Modern Duplex with Income
11515 Northeast 12th Avenue Miami, FL 33161
11515 Northeast 12th Avenue, Miami, FL, 33161
$880,000
For Sale
$880,000
Luxury duplex near Biscayne Park with income-generating potential.
Property Size2,331 SF
Lot Size0.19 Acres
Price / SF$377.52
Days on Market328
Property Features for 11515 Northeast 12th Avenue
General Information
- Standard status
- Active
- Size
- 2,331 SF
- Lot size
- 0.19 Acres
- Property subtype
- Residential Income / Duplex
Building Details
- Year Built
- 1960
Listing Agency
Beachfront Realty Inc
(305) 405-0615
Listed by
Monica Urrutia Juri · License #3196450
(305) 405-0615
Source
Compass
Added: Aug 23, 2025 Checked: Jul 16 at 4:17 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Beachfront Realty Inc
Investment Insights
Based on property information with market context.
This modern duplex features a total of 6 bedrooms and 2 bathrooms, with each unit containing 3 bedrooms and 1 bathroom. The property is situated on a large 8,428 square foot lot and includes 2,569 square feet of construction. A unique basement offers the potential for conversion into an additional unit. The duplex has been renovated and includes impact windows, central air conditioning, and updated electrical systems. Each unit features an open kitchen with a bar, a family room, and a private yard with fruit trees. Located three blocks from Biscayne Park and Miami Shores, the property is also near the Biscayne corridor and Whole Foods. Unit 11515 is currently rented for $2,800 with a lease expiring in December 2026, and Unit 11517 is rented for $3,100 with a lease also expiring in December 2026. The property offers potential for short-term rentals, with an estimated monthly income of $8,000.
Key Highlights
- Duplex with two 3‑bedroom, 1‑bathroom units, offering immediate rental income potential.
- Strategic location: close to Biscayne Park, Miami Shores, Biscayne corridor, and Whole Foods.
- Large 8,428 sq ft lot with 2,569 sq ft of construction, including a unique basement with conversion potential.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.3k | $30.60 |
| − Vacancy | −$4.5k | −$1.95 |
| EGI | $66.8k | $28.65 |
| − OpEx | −$20.0k | −$8.60 |
| NOI | $46.7k | $20.06 |
2,331 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$667.8K
$584.4K – $779.2K
NOI $46,749 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$615.2K
$538.3K – $717.7K
NOI $43,061 @ 7.0% cap · market cap 4.89%
Theoretical Best
Specialty Retail
$1.57M
$1.38M – $1.84M
NOI $110,141 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Luxury duplex near Biscayne Park with income-generating potential.
Where is this duplex located?
The property is located at 11515 Northeast 12th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Duplex with two 3‑bedroom, 1‑bathroom units, offering immediate rental income potential.; Strategic location: close to Biscayne Park, Miami Shores, Biscayne corridor, and Whole Foods.; Large 8,428 sq ft lot with 2,569 sq ft of construction, including a unique basement with conversion potential.
