Greetings Investors,
Today we are excited to report that development on the long awaited Ludlam Trail is finally slated to begin. The trail is an exciting new development project planned for an old abandoned railway that runs from along SW 69th Ave from NW 7 St down to US1. You can see the entire map by going to the official Ludlam Trail website http://ludlamtrail.org/map/. There are several phases planned for the development and many are for apartments as opposed to properties that real estate investors could capitalize on. However, under the “rising tide lifts all ships” principal as well as the outdoor spaces and biking/walking trail that are planned we feel that this is going to have a net positive affect on property values in this part of Southwest Miami-Dade.
The best part is that the trail runs through an area of properties that are currently older and less well cared for than in the neighborhoods further to the south and west that make up the City of South Miami. These properties are perfect for purchasing at a lower price and then improving as rental properties. Here is a link to a typical neighborhood in this area…https://goo.gl/maps/3KLRU394Me32
As you can see this is a very nice area that has older homes that are built well. Combine that with the proximity to 826 and Coral Gables dining and nightlife and you have a highly desirable neighborhood that is currently priced cheap compared to surrounding neighborhoods. The area also has quick access to AD Doug Barnes Park and Tropical Park so with the addition of this new development the entire area should see appreciation that outpaces surrounding areas. If you can get in now before the real development begins you should be able to beat the wave and realize some nice gains in both property value and rental income over the next several years and going on for decades to come!
If you have other questions regarding South Florida real estate investing please call us at 305-517-3900.