Eleven-unit garden apartment community in unincorporated Miami-Dade County, one block west of Biscayne Boulevard between Miami Shores and North Miami. Single-story reinforced concrete, built in 1947, renovated in 1997 and 2019, arranged around a central lawn with eleven surface parking spaces. Seven studios and four one-bedrooms. Ten units are occupied;… Read More the eleventh is ready for immediate lease. Each unit is separately metered for electric, and roofing, windows, and mechanical systems can be inspected and priced without opening walls.Priced at $2,475,000, or $225,000 per unit. That basis falls inside the band set by ten closed mainland trades since November 2025, including a 1948 fourplex one block away on NE 110th Terrace that sold for $223,750 per unit in May 2026. The pro forma applies market rents of $1,325 per studio and $1,835 per one-bedroom, figures well below the $2,244 submarket average asking rent, leaving room for growth on ordinary turnover. Pro forma figures are assumptions, not statements of current collections. Buyer to verify all information independently.Three institutional projects totaling 948 units are under construction within roughly a mile, delivering at rents this property does not compete with. The workforce demand those projects create operates in this price band. A full offering memorandum with comparable sale detail, the itemized expense build, and submarket documentation has been prepared for this offering. Read Less
Courtesy of Kevin Kohler, Keller Williams Legacy 954-358-6000
Listing Snapshot
Days Online
25
Last Updated
Property Type
Multi Family
Square Ft.
4,995
Lot Size
0.39 Acres
Year Built
1947
MLS Number
A12067670
30 Days Snapshot Of 33161
$187k
-28%
(avg) sold price
4
-55%
homes sold
134
-32%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1947, Construction materials: CBS, Toal building area: 4995, 1 total unit
Lot
0.39 acres
Property
Zoning: 3700
Roof
Shingle
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