to build a brand-new residence, providing buyers with a significant head start toward developing their dream home. Whether envisioning a modern architectural masterpiece or a timeless coastal estate, this lot delivers the ideal canvas for new construction in a prime Miami Beach location.
With strong redevelopment activity throughout the area, this offering represents an outstanding opportunity for end users, investors, or developers looking to capitalize on the potential of building a brand-new home in a thriving market. The combination of location, lot size, and included plans makes this a compelling and turnkey development opportunity.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 16, 2026 | Listed by Miles Goldstein Real Estate | $2,500,000 | |
| Listed by Miles Goldstein Real Estate | |||
| Dec 20, 2024 | Sold | ||
| Sold | |||
| Dec 17, 2024 | In contract | - | |
| In contract | |||
| Nov 21, 2024 | Relisted | $1,200,000 | |
| Relisted | |||
| Nov 8, 2024 | In contract | - | |
| In contract | |||
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About La Gorce
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
$5,500 /mo
- 1 Bed
- 1 Bath
- 820 ft²
$7,000 /mo
- 3 Beds
- 2 Baths
- 1,700 ft²
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017