by RH Advisors

See Home Value
$1,300,000
House - Off Market

2040 SW 24th Ter

Miami, FL 33145
bedrooms
6 Beds
bathrooms
5 Baths
square feet
3515 Sqft
$7,609
Estimated Monthly
$0
HOA / Fees
12.72%
Cap Rate

About This Property

6 beds 5 bathroom divided in two structures in a corner oversized lot. Main house and 2 separated apartments. Live in the main house and rent the other two units, use it as a short term rental business... your imagination sets the limit.

The main house (2000 SF) features 3 bedrooms and  bathrooms, extra spacious kitchen, wood and laminated floors and renovated bathrooms. This unit can be rented between $4,500 and $5,500 a month

The second structure (1600 SF)  is divided into 2 units: a 1 bed one bath (800SF, rented for $1,850 month) and a 2 bedrooms.

The property busts a potential income over $8,000.00 a month through regular long term tenants. Short term rentals are also a profitable option.
Unit Size
3,515Ft²
Days on Market
-
Land Size
0.20 acres
Price per sqft
$370
Property Type
House
Property Taxes
$1,225
HOA Dues
-
Year Built
1940
Last updated: 3 months ago (Miami MLS #A11484509)

Price History

Date / Event Date Event Price
Jan 17, 2024 In contract -
In contract
Nov 10, 2023 Listed by Grand Lion Real Estate Group LLC $1,300,000
Listed by Grand Lion Real Estate Group LLC
Oct 20, 2019 No longer available -
No longer available
Apr 17, 2018 Listed by Stratwell, LLC $540,000
Listed by Stratwell, LLC
Beautiful 3/3 home with custom kitchen , real wood floors and marble bathrooms. Master bedroom has walk in closet. Ready to Move in! The manager has listed the unit size as 3365 square feet.

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1940
  • Effective Year Built: 1999
  • Building Count: 1
  • Bedroom Count: 6
  • Bathroom Count: 5
  • Full Bathrooms: 5
  • Partial Bathrooms: 5
  • Construction Type: Concrete block
  • Building Style: Multifamily
  • Exterior Walls Type: Concrete block
  • Roof Cover Type: Slate
  • Floor Count: 1
  • Living Units: 1
  • Basement Area: 0
  • Parking Space Count: 0

    Dimensions

  • Lot Size Square Feet: 8,580
  • Lot Size Depth Feet: 1,430
  • Lot Size Frontage Feet: 600
  • Total Building Area: 3,515
  • Gross Building Area: 3,515
  • Building Area: 3,515
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: unknown
  • Heating: unknown
  • Heated Square Feet: 3,515
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: CAROLINA PARK SUB
  • Land Acres: 0.197
  • Standard Land Use Code: Multi-family dwellings (generic, 2+)
  • Legal Description 1: CAROLINA PARK SUB PB 16-69 LOT 39 LOT SIZE 60.000 X 143 OR 9961 0525 0378 1 COC 26420-2269 06 2008 5

Ownership

  • Current Owner : 19 & 21 NE 48TH STREET INC
  • Previous Owner : HERNANDEZ DANIEL
  • Owner Before Previous Owner: LOPEZ JESUS
  • Ownership Rights Codes: Married Man as his sole & separate property

Neighborhood

  • School District Name: Dade County School District
  • School Tax School District: MIAMI
  • Census Tract: 006902

Zoning

  • Zoning: 0100

Geography

  • Assessors Map Reference: 251
  • District: 01
  • Parcel: 01-4115-040-0300
  • Lot: 39
  • Meridian: SEC 15 TWN 54S RNG 41E
  • Municipality: MIAMI
  • Latitude: 25.7462
  • Longitude: -80.2277

    Address

  • Full Address: 2040 Sw 24th Ter
  • Address - House Number: 2040
  • Street Direction: SW
  • Address - Street Name: 24th
  • Address - Suffix Type: Ter
  • State: FL
  • City Name: Miami
  • Carrier Code: C027
  • 4-Digit Zip Code: 3731
  • Zip Code: 33145

Valuation

    Tax

  • Total Area: 3,384
  • Tax Year: 2023
  • Tax Amount: $18,888
  • Intital Tax Deliquent Year: 2019
  • Tax Rate Code Area: 100

    Appraisal Valuation

  • Standard Deviation: 0.4382
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 12
  • Final Value: 450,502
  • High Value: 647,941
  • Low Value: 253,062

    Market Valuation

  • Market Total Value: $778,000
  • Market Land Value: $600,587
  • Market Improvement Value: $177,413

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $778,000
  • Assessed Land Value: $600,587
  • Assessed Improvements Value: $177,413

