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12240 NE 5th Avenue, North Miami, FL 33161 (MLS# A11135514)

12240 NE 5th Avenue, North Miami, FL 33161

$1,300,000
Property Type: Residential Income Square Footage: 4,479 Status: Closed
Current Price: $1,300,000 List Date: 12/13/2021 Last Modified: 8/11/2026

Overview

Description

Potential 6% cash-flow (“cap rate”) with this 8-unit multifamily apartment income property in the City of North Miami, FL. Well maintained, renovated, & managed over the past five years. Walking distance to neighborhood cafes, shopping & services on NE 125th Street/Downtown City of North Miami. Conveniently located between Aventura, Biscayne Park & Miami Shores and minutes to the Beaches. Zoned R-5 with a wide range of potential uses including multifamily medium density, childcare centers, adult daycare/living facilities, hospitals, nursing, & convalescent homes. See attached Zoning Information & Survey & Plans for the potential addition of more units on the existing property. See attached financial and proforma summaries. Being sold AS-IS/WHERE-IS.

Supplements: Electric meters: 8. Tenants pay electric. One (1) water/sewer meter; paid by landlord. 10 parking including 1 HC space. Roof updated in 2013 for a section for the shingles & 2015 for the Flat-roof.

Listing Details MLS# A11135514

General Property Information

Number Of Units Total
4
Property Sub Type
Quadruplex
Building Area Main
4479
Living Area Main
4479
Adjusted Area Main
4479
Year Built
1951
Parking Total
10
Stories Total
Yes
Pool Private YN
No

Property Features

Documents Available: Copy Of Lease(s); Existing Survey; Investment Analysis Flooring: Ceramic Tile Property Condition: Resale; Updated/Remodeled Structure Type: Multi Family Construction Materials: Block; CBS Cooling: Ceiling Fan(s); Wall/Window Unit(s) Heating: Separate Meters; Other Listing Terms: Cash Possession: Negotiable Roof: Shingle; Tar/Gravel Sewer: Septic Tank Tax Information: Tax Reflects No Exemptions Utilities: Cable Not Available Showing Requirements: Appointment Only Unit 1 Other Equipment: Air Conditioning Unit Unit 1 Parking Features: Open Parking Unit 2 Parking Features: Open Parking Unit 3 Parking Features: Open Parking Unit 4 Parking Features: Open Parking Contingencies: None

Contract Information

Comp Sale YN
No
Original List Price
1390000

Location and Legal

Country
United States
County Or Parish
Miami-Dade
County Parish Name
Miami-Dade
Street Number
12240
Street Direction Prefix
NE
Street Name
5th
Street Suffix
Avenue
City Name
North Miami
Municipal Code
6
State Or Province
FL
Postal Code
33161
Postal Code +4
5444
Postal Zip
33161
Subdivision Name
BISCAYNE PARK ESTATES
Development Name
8 Unit Rental Income
Area
2220
Parcel Number
0622300310250
Subdivision Number
31
Zoning
3700
Flood Zone
AE,X
Directions
Text/message agent for showings via video tours of a selection of the units. Due to Covid, appointments for internal viewing during inspections & after accepted contract. Property fully leased. Do not disturb nor discuss sale with tenants.

Financial Information

Tax Annual Amount
12254
Tax Year
2001
Tax Legal Description
BISCAYNE PARK ESTS BLKS 8 9 10 11 PB 5-107 LOT 24 BLK 8 LOT SIZE 15000 SQUARE FEET OR 18882-3051 11 1999 1 COC 24160-3301 09 2005 1

Status Change Information

Major Change Timestamp
2022-04-12T18:25:39Z
Major Change Type
Status Change
Status Change Date
2022-04-13
Under Contract Date
2022-03-09
Close Date
2022-04-12
Close Price
1300000
Buyer Financing
Cash

More Information

Income and Expenses

Gross Income
116460
Net Operating Income
87231
Total Expenses
29229

Unit 1 Details

Actual Rent
1550
Baths Full
Yes
Efficiency YN
No
Furnished
Unfurnished

Unit 1 Lease Description

Currently Leased YN
Yes

Unit 2 Details

Actual Rent
1300
Baths Full
Yes
Efficiency YN
No

Unit 2 Lease Description

Currently Leased YN
Yes

Unit 3 Details

Actual Rent
1200
Baths Full
Yes
Efficiency YN
No

Unit 3 Lease Description

Currently Leased YN
Yes

Unit 4 Details

Actual Rent
1050
Baths Full
Yes
Efficiency YN
No

Unit 4 Lease Description

Currently Leased YN
Yes

Buyer Details

Intended Use
Unknown/Withheld

Concessions

Seller Concessions
No

Price Calculations

Current Price To SqFt
290.24

Section Details

Parcel Number MLX
0250

Originating Details

Originating System Key
365019516
Originating System ID
M00000151

Office/Member Information

DXORIGMLSID
SEF

Flooring

Ceramic Tile
Yes

Property Condition

Resale
Yes
Updated/Remodeled
Yes

Documents Available

Copy Of Lease(s)
Yes
Existing Survey
Yes
Investment Analysis
Yes

Structure Type

Multi Family
Yes

Possession

Negotiable
Yes

Sewer

Septic Tank
Yes

Utilities

Cable Not Available
Yes

Heating

Separate Meters
Yes
Other
Yes

Construction Materials

Block
Yes
CBS
Yes

Listing Terms

Cash
Yes

Roof

Shingle
Yes
Tar/Gravel
Yes

Cooling

Ceiling Fan(s)
Yes
Wall/Window Unit(s)
Yes

Showing Requirements

Appointment Only
Yes

Tax Information

Tax Reflects No Exemptions
Yes

Contingencies

None
Yes

Unit 1 Other Equipment

Air Conditioning Unit
Yes

Unit 1 Parking Features

Open Parking
Yes

Unit 2 Parking Features

Open Parking
Yes

Unit 3 Parking Features

Open Parking
Yes

Unit 4 Parking Features

Open Parking
Yes

Documents

IDX
Listing Office: Douglas Elliman
Last Updated: August - 11 - 2026
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2026 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
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