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    3251 23Rd Ter Miami, FL 33145

    For Sale
    $848,000

    Two-unit apartment building, great investment.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This charming 1-story, 2-unit duplex in Miami, Florida, presents a compelling investment opportunity. Built in 1956, this property is situated at 3251 SW 23rd Ter, 33145, in the desirable Miami-Dade County, offering convenient access to Coral Gables and Coconut Grove's vibrant amenities. Its prime location provides quick access to major highways, Miami International Airport, and Downtown Miami, catering to a convenient and upscale lifestyle. The property boasts two units, with one currently occupied on a month-to-month lease. Each unit features its own laundry room with a separate washer and dryer, and individual water and electric meters. The property also includes a 5-year-old AC unit. There is no HOA. This property offers significant potential for rental income, personal use, or redevelopment, making it an attractive option for investors seeking a strong return on investment in a highly sought-after Miami neighborhood. The property is priced at $848,000.

    Property Features for 3251 23Rd Ter

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1956
    Stories
    1
    Units
    2

    HighLights

    • $848,000 asking price.
    • Miami, FL multifamily property; 2‑unit duplex/triplex/quadruplex.
    • 1956 construction, 1‑story building.
    • Desirable Miami location near Coral Gables and Coconut Grove; convenient to major highways and Miami International Airport.
    • Potential for rental income or redevelopment; one unit currently month‑to‑month tenant occupied; no HOA.
    • Features include a 5‑year‑old AC unit, separate laundry with W/D for each unit, and individual water and electric meters.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery 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
    -80.2473961
    Latitude
    25.7475207

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    FAQs

    What type of property is this?
    Multifamily property - Two-unit apartment building, great investment.
    Where is this multifamily property located?
    The property is located at 3251 23Rd Ter Miami, FL.
    What is the asking price?
    The asking price for this property is $848,000.
    What are key features of this property?
    This property features: $848,000 asking price.; Miami, FL multifamily property; 2-unit duplex/triplex/quadruplex.; 1956 construction, 1-story building.
    Request Owner's contact information
    3251 23Rd Ter Miami, FL 33145
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    Miami, FL 33145
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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
    3251 23Rd Ter Miami, FL 33145
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