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Backup Offers

12240 NE 5th Ave, North Miami, FL, 33161

$1,900,000

Home List Price

$10,000*

Closing Credit

0 Baths
4,479 SqFt
$424/SqFt
Multi
Schools Nearby

Location

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12240 NE 5th Ave, North Miami$1,900,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
Year Built1951
HeatingOther
CoolingOther
MLS #A11446202
StatusAccepting Backup Offers
(Active Under Contract)

About 12240 NE 5th Ave

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

Property Details

Property Features

Property Information:

  • Architectural Style: Fourplex
  • Year Built: 1951
  • Stories: 1
  • Living Area: 4,479 SqFt

Listing Office:

  • Office Name: Mia MGMT Group, LLC.
  • Office Phone: (917) 593-4004
  • Listing Agent: Nicolas Vicente

Interior Features

Interior Information:

  • Flooring Type: Ceramic Tile, Tile

Exterior Features

Exterior Information:

  • Exterior: Barbecue, Patio

Virtual/3D Tour

  • Virtual Tour: 12240 NE 5th Ave

Virtual Tour

Utilities

Utilities Information:

  • Heating: Other
  • Cooling: Other

School Info

Assigned Schools Information:

  • North Miami Senior High School, Public Magnet Grades 9-12
  • North Miami Middle School, Public Magnet Grades 6-8
  • Gratigny Elementary School, Public District Grades PK-5

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,900,000
  • Price Per SqFt: $424/SqFt

Tax Information:

  • Annual Amount: $10,838
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in North Miami, FL.

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North Miami, FL

City

Med. Sold Price

$400.6K

Med. Price/SqFt

$311

Avg. Days On Market

72

# of Sold Homes

27

12240 NE 5th Ave vs North Miami

138 DAYS ON ROCKET

+66 Days

$1,900,000

+$1.4M More

$424/SqFt

+$112 More

KEY TAKEAWAY

This property is $1.4M more than the Median Sold Price and $112/SqFt more than other homes in North Miami, FL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: SEFMIAMI
  • MLS Number: #A11446202

Listing Office:

  • Office Name: Mia MGMT Group, LLC.
  • Office Phone: (917) 593-4004
  • Listing Agent: Nicolas Vicente

IDX © 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/1/2024, 4:45:18 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$10,838$472,335
2018$9,067$402,091
2017$9,514$417,299

History based on county public records data.

Payment Calculator

$9,550

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$5,763

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-4444881
3
/10

  • Gratigny Elementary School

  • 11905 N Miami Ave

  • 0.59 miles

  • Public District Grades PK-5

Middle School

school-card-donut-4444882
3
/10

  • North Miami Middle School

  • 700 NE 137th St

  • 0.93 miles

  • Public Magnet Grades 6-8

High School

school-card-donut-4444883
3
/10

  • North Miami Senior High School

  • 13110 NE 8th Ave

  • 0.67 miles

  • Public Magnet Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $29,175. Most North Miami, FL residents have annual incomes less than $35k. Residents typically live in single, no kids family. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›Florida›Miami-Dade County›North Miami›33161›12240 NE 5th Ave

This home is located at 12240 NE 5th Ave in North Miami, FL and zip code 33161. This 4,479 square foot home was built in 1951. It has been listed on Rocket Homes since December 15, 2023 and is currently priced at $1,900,000.

While more than 3 listings in North Miami, FL in April 2024 were sold above asking price, there were more than 3 listings sold at asking price, and more than 21 were sold below. The number of homes for sale in North Miami, FL increased by 8.1% between March 2024 and April 2024. Listings spent 72 days on the market in April 2024, and had a median list price of $400,666 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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