Map of Property

Palm Grove

490 NE 62nd St, Miami, FL 33138

  • For Sale $1,375,000
  • Property Type Multi-Family
  • Property Size 3,050 SF
  • Units 6
  • Lot Size 7,700 SF
  • Year Built 1938
  • Date Updated Mar 17, 2025

Chariff Realty Group proudly presents an exceptional investment opportunity within Miami’s thriving real estate market. This 6-unit multifamily property not only provides a steady income stream but also holds significant development potential for savvy investors.

 

490 NE 62 St is perfect for investors or developers looking to blend rental income with long-term growth through strategic redevelopment. This property’s prime & high-demand location and versatile potential make it a rare and valuable addition to any real estate portfolio.

 

PROPERTY HIGHLIGHTS:

 

• 6 Units Multifamily

 

• 100% Occupancy

 

• Value Add Potential

 

• Redevelopment into 4-6 Luxury Townhomes

 

• Potential Assemblage Opportunity

 

AREA HIGHLIGHTS:

 

• Minutes away from the Miami Design District, home to high-end shopping, fine dining, art galleries, and luxury brands 

 

• Quick access to I-95 and Biscayne Boulevard allows for easy commuting to Miami’s Urban Core

 

• 15-20 minute drive to Miami Beach, providing quick access to some of the most popular beaches in the world

 

• Palm Grove has been rapidly transforming with new developments and upscale/luxury residential projects 

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Contacts

broker
Lyle Chariff Is this you?

Chariff Realty Group

broker
Mauricio Zapata Is this you?

Chariff Realty Group

broker
Alejandro Agudelo Is this you?

Chariff Realty Group

Location

Getting Around

  • Walk Score ®

    85/100 Very Walkable

  • Transit Score ®

    51/100 Good Transit

  • Bike Score ®

    78/100 Very Bikeable
Powered by Walk Score ®
  • City Miami, FL
  • Neighborhood Upper East Side
  • Zip Code 33138
  • Market Miami

Points of Interest

  • MiamiCentral

    3.88 miles

  • Brickell City Centre

    4.59 miles

  • Miami

    4.60 miles

  • Hialeah Market

    4.75 miles

  • Miami Airport

    5.12 miles

  • Miami Intermodal Center

    5.17 miles

  • Opa-Locka

    6.21 miles

  • MIA Station

    6.22 miles

  • Gates E2-E11

    6.38 miles

  • 4

    6.54 miles

  • Chevron

    0.18 miles

  • BP

    0.96 miles

  • Exxon

    1.19 miles

  • Tesla Supercharger

    1.41 miles

  • Shell

    1.53 miles

  • Valero

    1.59 miles

  • 7-Eleven

    1.68 miles

  • ChargePoint Charging Station

    2.97 miles

  • ChargePoint

    4.00 miles

  • Blink

    5.98 miles

  • PARADISE PLAZA GARAGE

    1.34 miles

  • Museum Garage

    1.40 miles

  • PALM COURT GARAGE

    1.50 miles

  • CITY VIEW GARAGE

    1.54 miles

  • Highland Professional Building

    3.15 miles

  • North Parking Garage

    3.17 miles

  • Baskon Palmer Private Parking

    3.20 miles

  • Park Plaza East

    3.22 miles

  • Park Plaza West

    3.43 miles

  • Jungle Island

    3.47 miles

  • Sinbad Motel

    0.13 miles

  • Shalimar Motel

    0.14 miles

  • South Pacific Motel

    0.15 miles

  • Carl's El Padre Motel

    0.17 miles

  • Seven Seas Motel

    0.19 miles

  • New Yorker Miami Hotel

    0.24 miles

  • Biscayne Inn

    0.35 miles

  • Saturn Motel - Miami

    0.46 miles

  • Treehouse Studio Hotel

    0.55 miles

  • King Motel

    0.56 miles

  • Blue Collar

    0.34 miles

  • Balans

    0.35 miles

  • Andiamo! Brick Oven Pizza

    0.37 miles

  • Subway

    0.40 miles

  • CHICA Restaurant

    0.42 miles

  • Via Verdi

    0.43 miles

  • Dogma Grill

    0.50 miles

  • Burger King

    0.58 miles

  • Jimmy's Eastside Diner

    0.59 miles

  • Nido Caffe

    0.66 miles

  • Lincoln-Marti School 9th Campus

    0.14 miles

  • The Cushman School

    0.15 miles

  • Thomas Tots Kindergarten

    0.18 miles

  • Morningside Elementary School

    0.24 miles

  • Turners Kindergarten

    0.35 miles

  • Toussaint L'ouverture Elementary School

    0.57 miles

  • Small Fry Educational Day Care - Third Campus

    0.70 miles

  • Yahweh Education Center

    0.71 miles

  • Young Years Day Care

    0.74 miles

  • Corpus Christi School

    0.78 miles

  • Eaton Park Day Care Center

    0.11 miles

  • Notre Dame Day Care Center

    0.44 miles

  • Cecile Day Care Center

    0.52 miles

  • Super Kids Christian Day Care Center

    0.59 miles

  • Lemon City Day Care Center

    0.61 miles

  • Lemon City Park Day Care Center

    0.63 miles

  • Our Little Ones Day Care Center

    0.75 miles

  • Canaan Child Development Center

    0.83 miles

  • Stafford Day Care Center

    0.86 miles

  • McDonald's Playworld of Knowledge Day Care Center

    0.87 miles

Frequently Asked Questions

How much does Palm Grove cost?

The space currently listed for sale at Palm Grove asks for $1,375,000.

What is the total square footage of Palm Grove?

Palm Grove totals 3,050 square feet.

When was this property built?

Palm Grove was built in 1938.

Looking for more in-depth information on this property?

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