13-Unit Apartment
New
For Sale
$3,895,000
1248-1258 SW 3rd St, Miami, FL 33135
Residential Income, Miami, FL
Property Size6,000 SF
Lot Size0.34 Acres
Price / SF$649.17
Days on Market2
Property Features for 1248-1258 SW 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3901
Bedrooms
8
Full bathrooms
6
Rooms
Bedroom 4, Bathroom 4, Bedroom 8, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 7, Bathroom 5, Bedroom 1, Bedroom 3, Bathroom 6, Bedroom 6
Subdivision
LAWRENCE ESTATES LAND COS
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
01-41-02-006-3870
Size
6,000 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
2 54 41 PB 2-46 LAWRENCE ESTATE LAND COS SUB LOT 7 BLK 90 LOT SIZE 7500 SQUARE FEET OR 12360-3655 1284 1
Tax Annual Amount
12942
Legal Description
2 54 41 PB 2-46 LAWRENCE ESTATE LAND COS SUB LOT 7 BLK 90 LOT SIZE 7500 SQUARE FEET OR 12360-3655 1284 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1937
Floors in Building
2
Flooring type
Tile, Vinyl
Building materials
Brick, CBS (Concrete Block Structure), Block
Roof type
Flat, Tile, Barrel
Architectural style
Other
Listing Agency:
Douglas Elliman
(305) 677-5000
Listed By:
Joseph Azar · License #3375463
(305) 240-1202
Added: Oct 13
Last Checked: Oct 14 at 4:06AM
MLS# A12099656
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property comprises 13 apartment units across two buildings, with a covered carport area positioned between them. The buildings total 6,000 square feet on a lot measuring over 15,000 square feet.
Built in 1937, the structures have brick and concrete block construction. Interior finishes include tile and vinyl flooring; heating is provided by wall furnaces, with window or wall/window unit cooling.
Built in 1937, the structures have brick and concrete block construction. Interior finishes include tile and vinyl flooring; heating is provided by wall furnaces, with window or wall/window unit cooling.
Key Highlights
- 13 apartment units across two buildings
- 6,000 square feet of building area
- Lot size over 15k sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,840
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,216,800
$2.2M
Cap Rate 7%
$1,583,429
$1.6M
Cap Rate 9%
$1,231,556
$1.2M
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$216.0K $36.00/SF
− Vacancy
−$14.5K −$2.41/SF
EGI
$201.5K $33.59/SF
− OpEx
−$90.7K −$15.11/SF
NOI
$110.8K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,216,800
Cap Rate 7%
$1,583,429
Cap Rate 9%
$1,231,556
Alternative Uses
Best Use
Apartment 5plus
$1.58M
$1.39M – $1.85M
NOI $110,840 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.05M
$3.54M – $4.73M
NOI $283,503 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
3,838
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two buildings are arranged around a shared covered carport area.
Where is this apartment building located?
The property is located at 1248-1258 SW 3rd St Miami, FL.
What is the asking price?
The asking price for this property is $3,895,000.
What are key features of this property?
This property features: 13 apartment units across two buildings; 6,000 square feet of building area; Lot size over 15k sq ft
