5611261 NW 59th Street, Miami, FL 33142
$3,650,000
Property Type:
Commercial Sale
Square Footage:
10,485
Lot Size (sq. ft.):
10,598
Status:
Active
Current Price:
$3,650,000
List Date:
3/05/2026
Last Modified:
3/06/2026
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.
Supplements: 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.
More Information MLS# F10556385
Contract Information
Comp Sale YN: No
Owner Phone: 954-245-3445
Listing Contract Date: 2026-03-05
Status: Active
Original List Price: 3650000
List Price: $3,650,000
Current Price: $3,650,000
Listing Service: Limited Service
Location and Legal
County Or Parish: Miami-Dade
County Parish Name: Miami-Dade
City Name: Miami
Municipal Code: 1
Postal Code: 33142
Subdivision Number: 43
Country: United States
Street Number: 1261
Street Direction Prefix: NW
Street Name: 59th
Street Suffix: Street
State Or Province: FL
Area: 2310
Parcel Number: 01-31-14-043-1130
Zoning: 3901
Directions: I95 to NW 62nd St. Go west to NW 12th Ave. Go south to NW 59th St then West
General Property Information
Number Of Buildings: 1
Leasable Area: 10485
Price Per Unit: 202778
Lot Size Area: 10600
Stories Total: 3
Property Sub Type: Multi Family
Building Area Main: 10485
Year Built: 1957
Parking Total: 18
Lot Size Acres: 0.24
Currently Not Used
Number Of Units Total: 18
Financial Information
Tax Assessed/SOH Value: 1900000
Assessor Market Value: 1900000
Tax Annual Amount: 35705
Tax Year: 2025
Tax Legal 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
Office/Member Information
DXORIGMLSID: FLL
Electric
Separate Meters: 1
Flooring
Vinyl: 1
Parking Features
Common: 1
Property Condition
Resale: 1
Short Sale Details
Short Sale Addendum: No
Fencing
Fenced: 1
Meter Information
Number Of Meters Total: 36
Structure Type
Warehouse: 1
Location of Property
City Location: 1
Possession
Close Of Escrow: 1
Sewer
Public Sewer: 1
Building and Property Details
# Of Tenants: 18
Improvement Height: 3-5 Stories
Business Type
Commercial: 1
Ceiling
Plastered: 1
Common Area Maintenance Includes
Interior Electric: 1
Distance To Information
Miles to Expressway: 1
Sale Includes
Land: 1
Construction Materials
Block: 1
CBS: 1
Listing Terms
1031 Exchange: 1
Cash: 1
Conventional: 1
Road Frontage Type
City Street: 1
Roof
Concrete: 1
Security Features
Fire Alarm: 1
Water Source
Public: 1
Income and Expenses
Gross Income: 408618
Other Income: 9450
Real Estate Taxes: 35705
Utilities Expense: 5460
Vacancy Allowance Rate: 4
Occupancy Percentage: 100
Gross Scheduled Income: 466560
Insurance Expense: 52000
Maintenance Expense: 7200
Manager Expense: 20431
Net Operating Income: 154418
Operating Expense: 154418
Trash Expense: 6600
Description of Unit Type 1
Unit Type: 1 Bedroom
Units Total: 12
Beds Total: 1
Half Baths: 1
Furnished: No
Annual Rent: 1700
Description of Unit Type 2
Units Total: 12
Half Baths: 1
Furnished: No
Annual Rent: 1950
Description of Unit Type 3
Unit Type: 2 Bedroom
Units Total: 6
Beds Total: 2
Half Baths: 1
Furnished: No
Annual Rent: 2200
Showing Requirements
24 Hour Notice: 1
Price Calculations
Current Price To SqFt: 348.12
Section Details
Parcel Number MLX: 1130
Status Change Information
Major Change Timestamp: 2026-03-05T05:00:00Z
Major Change Type: New Listing
Status Change Date: 2026-03-05
Originating Details
Originating System Key: 611112263
Originating System ID: M00000170
Property Features
Business Type: Commercial
Ceiling: Plastered
Common Area Maintenance Includes: Interior Electric
Electric: Separate Meters
Fencing: Fenced
Flooring: Vinyl
Location of Property: City Location
Parking Features: Common
Possession: Close Of Escrow
Property Condition: Resale
Sale Includes: Land
Construction Materials: Block; CBS
Listing Terms: 1031 Exchange; Cash; Conventional
Road Frontage Type: City Street
Roof: Concrete
Security Features: Fire Alarm
Sewer: Public Sewer
Structure Type: Warehouse
Water Source: Public
Showing Requirements: 24 Hour Notice
Documents
*IMPORTANT PLEASE READ* ›
Listing Office:
Home Sold Realty LLC
Last Updated: March - 06 - 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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