1130 111Th St Miami, FL 33161
- Small apartment buildings
- 1,892 SF
Current Use by Public Records
- Roci house us / Horse Riding Field
Property Details for 1130 111Th St
- Year built
- 1956
- Property size
- 1,892 SF
- Property type
- Small apartment buildings
- APN
- 30-2232-003-0750
Description
This exceptional Biscayne Park, Florida duplex presents a compelling investment opportunity. Priced at $799,000, this Class A multifamily property offers a 7.59% cap rate and a strong NOI of $60,618. The 1,969 square foot building, constructed in 1956, sits on a 6,250 square foot lot and features two units, each with its own electric meter. Unit one boasts three bedrooms and two bathrooms with central air conditioning, while unit two includes two bedrooms and one bathroom, equipped with mini-split AC units. Both units are fully renovated, featuring impact windows and doors, and benefit from a recently replaced roof. Tenants currently enjoy 100% occupancy and are willing to renew their leases. The property also includes four parking spaces and a shared utility room with laundry facilities. The owner is responsible only for the annual water expense of $500. No flood insurance is required. This stabilized, owner-user investment is zoned for multifamily use (0802 MULTIFAMILY 2-9 UNITS : 2 LIVING UNITS) and offers a price per unit of $399,500 and a price per square foot of $422.30. The property's location in the unincorporated neighborhood of Biscayne Park, Miami-Dade County, Florida (zip code 33161) provides easy access to Miami's vibrant amenities. This turnkey investment is ideal for those seeking immediate income generation and long-term appreciation.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.175162368334
- Latitude
- 25.878130410474
