180 NORTH WEST 59TH ST, Miami
$1,300,000 USD
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| Address | 180 NORTH WEST 59TH ST, Miami |
| Type of Property | Income / MultiFamily |
| Type of Business | Commercial / Residential Income, Residential-Multi-Family |
| Business Location | City Location,In Residential Area |
| Price | $1,300,000 |
| Property Status | Active |
| MLS Number | A11854539 |
| Property Size | 6500 |
| Lot Size | 6500 |
| Year Built | 1926 |
| Folio Number | 01-31-13-063-0521 |
| Gross Operating Income | $90,600 |
| Net Operating Income | $68,643 |
| Zoning Information | 4600 |
| Days on Market | 77 |
Detailed Description: Located in a coveted Opportunity Zone, this 5-unit multifamily property boasts over $100,000 in permitted electrical and plumbing upgrades, ensuring reliable infrastructure. Zoned T-5-R, there’s great potential for higher-density mixed-use development, allowing up to 5 stories with retail, office, and residential spaces—unlocking significant value appreciation. Durable concrete block construction, there is a mix of 1,2, and 3-Bedroom units, each with separate electric meters for tenant convenience. Spacious front and back yards, perfect for making desirable common areas for potential new tenants. Not in a flood zone, this investment offers a strong cap rate, making it a rare find in Miami’s competitive market. Bringing rents up to current market will also dramatically improve your returns!
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Address Information
| State | Florida |
| City | Miami |
| County | Miami-Dade County |
| Zip Code | 33127 |
| Address | 180 NORTH WEST 59TH ST |
| Business Location | City Location,In Residential Area |
| Section | 13 |
| Zip Code (4 Digits) | 1252 |
Financial Information
| Price | $1,300,000 |
| Price per Foot | $0 |
| Folio Number | 01-31-13-063-0521 |
| Gross Operating Income | $90,600 |
| Net Operating Income | $68,643 |
| Tax Amount | $12,727 |
| Tax Year | 2024 |
| Possession Information | Funding |
Full Descriptions
| Detailed Description | Located in a coveted Opportunity Zone, this 5-unit multifamily property boasts over $100,000 in permitted electrical and plumbing upgrades, ensuring reliable infrastructure. Zoned T-5-R, there’s great potential for higher-density mixed-use development, allowing up to 5 stories with retail, office, and residential spaces—unlocking significant value appreciation. Durable concrete block construction, there is a mix of 1,2, and 3-Bedroom units, each with separate electric meters for tenant convenience. Spacious front and back yards, perfect for making desirable common areas for potential new tenants. Not in a flood zone, this investment offers a strong cap rate, making it a rare find in Miami’s competitive market. Bringing rents up to current market will also dramatically improve your returns! |
| Year Built Description | Resale |
| Roof Description | Tar and Gravel Roof |
| Floor Description | Tile, Vinyl |
| Cooling Description | Wall / Window Unit (s) |
| Heating Description | Wall / Window Units |
| Water Description | Public |
| Sewer Description | Public Sanitation |
| Parking Description | On Street |
Property parameters
| Living Area | 6500 |
| Lot Size | 6500 |
| Total Acreage | 0.000 |
| Zoning Information | 4600 |
| Maximum Leasable Size | 6500 |
| Year Built | 1926 |
| Type of Property | Income / MultiFamily |
| Type of Business | Commercial / Residential Income, Residential-Multi-Family |
| Construction Type | Concrete Block Construction,CBS Construction,Stucco,Insulated,Sheet Rock |
| Stories Number | 1 |
| Street Direction | North West |
| Listed with | The Keyes Company |