1311 15 Ter Miami Beach, FL 33139
- Small apartment buildings
Current Use by Public Records
- Small apartment buildings
Property Details for 1311 15 Ter
- Year built
- 1925
- Property type
- Small apartment buildings
Description
This exceptional 7-unit multifamily property in Miami Beach presents a compelling investment opportunity. Built in 1925, this two-story building comprises five units in the main structure and two in a detached cottage. The main building features three studios (two with yards, one with a balcony) and two two-bedroom, one-bathroom units (one with a yard, one with a balcony). The cottage offers one one-bedroom unit upstairs and another downstairs. All tenants share a common backyard and laundry facilities. The property is offered at $2,450,000. Alternatively, the site is shovel-ready for redevelopment into an elegant four-story boutique building. Plans call for six identical 1310-square-foot, three-bedroom, two-bathroom units, two per floor, each with a private wrap-around balcony, and underground parking. A fantastic common rooftop with a pool and summer kitchen is also envisioned. This redevelopment project capitalizes on the high demand for three-bedroom, two-bathroom condos in South Beach boutique buildings. The existing rental income provides immediate cash flow while the redevelopment potential offers significant long-term appreciation. Located at 1311 15th Ter, Miami Beach, FL 33139, this property is situated in Miami-Dade County.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami Beach
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.1427854
- Latitude
- 25.7883406
