Basics
- Category: CommercialSale
- Type: Multifamily
- Status: Active
- Bathrooms: 0
- Floors: 3, 3
- Year built: 1957
- County: Miami-Dade
- MLS ID: F10556385
Description
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Description:
14 53 41 ORCHARD VILLA EXT PB 17-55 LOTS 24 AND 25 BLK 6 LOT SIZE 100.000 X 106 OR 12425-1653 0185 4 City Apartments is an 18-unit multifamily property located at 1261 NW 59th Street, Miami, Florida 33142. Built in 1957, the property totals 10,485 square feet and sits on a 0.24 acre lot. The unit mix consists of twelve one-bedroom/one-bathroom units averaging 500 square feet and six two bedroom / one-bathroom units averaging 590 square feet. The property features wall-unit air conditioning, and separate electric meters for all units, reducing ownership expenses and simplifying operations. Strategically located in the heart of Miami’s Liberty City neighborhood, City Apartments benefits from extensive ongoing redevelopment and reinvestment in the surrounding area. The property is positioned near the Liberty Square redevelopment, a $300+ million public-private partnership transforming the historic neighborhood with over 1,400 new mixed-income housing units, retail, and community spaces. It is also minutes from the Miami Innovation District, Wynwood, Allapattah, and the Miami Health District, all major employment and growth drivers contributing to strong rental demand and steady population inflow. With modernized building systems, and proximity to several large-scale development projects reshaping Miami’s urban core, City Apartments represents an outstanding opportunity to acquire a stabilized, cash-flowing asset with long-term appreciation potential in one of the city’s most active redevelopment corridors.
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Location
- Directions: I95 to NW 62nd St. Go west to NW 12th Ave. Go south to NW 59th St then West
- Lot Size Acres: 0.2433 acres
Building Details
- Water Source: Public
- Sewer: PublicSewer
- Construction Materials: Block
- Covered Spaces: 0
- Number Of Buildings: 1
- Floor covering: Vinyl
Amenities & Features
- Parking Features: Common
- Security Features: FireAlarm,SmokeDetectors
- Parking Total: 18
- Roof: Concrete
- Electric: SeparateMeters
- Exterior Features: Fence
Expenses, Fees & Taxes
- Trash Expense: $6,600
- Utilities Expense: $5,460
- Maintenance Expense: $7,200
- Operating Expense: $154,418
- Tax Annual Amount: $35,705
- Other Expense: 0
- Insurance Expense: $52,000
- Tax Year: 2025
Miscellaneous
- List Office Name: Home Sold Realty LLC
- Listing Terms: Cash,Conventional,Exchange1031
Ask our real estate expert about this property
This Multifamily-type commercial real estate is located in 1261, 59th, Miami, FL, 33142 was built in 1957, and is listed at $3,650,000.