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Backup Offers

1620 SW 40th Ave, Miami, FL, 33134

$2,300,000

Home List Price

$10,000*

Closing Credit

0 Baths
3,334 SqFt
$690/SqFt
Multi

Location

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1620 SW 40th Ave, Miami$2,300,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
Year Built1959
HeatingCentral
CoolingCentral Air
MLS #A11645459
StatusAccepting Backup Offers
(Active Under Contract)

About 1620 SW 40th Ave

Exceptional investment opportunity in the highly sought-after Little Gables neighborhood, just minutes from downtown Gables. This stable and reliable four-plex sits on a 7,500 sq ft corner lot and features four 2-bedroom, 1-bath units, each with a 1-year lease at $2,500/month. The property boasts separate electric meters and three split AC units per unit. Residents have access to owned washers and dryers within their individual units. Recent updates include brand-new floors, appliances, bathrooms, impact windows and doors throughout, and more—tenting in June 2021 and 40-year recertification in 2022. The electrical system was upgraded to circuit breakers in 2016, and the roof was resealed in 2014. Please check broker remarks for more information.

Property Details

Property Features

Property Information:

  • Architectural Style: Fourplex
  • Year Built: 1959
  • Stories: 2
  • Living Area: 3,334 SqFt

Listing Office:

  • Office Name: Coldwell Banker Realty
  • Office Phone: (305) 253-2800
  • Listing Agent: Orelvys Sanabria

Interior Features

Interior Information:

  • Flooring Type: Laminate
  • Interior: Skylights

Exterior Features

Exterior Information:

  • Exterior: Security/High Impact Doors

Virtual/3D Tour

  • Virtual Tour: 1620 SW 40th Ave
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Lot Features

Lot Information:

  • Lot: Rectangular Lot

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,300,000
  • Price Per SqFt: $690/SqFt

Tax Information:

  • Annual Amount: $9,459
  • Tax Year: 2020
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Housing Market Comparison

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

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Miami, FL

City

Med. Sold Price

$565.6K

Med. Price/SqFt

$391

Avg. Days On Market

60

# of Sold Homes

595

1620 SW 40th Ave vs Miami

106 DAYS ON ROCKET

+46 Days

$2,300,000

+$1.7M More

$690/SqFt

+$298 More

KEY TAKEAWAY

This property is $1.7M more than the Median Sold Price and $298/SqFt more than other homes in Miami, FL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: SEFMIAMI
  • MLS Number: #A11645459

Listing Office:

  • Office Name: Coldwell Banker Realty
  • Office Phone: (305) 253-2800
  • Listing Agent: Orelvys Sanabria

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: 12/18/2024, 5:20:51 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$9,459$489,536
2018$9,097$481,603
2017$9,266$484,632

History based on county public records data.

Payment Calculator

$11.5K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$6,962

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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.

Nearby Schools

school-card-donut-52299
9
/10

  • Coral Gables Preparatory Academy

  • 105 Minorca Ave

  • 0.29 miles

  • Public District Grades PK-5

school-card-donut-52300
4
/10

  • Auburndale Elementary School

  • 3255 SW 6th St

  • 1.09 miles

  • Public District Grades PK-5

school-card-donut-52301
6
/10

  • Kinlock Park Elementary School

  • 4275 NW 1st St

  • 1.15 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $54,827. Residents of Miami, FL typically earn between $35k-100k each year. The most common type of family is single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Rocket Homes›Florida›Miami-Dade County›Miami›33134›1620 SW 40th Ave

This home is located at 1620 SW 40th Ave in Miami, FL and zip code 33134 in the Shenandoah neighborhood. This 3,334 square foot home was built in 1959. It has been listed on Rocket Homes since September 03, 2024 and is currently priced at $2,300,000.

While more than 38 listings in Miami, FL in November 2024 were sold above asking price, there were more than 112 listings sold at asking price, and more than 445 were sold below. The number of homes for sale in Miami, FL increased by 6.7% between October 2024 and November 2024. Listings spent 60 days on the market in November 2024, and had a median list price of $565,671 during the same period.

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

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