$4,164,000 - $4,595,000
RENTED MAR 21, 2025

1351 Bay Terrace North Bay Village, FL 33141

North Bay Island Neighborhood
3 Beds
3 Baths
2,334 Sq Ft
$1,856 Price per Sq Ft

Last Sold July 17, 2015

Last sale price $2,550,000 $1,093 Per Sq Ft

Est. 70% increase in value since last sale

Current estimated payment $28,568/month

Highlights

  • Property Fronts a Bay or Harbor
  • In Ground Pool
  • No HOA
  • Gated with Attendant
  • Deck
  • Den

About This Home

As of March 2025

Be the first to experience luxury living in this breathtaking bayfront property, located in the serene and gated North Bay Village community. Recently remodeled to perfection, this home boasts panoramic sunset views of the Miami skyline. Featuring 3 spacious bedrooms, 3 bathrooms, and a versatile bonus office/den, the property is designed for both comfort and style. The updated kitchen is a chef's dream, and the expansive primary suite is enhanced by Italian-style wall cabinets and stunning bay views with direct access to a large terrace. Enjoy the ultimate Florida lifestyle, the lap pool, distinctive deck, perfect for relaxation and entertaining. A generous driveway complements the one-car garage. This property is rented unfurnished for a one-year minimum and the option to renew.

Last Agent to Rent the Property

Elisabeth Gazay

Douglas Elliman License #3274575 Listed on: 01/16/2025

Douglas Elliman

Co-Listed By

Marine Lavaud

Douglas Elliman License #3409022

Last Renter's Agent

Elisabeth Gazay

Douglas Elliman License #3274575 Listed on: 01/16/2025

Douglas Elliman

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $65,884

Year Built

  • Built in 1934

Lot Details

  • 6,020 Sq Ft Lot
  • 52 Ft Wide Lot
  • Property Fronts a Bay or Harbor
  • South Facing Home
  • Fenced
  • Property is zoned 0900

Parking

  • 1 Car Attached Garage
  • Automatic Garage Door Opener

Home Design

  • Substantially Remodeled
  • Barrel Roof Shape
  • Concrete Block And Stucco Construction

Interior Spaces

  • 2,334 Sq Ft Home
  • 2-Story Property
  • Den
  • Bay Views

Kitchen

  • Electric Range
  • Dishwasher

Bedrooms and Bathrooms

  • 3 Bedrooms
  • Primary Bedroom Upstairs
  • 3 Full Bathrooms
  • Bathtub

Laundry

  • Dryer
  • Washer
  • Laundry Tub

Home Security

  • Complete Impact Glass
  • High Impact Door

Outdoor Features

  • In Ground Pool
  • Balcony
  • Deck
  • Exterior Lighting

Utilities

  • Central Air
  • Electric Water Heater

Listing and Financial Details

  • Property Available on 1/17/25
  • 1 Year With Renewal Option Lease Term
  • Assessor Parcel Number 23-32-09-008-0020

Community Details

Overview

  • No Home Owners Association
  • North Bay Island Subdivision

Security

  • Gated with Attendant

Home Details

Home Type

Single Family

Est. Annual Taxes

$65,884

Year Built

Built in 1934

Lot Details

0

Parking

1

Rental Info

  • Pets Allowed: Restrictions Or Possible Restrictions
  • Available Date: 2025-01-17
  • Lease Term: 1 Year With Renewal Option

Listing Details

  • Property Type: Residential Lease
  • Year Built: 1934
  • Property Sub Type: Single Family Residence
  • Co List Office Mls Id: DEOM09
  • Co List Office Phone: 305-695-6070
  • Road Frontage Type: Bay
  • Garage Yn: Yes
  • Horses: No
  • Inclusions: Other
  • Lease Assignable: No
  • New Construction: No
  • Building Stories: 2
  • Structure Type: Single Family-Annual, House
  • Subdivision Name: NORTH BAY ISLAND
  • MIAMIRE_PoolYN: Yes
  • MIAMIRE_PetsAllowedYN: Yes
  • ResoPropertyType: ResidentialLease
  • Special Features: VirtualTour
  • Stories: 2

Interior Features

  • Appliances: Electric Water Heater, Dishwasher, Dryer, Electric Range, Refrigerator, Washer
  • Interior Amenities: First Floor Entry, Laundry Tub, Den/Library/Office
  • Spa Yn: No
  • Full Bathrooms: 3
  • Total Bedrooms: 3
  • Door Features: High Impact Doors
  • Furnished: Unfurnished
  • Living Area: 2334
  • Other Equipment: Automatic Garage Door Opener
  • Stories: 2
  • Window Features: Complete Impact Glass
  • Bedroom Features: Primary Bath Tub, Primary Bedroom Upstairs
  • Living Room Features: Den/Library/Office

Exterior Features

  • Roof: Barrel Roof
  • View: Bay
  • Exterior Features: Lighting, Open Balcony
  • Construction Type: CBS Construction
  • Direction Faces: South
  • Fencing: Fenced
  • Patio And Porch Features: Deck, Open Balcony
  • Pool Features: In Ground
  • Pool Private: No
  • Property Condition: Substantially Remodeled, Completely Renovated
  • View: Yes
  • Waterfront: Yes

