259 NE 111th St, Miami FL 33161

About this property

Nestled between Biscayne Park and Miami Shores, this tropical multi-unit property is within walking distance to Miami Country Day School. High elevation, no flood zone, multi-unit parcel in unincorporated Miami-Dade so property taxes are almost half of the neighboring communities—maximizing your net return. This turnkey residential legal duplex generates $5,150/month gross ($61,800/yr). The front unit is divided into two efficiencies, both are rented at $1,200 per month, both of these tenants are on annual leases. Both feature a flexible 30-day right to cancel. All security deposits transfer to the buyer. The rear unit has a 2-year lease ending Aug-2028, rent is $2,750 per month and escalates to $2,800 in August 2027. Rents include utilities. Capital improvements offer total peace of mind: a new roof (2024), newer central A/C system, new impact windows/doors, a paved parking lot, washer/dryer, and the extra building/shed with electricity that conveys. There are two separate electric meters (one for the back unit, one for the two front units) and one shared water meter. Property has a total of three tankless water heaters. The full report of 2026 4-Points Inspection and Wind Mitigation Reports are attached in the listing.

Location