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    1217 127 St North Miami, FL 33161

    For Sale
    $1,895,000

    8-Unit Building, High ROI Potential

    Property size:
    5,190 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 8-unit multifamily property in North Miami, Florida, presents a compelling value-add investment opportunity. Located at 1217 NE 127th St, this single-story, 1958-built building boasts 5,190 square feet on a sizable 10,950 square foot lot, zoned R-5. The property features a mix of seven one-bedroom, one-bathroom units and one two-bedroom, two-bathroom unit, all currently rented at 100% occupancy, generating a gross annual income exceeding $167,000. Recent renovations include new hurricane impact windows and doors, fresh exterior paint, and a new fence. Interior upgrades encompass 20x20 porcelain tile floors, updated kitchens with new countertops and wood cabinets, and remodeled bathrooms with new showers and bathtubs. The property also offers ample private parking for residents and guests (8 spaces total). The building has undergone a 40-year recertification. With a current NOI of $129,460 and an asking price of $1,895,000, this property offers a 6.83% cap rate and a price per square foot of $365.13. Its prime location, near Biscayne Boulevard and surrounded by retail amenities such as Whole Foods, Publix, CVS, and Walgreens, ensures strong tenant demand and future appreciation potential. This is a turnkey investment ready for immediate cash flow.

    Property Features for 1217 127 St

    General Information

    Property type
    Multifamily properties
    Square Feet
    5,190 SF
    Class
    B

    Building Details

    Year Built
    1958
    Buildings
    1
    Stories
    1
    Units
    8

    HighLights

    • Eight renovated apartment units (seven 1BR, one 2BR).
    • 100% occupancy rate.
    • 40‑year recertification complete.
    • New hurricane‑impact windows installed.
    • Abundant private parking available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant 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
    North Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.173804986554
    Latitude
    25.89260109711

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    FAQs

    What type of property is this?
    Multifamily property - 8-Unit Building, High ROI Potential
    Where is this multifamily property located?
    The property is located at 1217 127 St North Miami, FL.
    What is the asking price?
    The asking price for this property is $1,895,000.
    What are key features of this property?
    This property features: Eight renovated apartment units (seven 1BR, one 2BR).; 100% occupancy rate.; 40-year recertification complete.
    (305) 490-1404
    Request Owner's contact information
    1217 127 St North Miami, FL 33161
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    North Miami, FL 33161
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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
    1217 127 St North Miami, FL 33161
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