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    62 73Rd Pl Miami, FL 33126

    Sponsored
    For Sale
    $1,050,000

    Legal triplex, 3,105 sq ft, excellent location.

    Property size:
    3,105 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Miami investment opportunity presents a legal triplex spanning over 3,105 square feet. Built in 1945, this single-story property boasts three separate units: a spacious three-bedroom, two-bathroom unit, and two one-bedroom, one-bathroom units. Each of the one-bedroom units features its own private backyard, enhancing their appeal and rental value. All units are currently leased on a month-to-month basis to long-term tenants, currently paying below market rates, presenting immediate potential for increased income. Recent upgrades include a new septic tank and new driveways, minimizing immediate maintenance concerns. The property's prime location in Miami, Florida, within the Winona Park 1st Addition neighborhood, offers convenient access to major highways, shopping centers, and a variety of restaurants. The property includes three individual electric meters and three water meters. Showings are strictly by appointment only to ensure tenant privacy. This is a rare opportunity to acquire a well-maintained, income-generating property in a desirable Miami location. The asking price is $1,050,000.

    Property Features for 62 73Rd Pl

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,105 SF

    Building Details

    Year Built
    1945
    Stories
    1

    HighLights

    • $1,050,000 asking price.
    • Multifamily property, legal triplex.
    • 3,105 square feet.
    • Built in 1945, one story.
    • Miami, FL, 33126.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.3156878
    Latitude
    25.7710857

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    FAQs

    What type of property is this?
    Multifamily property - Legal triplex, 3,105 sq ft, excellent location.
    Where is this multifamily property located?
    The property is located at 62 73Rd Pl Miami, FL.
    What is the asking price?
    The asking price for this property is $1,050,000.
    What are key features of this property?
    This property features: $1,050,000 asking price.; Multifamily property, legal triplex.; 3,105 square feet.
    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
    62 73Rd Pl Miami, FL 33126
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