Modern Duplex in Prime Location

11515 NE 12th Ave, Miami, FL 33161

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For Sale

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Luxury duplex with potential for additional unit and high income.

Type:Multifamily

Property size:

3,067 SF

Lot size:

8,428.00 Acres

Price / SF:

$286/SF

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.
Strategic location near Biscayne Park, Miami Shores, Biscayne corridor, and Whole Foods.
Open kitchen with bar, family room, and private yard with fruit trees.
Existing leases in place until December 2026, generating $5900 monthly income.

We can help!

Listing Contact

monica urrutia

For Sale

Contact for pricing

Luxury duplex with potential for additional unit and high income.

Type:Multifamily

Property size:

3,067 SF

Lot size:

8,428.00 Acres

Price / SF:

$286/SF

Added:: Sep 2, 2023
Days on Market:: 1012
Last Refresh:: May 12 at 9:33 pm

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

We can help!

Listing Contact

monica urrutia

Listing agent monica urrutia License #3196450

Listing office Beachfront Realty Inc

Listing date Sep 2, 2023

Source Crexi

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

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.
Strategic location near Biscayne Park, Miami Shores, Biscayne corridor, and Whole Foods.
Open kitchen with bar, family room, and private yard with fruit trees.
Existing leases in place until December 2026, generating $5900 monthly income.

Overview

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.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

NOI $61,510 @ 7.0% cap · market cap 6.99%

Second Best

Apartment 5plus

$809.4K

$708.2K – $944.3K (±1% cap)

NOI $56,658 @ 7.0% cap · market cap 6.44%

Theoretical Best

Specialty Retail

$2.07M

$1.81M – $2.42M (±1% cap)

NOI $144,917 @ 7.0% cap · market cap 16.47%

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

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: Miami
County: Miami-Dade
State: Florida
Longitude: -80.17378
Latitude: 25.882

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For sale
Duplexes
FL
Miami
33161
11515 NE 12th Ave

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.**