Legal Duplex
525 Northeast 159th Street Miami, FL 33162
525 Northeast 159th Street, Miami, FL, 33162
$485,000
For Sale
$485,000
Legal duplex with long-term month-to-month tenants, sold AS IS with a roof replaced in 2018 and ample parking.
Property Size1,680 SF
Price / SF$288.69
Days on Market108
Property Features for 525 Northeast 159th Street
General Information
- Standard status
- Active
- Size
- 1,680 SF
- Property subtype
- Multi-Family Income / Duplex
Building Details
- Year Built
- 1940
Listing agency
Elite Realty Partners, Inc.
(954) 990-7526
Listed by
Joshua Mathis · License #3402342
(954) 990-7526
Source
Compass
Added: Apr 5 Updated: Jul 20 at 7:12PM Checked: Jul 21 at 6:11AM
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 Elite Realty Partners, Inc.
Investment Insights
Based on property information with market context.
This legal duplex is currently rented to long-term, month-to-month tenants. The property is being sold AS IS and will require some work, making it suitable for a renovation or value-add plan. The roof was completed in 2018, and the duplex includes plenty of parking for both units.
The property is located in North Miami Beach near major highways, shopping centers, beaches, Aventura Mall, and entertainment.
The listing is offered for sale with closing cost assistance from the seller.
The property is located in North Miami Beach near major highways, shopping centers, beaches, Aventura Mall, and entertainment.
The listing is offered for sale with closing cost assistance from the seller.
Key Highlights
- Legal duplex (year built 1940) with long‑term month‑to‑month tenants
- Currently rented; tenants are month‑to‑month per the listing
- Roof replaced in 2018
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 | $51.4k | $30.60 |
| − Vacancy | −$3.3k | −$1.95 |
| EGI | $48.1k | $28.65 |
| − OpEx | −$14.4k | −$8.60 |
| NOI | $33.7k | $20.06 |
1,680 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$481.3K
$421.2K – $561.6K
NOI $33,693 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$443.4K
$387.9K – $517.3K
NOI $31,035 @ 7.0% cap · market cap 6.40%
Theoretical Best
Specialty Retail
$1.13M
$992.3K – $1.32M
NOI $79,381 @ 7.0% cap · market cap 16.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Legal duplex with long-term month-to-month tenants, sold AS IS with a roof replaced in 2018 and ample parking.
Where is this duplex located?
The property is located at 525 Northeast 159th Street Miami, FL.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Legal duplex (year built 1940) with long‑term month‑to‑month tenants; Currently rented; tenants are month‑to‑month per the listing; Roof replaced in 2018
