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About This Property
Eleven-unit garden apartment community in unincorporated Miami-Dade County, one block west of Biscayne Boulevard between Miami Shores and North Miami. Single-story reinforced concrete, built in 1947, renovated in 1997 and 2019, arranged around a central lawn with eleven surface parking spaces. Seven studios and four one-bedrooms. Ten units are occupied; the eleventh is ready for immediate lease. Each unit is separately metered for electric, and roofing, windows, and mechanical systems can be inspected and priced without opening walls. Priced at $2,475,000, or $225,000 per unit. That basis falls inside the band set by ten closed mainland trades since November 2025, including a 1948 fourplex one block away on NE 110th Terrace that sold for $223,750 per unit in May 2026. The pro forma applies market rents of $1,325 per studio and $1,835 per one-bedroom, figures well below the $2,244 submarket average asking rent, leaving room for growth on ordinary turnover. Pro forma figures are assumptions, not statements of current collections. Buyer to verify all information independently. Three institutional projects totaling 948 units are under construction within roughly a mile, delivering at rents this property does not compete with. The workforce demand those projects create operates in this price band. A full offering memorandum with comparable sale detail, the itemized expense build, and submarket documentation has been prepared for this offering.
Property Features
County
Miami-Dade County
Section
32
Area
4995
Subdivision
Interior
Cooling
Bedrooms
Floors
Full Baths
Appliances
Heating
Style
Garage Spaces
Construction/Exterior
CBS Construction
Patio / Deck Description
Exterior
Has a Pool
Possession
Funding, Rental Agreement
Lot Size in Acres
Water
Sewer
Lot Size in Sq. Ft.
17000
Has Waterfront
No
Parking Description
View
Has Garage
No
Roof/Attic
Shingle
Senior Community
No
Other Utilities
Property Type
Commercial Sale
Pets
Property SubType 2
Income/MultiFamily
Tax Year
NA
Year Built
1947
Tax Amount
$
APN
NA
Square Feet Source
NA
Map
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