Garage/Parking

  • Attached Garage: Yes
  • Park Building Name: NORTH BAY ISLAND
  • Covered Parking Spaces: 1
  • Garage Spaces: 1

Utilities

  • Sewer: Sewer
  • Water Source: Municipal Water
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Laundry Features: Laundry Tub
  • Security: Gated with Guard

Condo/Co-op/Association

  • Association: No

Lot Info

  • Parcel Number: 23-32-09-008-0020
  • Land Lease: No
  • Land Lease Amount Frequency: Annually
  • Lot Size Sq Ft: 6020
  • Zoning: 0900
  • ResoLotSizeUnits: SquareFeet

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 28, 2024
Sold by
Waterfront Terrace Real Estate Inc
Bought by
Miami Beach Bay Llc
Current Estimated Value
$4,331,594

Purchase Details

Listed on
Apr 29, 2015
Closed on
Jul 16, 2015
Sold by
Luguet Arnaud H and Lomachuk Ganna
Bought by
Waterfront Terrace Real Estate Inc
Seller's Agent
Arnaud Luguet
MMLS Assoc.-Inactive Member
Buyer's Agent
Ashton Coleman
One Sotheby's International Re
List Price
$2,700,000
Sold Price
$2,550,000
Premium/Discount to List
-$150,000
-5.56%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.72%

Purchase Details

Closed on
Dec 10, 2010
Sold by
Fragakis Gregory and Fragakis John
Bought by
Luguet Arnaud H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
4.25%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 7, 2010
Sold by
Demos Angelo P
Bought by
Luguet Arnaud H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
4.25%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 30, 2008
Sold by
Fragakis Gregory and Fragakis John
Bought by
Fragakis Gregory and Fragakis John

Purchase Details

Closed on
Sep 1, 1999
Sold by
Fragakis Bessie
Bought by
Pappas Peter
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Miami Beach Bay Llc $4,200,000 None Listed On Document
Miami Beach Bay Llc $4,200,000 None Listed On Document
Waterfront Terrace Real Estate Inc $2,550,000 Attorney
Luguet Arnaud H $1,000,000 Attorney
Luguet Arnaud H -- Attorney
Fragakis Gregory -- Attorney
Pappas Peter $65,600 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Waterfront Terrace Real Estate Inc $1,657,500
Previous Owner Luguet Arnaud H $300,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/21/2025 03/21/25 Rented $15,000 0.0% --
02/18/2025 02/18/25 Under Contract -- -- --
01/31/2025 01/31/25 Price Changed $15,000 -25.0% $6 / Sq Ft
01/16/2025 01/16/25 For Rent $20,000 0.0% --
07/17/2015 07/17/15 Sold $2,550,000 -5.6% $1,020 / Sq Ft
06/05/2015 06/05/15 Pending -- -- --
04/29/2015 04/29/15 For Sale $2,700,000 -- $1,080 / Sq Ft
Source: MIAMI REALTORS® MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $65,884 $3,953,937 $3,612,000 $341,937
2024 $61,847 $2,550,106 -- --
2023 $61,847 $2,318,279 $0 $0
2022 $51,102 $2,107,527 $0 $0
2021 $47,570 $2,036,047 $0 $0
2020 $44,856 $1,924,287 $1,203,982 $720,305
2019 $44,086 $1,932,657 $1,203,982 $728,675
2018 $43,468 $1,941,028 $1,203,982 $737,046
2017 $44,508 $1,949,399 $0 $0
2016 $43,661 $1,957,769 $0 $0
2015 $24,408 $1,003,592 $0 $0
2014 $23,534 $912,357 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Elisabeth Gazay

    Landlord's Agent in 2025

    Elisabeth Gazay

    Douglas Elliman

    (305) 794-1086

    1 in this area

    21 Total Sales

    Elisabeth Gazay
    Section Image
  • Marine Lavaud

    Landlord's Co-Listing Agent in 2025

    Marine Lavaud

    Douglas Elliman

    (305) 393-1732

    1 in this area

    25 Total Sales

    Marine Lavaud
    Section Image

  • A

    Seller's Agent in 2015

    Arnaud Luguet

    MMLS Assoc.-Inactive Member

    Section Image
  • Ashton Coleman

    Buyer's Agent in 2015

    Ashton Coleman

    One Sotheby's International Re

    (888) 383-7326

    1 in this area

    27 Total Sales

    Ashton Coleman
    Section Image
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Map

Source: MIAMI REALTORS® MLS

MLS Number: A11723668

MIAMI REALTORS® MLS

APN: 23-3209-008-0020

Florida Miami/Dade County North Bay Village 33141 North Bay Island

1351 Bay Terrace, North Bay Village, FL

This home is located at 1351 Bay Terrace, North Bay Village, FL 33141 since 16 January 2025 and is currently priced at $4,331,594. This property was built in 1934. 1351 Bay Terrace is a home located in Miami-Dade County with nearby schools including Treasure Island Elementary School, Nautilus Middle School, and Miami Beach 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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