Description

Exceptional investment opportunity in highly desirable Coconut Grove! This well-maintained fourplex features four spacious 2-bedroom, 1.5-bathroom units (875 Square Feet per unit), each offering a private patio as well as an exclusive rooftop terrace—an uncommon and highly desirable feature for star gazers. The gated property provides secure access and includes parking for two vehicles per unit.

Each unit has its own separate folio number, creating a rare opportunity for a potential condo conversion or flexible ownership structure. All units are currently occupied by long-term tenants, providing immediate income, with rents currently below market rates and strong upside potential for increased revenue.
Ideally located near the parks, marinas, dining, shopping, and waterfront lifestyle that make Coconut Grove one of Miami’s most sought-after neighborhoods, this property offers both stable cash flow and long-term appreciation potential.
DO NOT DISTURB TENANTS. Showings by appointment only after executed contract.

Address

Open on Google Maps

Address: Coconut Ave
City: Miami
State/county: Miami-Dade County
Zip/Postal Code: 33133
Area: PALM TERRACE

Details

Updated on March 17, 2026 at 3:06 am

Property ID A11977562
Price $3,000,000
Property Size 3500 Square Feet
Year Built 2008
Type Quadruplex
Property Status Residential Income

Additional details

ArchitecturalStyle Attached
AssociationFee 0
AssociationFeeFrequency Monthly
BuildingAreaTotal 3500
BuildingAreaUnits Square Feet
BuildingName PALM TERRACE
ConstructionMaterials CBS Construction
ContractStatusChangeDate 2026-03-09
Cooling Central Air
DaysOnMarket 7
Directions Please use GPS. In Coconut Grove on Coconut Ave.
DocumentsAvailable Deposit - Last Months Rent, Deposit - Security, Copy Of Lease(S)
ExpirationDate 2026-09-30
Flooring Tile
Heating Central
InternetAddressDisplayYN 1
InternetEntireListingDisplayYN 1
ListAOR A-Miami Association of REALTORS
ListAgentDirectPhone 305-632-7232
ListingTerms All Cash, Conventional
LotFeatures Less Than 1/4 Acre Lot
LotSizeSquareFeet 0
MLSAreaMajor Palm Terrace
MajorChangeTimestamp March 9, 2026 at 02:14pm
MajorChangeType New
MlsStatus Active
ModificationTimestamp March 16, 2026 at 04:29pm
NumberOfUnitsInCommunity 4
NumberOfUnitsTotal 4
OnMarketDate 2026-03-09
OriginalEntryTimestamp March 9, 2026 at 02:14pm
OriginalListPrice 3000000
OriginatingSystemID miamire
OriginatingSystemKey miamire
OriginatingSystemName Miami Association of REALTORS®
OtherExpense 0
ParcelNumber 01-41-16-166-0001
ParkingTotal 8
PhotosChangeTimestamp March 9, 2026 at 02:15pm
PhotosCount 18
PostalCodePlus4 3787
PriceChangeTimestamp March 5, 2026 at 09:42pm
PublicSurveyRange 41
PublicSurveySection 16
PublicSurveyTownship 41
RentIncludes None
Roof Flat Tile
Sewer Public Sewer
ShowingInstructions Appointment Only, See Broker Remarks
SourceSystemKey 438383273
StateOrProvince FL
StatusChangeTimestamp March 9, 2026 at 02:14pm
Stories 3
StoriesTotal 3
StreetName Coconut Ave
StreetNumber 2945
StreetNumberNumeric 2945
StructureType Quadruplex, Fourplex
SyndicationRemarks Exceptional investment opportunity in highly desirable Coconut Grove! This well-maintained fourplex features four spacious 2-bedroom, 1.5-bathroom units (875 Square Feet per unit), each offering a private patio as well as an exclusive rooftop terrace—an uncommon and highly desirable feature for star gazers. The gated property provides secure access and includes parking for two vehicles per unit. Each unit has its own separate folio number, creating a rare opportunity for a potential condo conversion or flexible ownership structure. All units are currently occupied by long-term tenants, providing immediate income, with rents currently below market rates and strong upside potential for increased revenue. Ideally located near the parks, marinas, dining, shopping, and waterfront lifestyle that make Coconut Grove one of Miami’s most sought-after neighborhoods, this property offers both stable cash flow and long-term appreciation potential. DO NOT DISTURB TENANTS. Showings by appointment only after executed contract.
TaxAnnualAmount 35354
TaxLegalDescription COCONUT DEVELOPERS CONDO PALM TERR PB 3-47 LOT 18 BLK 1 AS DESC IN DECL OR 26747-2881 LOT SIZE 7500 SQFT FAU 01-4116-029-0160
TaxYear 2025
WaterSource Municipal Water
YearBuiltDetails Resale
Zoning 3900