560 NE 63rd St, Miami, FL, 33138
About This Home
Fully renovated 4-unit multifamily in the highly desirable MiMo District / Upper East Side, delivering an attractive ~5.9% cap rate in one of Miami’s most rapidly appreciating submarkets. This turnkey asset features four spacious 2BR/2BA units (~700 SF each), all upgraded with modern kitchens, updated bathrooms, new flooring, and central A/C. Brand-new roof (2026) significantly reduces future capital expenditures, enhancing long-term returns and investor confidence. The property also includes on-site laundry, assigned parking, and efficient layouts with strong tenant appeal. Individually metered water (submeters for each unit) allows utility costs to be passed through to tenants, reducing owner expenses and improving overall NOI. Positioned just steps from Biscayne Blvd and minutes to the Design District, Midtown, Wynwood, and Downtown Miami, this location drives consistent rental demand and supports premium rents. Ideal for investors seeking immediate cash flow + appreciation upside, with a stabilized asset in a high-growth corridor. Opportunities at this cap rate for renovated product in MiMo are increasingly rare. Easy to show. Contact listing agent for financials and rent roll.
Getting Around
Very Walkable
Good Transit
BikeableSchools
Construction
Condition
- Year built: 1969
Materials
- Roof: Shingle
- Construction materials: Concrete Block Construction
Type & Style
- Home type: MultiFamily
- Property subType: Quadruplex
Interior
Bedrooms & Bathrooms
- Bedrooms: 8
- Bathrooms: 8
Features
- Flooring: Wood
Heating & Cooling
- Heating features: Central
- Cooling features: Central Air
Interior Area
- Total structure area: 2,803
- Total interior livable area: 2,803 sqft
Property
Details
- Parcel number: 0132180240870
- Zoning: 3900
Features
- Stories: 2
Lot
- Features: Less Than 1/4 Acre Lot
Parking
- Total spaces: 4
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Coastal Flooding
- Hurricane
- Cold Wave
- Heat Wave
- Lightning
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Miami-Dade County and Florida
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $8,343 | $100,116 |
| Home Insurance * | $1,562 | $18,744 |
| Property Taxes | $3,291 | $39,492 |
| Electricity | $282 | $3,385 |
| Total | $13,478 | $161,736 |
Income You'd Need if You Spent...
Florida FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-29 | Listed for sale | $1,650,000 |
| 2026-03-01 | Listing removed | $1,650,000 |
| 2026-01-26 | Listed for sale | $1,650,000 |
| 2026-01-24 | Listing removed | $1,625,000 |
| 2025-12-23 | Price change | $1,625,000 |
| 2025-12-18 | Listed for sale | $16,250,000 |
| 2025-04-14 | Sold | $1,200,000 |
| 2018-02-06 | Sold | $582,000 |
| 2010-06-15 | Sold | $121,600 |
| 2004-11-22 | Sold | $450,000 |
| 2003-08-07 | Sold | $260,000 |
| 1996-11-04 | Sold | $67,500 |
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