How Did This Grove Bungalow with Approved Plans Sell So Smoothly?

The Vision Behind the Sale

Some homes in Coconut Grove tell a story of history and potential. 4050 Loquat Avenue was one of those rare opportunities. A charming 2-bedroom, 2-bath bungalow with a walkable location and a buildable lot, this property offered not just livability, but a future.

Our seller, a savvy investor, had successfully rented the home for three years. During that time, they secured fully approved architectural plans and permits to redevelop the site into a new-construction dream home. Their original plan was to build. But with the arrival of their first child, priorities shifted. Selling the lot—with the hard work of permitting already complete—became the next smart move.

Bringing the Property to Life

The home itself had all the right ingredients for Coconut Grove living: timeless architecture, lush landscaping, and a solid structure in a prime location. But the added value came from the shovel-ready redevelopment opportunity. Buyers could live in it, rent it, or immediately build new—all with permits in hand.

We leaned into this duality, marketing the property both as a cozy Grove bungalow and a builder-ready lot. This strategy allowed us to connect with a broader buyer pool—from investors to end-users.

Our Marketing Strategy

When a property has both charm and future value, the marketing has to speak to both:

• We crafted listing copy that emphasized the livable condition, Grove aesthetic, and approved new-build plans.
• Professional photography captured the home’s potential from every angle.
• Outreach focused on local developers, end-users, and international buyers.

After two months of strategic showings, we advised a $50,000 price adjustment. The goal: spark urgency and secure serious attention. It worked. Soon after the reduction, the right buyer emerged—a cash buyer ready to move.

Finding the Right Buyer

This wasn’t a quick close. The buyer was wiring funds from abroad in stages, which added complexity. Educating the seller on international banking timelines and remaining flexible with extensions was key.

Another challenge arose during the septic tank inspection. The first inspector submitted a flawed report—citing a crack based on a video recorded by an assistant. The buyer, dissatisfied, ordered a second inspection. The next vendor did a full cleaning and confirmed the tank and drainfield were in excellent condition.

Our commitment to collaboration and clear communication preserved trust between buyer and seller—ensuring the deal stayed on track.

The Results

On November 14th, 4050 Loquat Avenue closed for $1,617,000. Here’s what made this sale a success:

• A unique product positioned with dual value: livable now, buildable tomorrow
• Strategic pricing, resulting in a timely offer from a cash buyer
• Clear coordination across international finance and inspection challenges
• A smooth close and a satisfied seller, who has already hired us to help with his next purchase

Why Sellers Choose Riley Smith Group

When it comes to selling a home in Coconut Grove, experience matters. Riley Smith Group understands the nuance of marketing both lifestyle and land value.

We bring:

• A sharp eye for positioning properties with redevelopment potential
• Local knowledge to guide pricing and timing
• Steady, professional deal management—even when transactions get tricky
• A proven network of qualified buyers and agents

With over $2 billion in career sales and 2,900+ Miami homes sold, Riley Smith Group is one of South Florida’s most trusted names in real estate. Led by Coconut Grove native Riley Smith, our team delivers results rooted in strategy, connection, and market intelligence.

Thinking About Selling in Coconut Grove?

Whether you’re holding a rental, an investment property, or a dream you haven’t yet built, Riley Smith Group can help you take the next step.

Thinking about selling your home in Coconut Grove? Contact Riley Smith Group — the trusted experts in Miami real estate.