Ocean View Apartment with
14951 Royal Oaks Lane 1608 North Miami, FL 33181
14951 Royal Oaks Lane 1608, North Miami, FL, 33181
$369,500
For Sale
$369,500
Spacious 2 bed, 2.5 bath condo with ocean views.
Property Size1,758 SF
Price / SF$210.18
Days on Market491
Property Features for 14951 Royal Oaks Lane 1608
General Information
- Standard status
- Active
- Size
- 1,758 SF
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 2007
Listing Agency
United Realty Group Inc.
(786) 280-6422
Listed by
Denice Sant Anna PA · License #3213622
(786) 280-6422
Source
Exitrealty
Added: Mar 15, 2025 Checked: Jul 17 at 3:16 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 United Realty Group Inc.
Investment Insights
Based on property information with market context.
This residential income property features a large, open balcony with ocean views. The property has an open floor plan, granite counters, stainless steel appliances, and marble floors in the entryway kitchen. The master bedroom includes a jacuzzi and walk-in closets, while the second bedroom has a private full bath. The building offers a new pool, new gym, new tennis court, and a new kids' playground. Located in a secure, gated community, the property is situated across the street from Costco and close to FIU University. The unit is a large 2-bedroom, 2.5-bath condo with a total size of 1758 square feet.
Key Highlights
- Amazing ocean view and large open balcony.
- New amenities: pool, gym, tennis court, and kids playground.
- Large 2 bedroom, 2.5 bath condo with open floor plan.
Local Financial Insights For Apartment 5plus
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 | $51.5k | $29.28 |
| − Vacancy | −$2.3k | −$1.32 |
| EGI | $49.2k | $27.96 |
| − OpEx | −$22.1k | −$12.58 |
| NOI | $27.0k | $15.38 |
1,758 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$386.2K
$338.0K – $450.6K
NOI $27,037 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$891.9K
$780.4K – $1.04M
NOI $62,434 @ 7.0% cap · market cap 16.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Residential income property - Spacious 2 bed, 2.5 bath condo with ocean views.
Where is this residential income property located?
The property is located at 14951 Royal Oaks Lane 1608 North Miami, FL.
What is the asking price?
The asking price for this property is $369,500.
What are key features of this property?
This property features: Amazing ocean view and large open balcony.; New amenities: pool, gym, tennis court, and kids playground.; Large 2 bedroom, 2.5 bath condo with open floor plan.
