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    1311 15 Ter Miami Beach, FL 33139

    For Sale
    $2,450,000

    Seven-unit apartment building, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 7-unit multifamily property in Miami Beach presents a compelling investment opportunity. Built in 1925, this two-story building comprises five units in the main structure and two in a detached cottage. The main building features three studios (two with yards, one with a balcony) and two two-bedroom, one-bathroom units (one with a yard, one with a balcony). The cottage offers one one-bedroom unit upstairs and another downstairs. All tenants share a common backyard and laundry facilities. The property is offered at $2,450,000. Alternatively, the site is shovel-ready for redevelopment into an elegant four-story boutique building. Plans call for six identical 1310-square-foot, three-bedroom, two-bathroom units, two per floor, each with a private wrap-around balcony, and underground parking. A fantastic common rooftop with a pool and summer kitchen is also envisioned. This redevelopment project capitalizes on the high demand for three-bedroom, two-bathroom condos in South Beach boutique buildings. The existing rental income provides immediate cash flow while the redevelopment potential offers significant long-term appreciation. Located at 1311 15th Ter, Miami Beach, FL 33139, this property is situated in Miami-Dade County.

    Property Features for 1311 15 Ter

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1925
    Stories
    2
    Units
    7

    HighLights

    • $2,450,000 asking price for a 7‑unit multifamily property.
    • Seven‑unit apartment building, including a duplex/triplex/quadruplex structure.
    • Located at 1311 15th Ter, Miami Beach, FL 33139.
    • Built in 1925, two stories.
    • Shovel‑ready opportunity to build a four‑story boutique building with six 3‑bed/2‑bath units, or continue collecting rent from existing tenants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Realty agency Nail Salon Food Market Clothing Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1427854
    Latitude
    25.7883406

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    FAQs

    What type of property is this?
    Multifamily property - Seven-unit apartment building, prime location.
    Where is this multifamily property located?
    The property is located at 1311 15 Ter Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $2,450,000.
    What are key features of this property?
    This property features: $2,450,000 asking price for a 7-unit multifamily property.; Seven-unit apartment building, including a duplex/triplex/quadruplex structure.; Located at 1311 15th Ter, Miami Beach, FL 33139.
    Request Owner's contact information
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    Miami Beach, FL 33139
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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
    1311 15 Ter Miami Beach, FL 33139
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