Modern Duplex in Prime
11515 NE 12th Ave Miami, FL 33161
For Sale
Contact for pricing
Luxury duplex with potential for additional unit and high income.
Property Size3,067 SF
Lot Size8,428.00 Acres
Price / SF$286.93
Days on Market1058
Property Features for 11515 NE 12th Ave
General Information
- Standard status
- Active
- Size
- 3,067 SF
- Lot size
- 8,428.00 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1960
Listing Agency:
Beachfront Realty Inc
Listed By:
monica urrutia · License #3196450
Source:
Crexi
Added: Sep 2, 2023
Changed: Jul 6
Last Checked: Jul 23 at 11:59AM
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 Beachfront Realty Inc
Investment Insights
Based on property information with market context.
This modern duplex features a total of 6 bedrooms and 2 bathrooms, with each unit containing 3 bedrooms and 1 bathroom. Situated in a strategic location, the property includes a unique basement that offers the potential for conversion into an additional unit. The building has 2,569 square feet of construction on a large 8,428 square foot lot. The property has been renovated throughout and includes impact windows and central air conditioning, along with updated electrical systems. The open kitchen features a bar, family room, and private yard with fruit trees. The property is located 3 blocks from Biscayne Park and Miami Shores, and is in close proximity to the Biscayne corridor and Whole Foods. Both units are currently rented. Unit 11515 is rented for $2800 with the lease expiring in December 2026, and Unit 11517 is rented for $3100 with the lease also expiring in December 2026. The property has the potential to generate $8000 monthly if rented short term.
Key Highlights
- Duplex with two 3‑bedroom, 1‑bathroom units, offering immediate rental income potential.
- Large 8,428 sq ft lot with 2,569 sq ft of construction and potential for expansion or additional unit in the basement.
- Completely renovated with impact windows, central A/C, and new electrical system.
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 | $93.9k | $30.60 |
| − Vacancy | −$6.0k | −$1.95 |
| EGI | $87.9k | $28.65 |
| − OpEx | −$26.4k | −$8.60 |
| NOI | $61.5k | $20.06 |
3,067 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$878.7K
$768.9K – $1.03M
NOI $61,510 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$809.4K
$708.2K – $944.3K
NOI $56,658 @ 7.0% cap · market cap 6.44%
Theoretical Best
Specialty Retail
$2.07M
$1.81M – $2.42M
NOI $144,917 @ 7.0% cap · market cap 16.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Luxury duplex with potential for additional unit and high income.
Where is this duplex located?
The property is located at 11515 NE 12th Ave Miami, FL.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Duplex with two 3‑bedroom, 1‑bathroom units, offering immediate rental income potential.; Large 8,428 sq ft lot with 2,569 sq ft of construction and potential for expansion or additional unit in the basement.; Completely renovated with **impact windows, central A/C, and new electrical system.**
