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    1613 45Th St Miami, FL 33142

    Sponsored
    For Sale
    $489,000

    Prime Alappatah Duplex with Development Potential

    Property size:
    1,512 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a charming 1,512 square foot, two-story duplex located at 1613 NW 45th St, Miami, FL 33142, in the desirable Alappatah neighborhood of Miami-Dade County. Built in 1936, this multifamily property offers significant upside potential. The asking price is $489,000. A key feature is the presence of a vacant lot directly in front of the building, presenting a unique opportunity for expansion. This empty lot allows for the construction of an additional duplex, triplex, or potentially even a quadplex, significantly increasing the property's rental income and overall value. Alappatah's designation as an Opportunity Zone further enhances the investment appeal. Recent improvements include a brand-new roof installed in August 2024 and a newly renovated laundry room area. This property is ideally suited for investors seeking to capitalize on the burgeoning Miami real estate market and benefit from the potential for substantial future development. The property's location provides easy access to major transportation routes and local amenities. Don't miss this chance to acquire a well-maintained duplex with exceptional growth potential in a thriving urban area.

    Property Features for 1613 45Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,512 SF

    Building Details

    Year Built
    1936
    Stories
    2

    HighLights

    • Charming 1,512 sq ft, two‑story duplex in desirable Alappatah, Miami.
    • Asking price: $489,000.
    • Adjacent vacant lot allows for expansion (additional duplex, triplex, or quadplex).
    • Located in an Opportunity Zone.
    • Recent improvements include a new roof (August 2024) and renovated laundry room.
    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 Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2234774
    Latitude
    25.8164764

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    FAQs

    What type of property is this?
    Multifamily property - Prime Alappatah Duplex with Development Potential
    Where is this multifamily property located?
    The property is located at 1613 45Th St Miami, FL.
    What is the asking price?
    The asking price for this property is $489,000.
    What are key features of this property?
    This property features: Charming 1,512 sq ft, two-story duplex in desirable Alappatah, Miami.; Asking price: $489,000.; Adjacent vacant lot allows for expansion (additional duplex, triplex, or quadplex).
    Request Owner's contact information
    1613 45Th St Miami, FL 33142
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    Miami, FL 33142
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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
    1613 45Th St Miami, FL 33142
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