Commercial Sale · Multi Family
1261 NW 59th Street, Miami FL 33142, MIAMI, FL, 33142
Active166 days on marketListed Mar 5, 2026MLS #F10556385
About this property
The property at a glance
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.
10,485
Building sq ft
$348
Price / sq ft
0.2433
Lot acres
1957
Year built
18
Units
1
Building
3901
Zoning
Multi Family
Property type
The numbers
Investment snapshot
4.2%
Cap rate
$154,418
Net operating income
$408,618
Gross income (yr)
$202,778
Price / unit
18
Units
Estimated payment (illustrative)
Estimated payment
$19,548/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask Solance to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
25,017
Population
$36,974
Median income
35
Median age
3
Avg household
$350,122
Median home value
$1,376/mo
Median rent
3,231
Households w/ kids
Consumer profile
The party don't stop until the sun comes up. Loud music, crowds, and shots are a recipe for a great night out for these people.
Dropping the beat and raising the roof, this population enjoys everything hip hop culture has to offer, including music, dance moves, and fashion.
Driven to succeed in the business world, this population seeks to progress in their career through networking happy hours, summits, and connecting with other professionals online.
This population seeks to advocate for a more just world. Common activities include protests, rallies, and spreading awareness to the public about social justice issues.
Movie buffs and binge watchers expressing their love for movies, storytelling, and the film making process.
Galleries, city murals, and skillful latte art gets this population excited. They're always on the lookout for creative expression.
Recent sales
What actually sold near 1261 NW 59th Street
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$1,000,000
1459 NW 60th Street, Miami FL 33142
Sold Jan 30, 2026
$2,500
155 NE 1st Pl, Miami FL 33138
Sold Jun 1, 2026
$227,500
Miami Shores NE 1, Miami Shores FL 33138
Sold Jun 30, 2026
Your team
The pros in your corner
Your agent
Solance Kallendorf
REALTOR® · CENTURY 21 Edge
Tours, offers, and every question about 1261 NW 59th Street — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 1261 NW 59th Street.
See it in person
Schedule a tour
Live availability from Solance's calendar — pick a time and it's booked.
Keep looking
Similar properties nearby
IDX information 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. Data is deemed reliable but is not guaranteed accurate by Miami Association of REALTORS®.
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