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    1130 111Th St Miami, FL 33161

    For Sale
    $799,000

    Miami duplex, high ROI, 100% occupied.

    Property size:
    1,892 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional Biscayne Park, Florida duplex presents a compelling investment opportunity. Priced at $799,000, this Class A multifamily property offers a 7.59% cap rate and a strong NOI of $60,618. The 1,969 square foot building, constructed in 1956, sits on a 6,250 square foot lot and features two units, each with its own electric meter. Unit one boasts three bedrooms and two bathrooms with central air conditioning, while unit two includes two bedrooms and one bathroom, equipped with mini-split AC units. Both units are fully renovated, featuring impact windows and doors, and benefit from a recently replaced roof. Tenants currently enjoy 100% occupancy and are willing to renew their leases. The property also includes four parking spaces and a shared utility room with laundry facilities. The owner is responsible only for the annual water expense of $500. No flood insurance is required. This stabilized, owner-user investment is zoned for multifamily use (0802 MULTIFAMILY 2-9 UNITS : 2 LIVING UNITS) and offers a price per unit of $399,500 and a price per square foot of $422.30. The property's location in the unincorporated neighborhood of Biscayne Park, Miami-Dade County, Florida (zip code 33161) provides easy access to Miami's vibrant amenities. This turnkey investment is ideal for those seeking immediate income generation and long-term appreciation.

    Property Features for 1130 111Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,892 SF
    Class
    A

    Building Details

    Year Built
    1956
    Buildings
    1
    Stories
    1
    Units
    2

    HighLights

    • Biscayne Park location.
    • Separate electric meters for individual unit metering.
    • Impact windows and doors throughout.
    • Tenants interested in lease renewals.
    • On‑site parking available.
    • Located in an unincorporated area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Roci house us Horse Riding Field

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.175162368334
    Latitude
    25.878130410474

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    FAQs

    What type of property is this?
    Multifamily property - Miami duplex, high ROI, 100% occupied.
    Where is this multifamily property located?
    The property is located at 1130 111Th St Miami, FL.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: Biscayne Park location.; Separate electric meters for individual unit metering.; Impact windows and doors throughout.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1130 111Th St Miami, FL 33161
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