    Sales

  • Current Sale Contract Date: Oct 10, 2019
  • Current Sale Recording Date: Oct 15, 2019
  • Current Sale Transaction ID: 11671245934
  • Current Sale Price: $489,300
  • Current Sale Document Type: Trustee's Deed (Certificate of Title)
  • Current Sale Input Document Number: 2019R0644253
  • Previous Sale Recording Date: Feb 15, 2007
  • Previous Sale Contract Date: Aug 22, 2006
  • Previous Sale Amount: $520,000
  • Previous Sale Document Type: Warranty Deed

    Previous Mortgages

  • Previous Mortgage Lender: ARGENT MORTGAGE COMPANY LLC
  • Previous Mortgage Transaction Date: Feb 15, 2007
  • Previous Mortgage Financing Type: Adjustable Rate
  • Previous Mortgage Loan Amount: $416,000
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: Purchase Money Mortgage
  • Previous Mortgage Loan Due Date: Oct 01, 2036



Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
5 Beds
3 Baths
2,560 ft²
$498/ft²
$1,275,000 Jun 9, 2023
$1,275,000 Oct 6, 2023
$1,010/mo
House
5 Beds
3 Baths
2,127 ft²
$503/ft²
$1,070,000 Jun 28, 2023
$1,070,000 Oct 10, 2023
$808/mo
House
4 Beds
4 Baths
2,654 ft²
$431/ft²
$1,145,000 May 2, 2023
$1,145,000 Nov 27, 2023
$638/mo
House
4 Beds
3 Baths
2,392 ft²
$493/ft²
$1,180,000 Aug 17, 2023
$1,180,000 Nov 29, 2023
$1,117/mo
House
3 Beds
3 Baths
2,098 ft²
$558/ft²
$1,170,000 Sep 19, 2023
$1,170,000 Nov 1, 2023
$540/mo
House
3 Beds
3 Baths
2,616 ft²
$373/ft²
$975,000 Aug 4, 2023
$975,000 Sep 20, 2023
$373/mo
House
6 Beds
4 Baths
2,200 ft²
$568/ft²
$1,250,000 Nov 1, 2023
-
$865/mo
House
5 Beds
4 Baths
1,951 ft²
$615/ft²
$1,200,000 May 15, 2023
-
$341/mo
House
4 Beds
3 Baths
2,711 ft²
$516/ft²
$1,399,000 Aug 14, 2023
-
$720/mo
House
5 Beds
4 Baths
1,678 ft²
$685/ft²
$1,150,000 Jun 29, 2023
-
$216/mo
House
4 Beds
3 Baths
2,694 ft²
$557/ft²
$1,500,000 Nov 8, 2023
-
$1,030/mo
House
3 Beds
3 Baths
2,690 ft²
$502/ft²
$1,350,000 Nov 10, 2023
-
$512/mo

About Coral Way


Similar Homes for Sale

Unit for sale at 3711 Southwest 1st Avenue, Miami, FL 33145

$1,350,000

  • 3 Beds
  • 3 Baths
  • 2,690 ft²
3711 Southwest 1st Avenue, Miami, FL 33145 Listing by Raul Orta
Unit for sale at 1900 Southwest 18th Avenue, Miami, FL 33145

$1,500,000

  • 4 Beds
  • 3 Baths
  • 2,694 ft²
1900 Southwest 18th Avenue, Miami, FL 33145 Listing by Medjine Buissereth
Unit for sale at 1917 Southwest 17th Avenue, Miami, FL 33145

$1,150,000

  • 5 Beds
  • 4 Baths
  • 1,678 ft²
1917 Southwest 17th Avenue, Miami, FL 33145 Listing by Brian R Btesh

Nearby Rentals

Unit for rent at 2422 S Miami Ave, Miami, FL, 33129

$18,000 /mo

  • 5 Beds
  • 3 Baths
  • 4,859 ft²
2422 S Miami Ave, Miami, FL, 33129 Listing by RH Advisors Miami
Unit for rent at 1600 Micanopy Ave, Miami, FL, 33133

$20,000 /mo

  • 4 Beds
  • 4 Baths
  • 3,316 ft²
1600 Micanopy Ave, Miami, FL, 33133 Listing by RH Advisors Miami
Unit for rent at 3471 Main Hwy 404 Hwy, Miami, FL, 33133

$21,000 /mo

  • 3 Beds
  • 4.5 Baths
  • 4,963 ft²
3471 Main Hwy 404 Hwy, Miami, FL, 33133 Listing by Alba Biondi PA


Frequently Asked Questions

When was property at 2040 Southwest 24th Terrace built and last sold?
The property at 2040 Southwest 24th Terrace was built in 1940 and last sold on Oct 10, 2019 for $489,300.
How much is this home worth?
The estimated value of the home located at 2040 Southwest 24th Terrace is $1,313,000.
What are some comparable homes to 2040 Southwest 24th Terrace?
Homes that are comparable to 2040 Southwest 24th Terrace include a house property at 2221 Southwest 26th Lane, 1721 Southwest 24th Terrace, 2475 Southwest 26th Lane.

Quantcast