NOT LISTED FOR SALE

12240 NE 5th Ave North Miami, FL 33161

-- Bed
-- Bath
4,479 Sq Ft
1951 Built

Last Sold May 24, 2024

Last sale price $1,600,000 $357 Per Sq Ft

265 Days on Market

Highlights

  • No HOA
  • Cooling Available
  • Ceramic Tile Flooring
  • High Impact Windows
  • Patio
  • 4-minute walk to Griffing Park

About This Home

As of May 2024

Million-Dollar Neighborhood! Presenting an impeccable 8-unit multifamily apartment income property located in the vibrant City of North Miami, FL, in the heart of the Biscayne Park area. One of the unique features of this property is its value-add potential, as it has the right to build an additional up to 14 unit and add 6 units to the existing structure, plans available could significantly boost cash flow. Additionally, it has recently passed the 40-year certification, ensuring structural integrity. Many upgrades, including impact windows, have been carried out. Great opportunity SELLER FINANCE UP TO 30 %It is rented 25% below market value. Pro forma calculated by Miami Dade Housing 2024

Last Agent to Sell the Property

Nicolas Vicente

Mia MGMT Group, LLC. License #3419240 Listed on: 09/01/2023

Last Buyer's Agent

Nicolas Vicente

Mia MGMT Group, LLC. License #3419240 Listed on: 09/01/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,702

Year Built

  • Built in 1951

Parking

  • 12 Parking Spaces

Home Design

  • Quadruplex
  • Shingle Roof

Interior Spaces

  • 4,479 Sq Ft Home
  • 1-Story Property
  • Ceramic Tile Flooring
  • High Impact Windows

Outdoor Features

  • Patio
  • Outdoor Grill

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Rent includes rent incl
  • Assessor Parcel Number 06-22-30-031-0250

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Biscayne Park Estates Condos
  • Biscayne Park Estates,8 Unit Rental Income Subdivision, 8 Unit Rental Income Floorplan

Amenities

  • Laundry Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,702

Year Built

Built in 1951

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1951
  • Property Sub Type: Quadruplex
  • Architectural Style: Other
  • Horses: No
  • Master Model: 8 Unit Rental Income
  • New Construction: No
  • Building Stories: 1
  • Structure Type: Quadruplex, Fourplex
  • Subdivision Name: BISCAYNE PARK ESTATES,8 Unit Rental Income
  • Year Built Details: Resale
  • MIAMIRE_PoolYN: No
  • ResoPropertyType: ResidentialIncome
  • Special Features: VirtualTour
  • Stories: 1

Interior Features

  • Flooring: Ceramic Floor, Tile
  • Living Area: 4479
  • Possible Use: Investment
  • Stories: 1
  • Window Features: Clear Impact Glass, High Impact Windows

Exterior Features

  • Roof: Other, Shingle
  • Exterior Features: Barbeque
  • Lot Features: Less Than 1/4 Acre Lot
  • Patio And Porch Features: Patio
  • Pool Private: No
  • View: No
  • Waterfront: No

Garage/Parking

  • Park Building Name: BISCAYNE PARK ESTATES
  • Total Parking Spaces: 12

Utilities

  • Sewer: Public Sewer
  • Water Source: Municipal Water
  • Green Building Features: Laundry Facility
  • Cooling: Other
  • Cooling Y N: Yes
  • Heating: Other
  • Heating Yn: Yes

Condo/Co-op/Association

  • Association: No

Association/Amenities

  • MIAMIRE_TypeofAssociation: None

Lot Info

  • Parcel Number: 06-22-30-031-0250
  • Zoning: 3700
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Rent Includes: Other Rent Incl

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 14702

Multi Family

  • Number Of Units In Community: 4
  • Number Of Units Total: 8

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/24/2024 05/24/24 Sold $1,600,000 -15.8% $357 / Sq Ft
03/18/2024 03/18/24 Price Changed $1,900,000 -7.3% $424 / Sq Ft
02/06/2024 02/06/24 Price Changed $2,050,000 -2.4% $458 / Sq Ft
01/15/2024 01/15/24 Price Changed $2,100,000 -2.3% $469 / Sq Ft
10/27/2023 10/27/23 Price Changed $2,150,000 -6.5% $480 / Sq Ft
09/01/2023 09/01/23 For Sale $2,300,000 +76.9% $514 / Sq Ft
04/12/2022 04/12/22 Sold $1,300,000 0.0% $290 / Sq Ft
03/09/2022 03/09/22 Pending -- -- --
03/03/2022 03/03/22 For Sale -- -- --
02/03/2022 02/03/22 Off Market $1,300,000 -- --
01/10/2022 01/10/22 For Sale -- -- --
01/05/2022 01/05/22 Pending -- -- --
12/13/2021 12/13/21 For Sale $1,390,000 -- $310 / Sq Ft
Source: MIAMI REALTORS® MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Nicolas Vicente

    Seller's Agent in 2024

    Nicolas Vicente

    Mia MGMT Group, LLC.

    (917) 593-4004

    2 in this area

    28 Total Sales

    Nicolas Vicente
    Section Image
  • Brian Carter, MBA, CCIM

    Seller's Agent in 2022

    Brian Carter, MBA, CCIM

    Douglas Elliman

    (305) 582-2424

    2 in this area

    56 Total Sales

    Brian Carter, MBA, CCIM
    Section Image
  • Daniel Hernandez

    Seller Co-Listing Agent in 2022

    Daniel Hernandez

    Douglas Elliman

    (305) 484-0367

    3 in this area

    53 Total Sales

    Daniel Hernandez
    Section Image
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Map

Source: MIAMI REALTORS® MLS

MLS Number: A11446202

MIAMI REALTORS® MLS
Florida Miami/Dade County North Miami 33161

12240 NE 5th Ave, North Miami, FL

This home is located at 12240 NE 5th Ave, North Miami, FL 33161 since 01 September 2023. This property was built in 1951. 12240 NE 5th Ave is a home located in Miami-Dade County with nearby schools including Gratigny Elementary School, North Miami Middle School, and North Miami Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MIAMI REALTORS® MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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