Coconut Grove is bustling with investors, builders and home buyers snatching up original Grove homes on small lots that are prime for renovation or, more often than not, tear down and new construction.
Built in the early to mid 1900’s, these houses are approximately 940 to 2,330 square feet, on tree lined lots from 5,000 to 10,000 square feet. They are selling between $ 320,000 and $640,000 at an average selling price of $526,000 or $324 per square foot. This is well below the Grove average of $578 per square foot. A good investment indeed!
These Lilliputian houses are receiving multiple offers and selling fast, averaging 48 days on the market and selling for 94% of list price to sale price. And they are not short sales or foreclosures.
To view homes for sale in Coconut Grove, click on this link.
Coconut Grove real estate presents a phenomenal investment opportunity. If you would like to schedule a buyer or seller meeting, feel free to call me at 305-898-1852 or email me a note at Wellins.D@ewm.com