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Steve Chamberland

steve.chamberland@engelvoelkers.com +1(954) 991-8680

$ 3,650,000

Est. payment -/mo

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Active

1261 NW 59th ST Miami, FL 33142

10,485 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 10,485 sqft

Price per Sqft $348

MLS Listing ID F10556385

Construction Status Resale

HOA Y/N No

Year Built 1957

Annual Tax Amount $35,705

Tax Year 2025

Lot Size 10,454 Sqft

Acres 0.24

Property Sub-Type Multi Family

Property Description

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.

Location

State FL

County Miami-dade

Area 2310

Zoning 3901

Interior

Interior Features InteriorFeatures

Flooring Vinyl

Fireplace No

Exterior

Parking Features Common

Fence Fenced

Water Access Desc Public

Roof Type Concrete

Road Frontage City Street

Total Parking Spaces 18

Building

Lot Description City Lot

Story 3

Sewer Public Sewer

Water Public

Structure Type Block

New Construction No

Construction Status Resale

Others

Tax ID 01-31-14-043-1130

Security Features Fire Alarm

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Virtual Tour https://www.propertypanorama.com/1261-NW-59th-St-Miami-FL-33142/unbranded

Listed by Camilo De la Cruz Perez Home Sold Realty LLC

NEARBY SCHOOLS & PROPERTIES

Steve Chamberland

Advisor | License ID: 3548943

+1(954) 991-8680

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