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For sale
Residential income properties
FL
Miami
33179
1175 NE Miami Gardens Drive 103

First Floor Unit with Amenities

1175 NE Miami Gardens Drive 103 Miami, FL 33179

1175 NE Miami Gardens Drive 103, Miami, FL, 33179

$310,000

For Sale

$310,000

Two-bedroom unit with water views, amenities, and convenient location.

Property Size1,135 SF

Price / SF$273.13

AddedDec 23, 2024

Days on Market570

Last RefreshJul 15 at 10:20 am

Property Features for 1175 NE Miami Gardens Drive 103

General Information

Standard status: Active
Size: 1,135 SF
Property subtype: Condo/Townhome

Building Details

Year Built: 1969

Listing office Global Luxury Realty LLC

Listing date Dec 23, 2024

Source Exitrealty

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 Global Luxury Realty LLC

Investment Insights

Based on property information with market context.

This residential income property features a 2-bedroom, 2-bathroom unit situated on the first floor. The unit includes a spacious master suite with three closets. The kitchen offers water views, and there is a screened-in patio that opens to a grassy lawn. Hurricane-impact windows and doors are installed. Community amenities include a heated pool overlooking the water, a fully equipped gym, a sauna, billiards, ping pong, a kitchen facility, a community dance room, a BBQ area, a playground, and a jogging path along the canal. Security is provided with cameras and a gated entrance. The property has no age restrictions and is within walking distance of a shopping plaza. The unit's size is 1135 square feet.

Key Highlights

First‑floor unit with direct access to a lush grassy lawn from the screened‑in patio.
Hurricane‑impact windows and doors for enhanced safety and security.
Comprehensive amenities including a heated pool, gym, sauna, billiards, and more.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$40.9k	$36.00
− Vacancy	−$2.7k	−$2.41
EGI	$38.1k	$33.59
− OpEx	−$17.2k	−$15.11
NOI	$21.0k	$18.47

1,135 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$299.5K

$262.1K – $349.5K (±1% cap)

NOI $20,967 @ 7.0% cap · market cap 6.76%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$766.1K

$670.4K – $893.8K (±1% cap)

NOI $53,629 @ 7.0% cap · market cap 17.30%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Royal Bahamian Condo Condominium Complex Handyman Buddies, LLC General Contractor

Suggested Use

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For sale
Residential income properties
FL
Miami
33179
1175 NE Miami Gardens Drive 103

What type of property is this?

Residential income property - Two-bedroom unit with water views, amenities, and convenient location.

Where is this residential income property located?

The property is located at 1175 NE Miami Gardens Drive 103 Miami, FL.

What is the asking price?

The asking price for this property is $310,000.

What are key features of this property?

This property features: First‑floor unit with direct access to a lush grassy lawn from the screened‑in patio.; Hurricane‑impact windows and doors for enhanced safety and security.; Comprehensive amenities including a heated pool, gym, sauna, billiards, and more.