Home » Properties » 3210 E Elizabeth St, Miami FL 33133

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Income-Producing Duplex in Coconut Grove, Miami

Rare fully leased duplex on a 6,000 sqft lot in Coconut Grove, ideal for redevelopment into luxury townhomes.

$1,875,000

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MLS #A11839361

Listing Updated: 2026-07-13 12:38:29

Listed By: Avanti Way Realty LLC

Overview

This income-producing duplex located at 3210 E Elizabeth St in Miami’s Coconut Grove presents a unique development opportunity. Sitting on a 6,000 sqft lot zoned for duplex use, the property is fully leased with two reliable tenants. The site offers potential for new construction, with conceptual plans for two luxury townhomes of approximately 1,845 sqft each, featuring three bedrooms and three bathrooms. Estimated construction costs are around $200 per sqft, with an all-in projected cost near $1.3 million per townhome. Comparable resale properties in the area suggest strong upside potential for developers. The location is highly desirable, close to parks, shops, schools, and dining options, making it attractive for future residents.

Property Highlights

Fully leased duplex with stable tenants, 6,000 sqft duplex-zoned lot, conceptual plans for two luxury townhomes, prime Coconut Grove location near amenities, estimated construction cost $200/sqft.

Property Details

City: Miami

State: FL

Zip Code: 33133

Address: 3210 E Elizabeth St, Miami FL 33133

Year Built: 1948

Property Type: Residential Income

Property Sub Type: Duplex

Listing Office Name: Avanti Way Realty LLC

County: Miami-Dade County

Garage Spaces:

Parking Features:

Interior Features:

Exterior Features:

Waterfront: No

Pool: No

HOA Fee: $0

Annual Tax: $14,098

Days On Market: 328 Days

Original Listing Description

Rare development opportunity in the heart of Coconut Grove! Fully leased, income-producing duplex on a 6,000 SF duplex-zoned lot with two excellent tenants in place. Ideal for new construction, build two luxury townhomes (approx. 1,845 SF each, 3 bed / 3 bath). Estimated hard cost is $200/SF, with a projected all-in cost of $1.3M per townhome. Resale comps in the $1.6M+ range offer strong upside for developers. Utilities at street. Lot may be split, buyer to verify with city. Prime location near parks, shops, schools, and dining. Drive-by only; do not disturb tenants. Showings will be scheduled for serious buyers only. Conceptual plans available for illustration purposes only.

Property Location

Explore the surrounding area, nearby amenities, and neighborhood access for this property.

3210 E Elizabeth St, Miami FL 33133

About This Neighborhood

Coconut Grove is one of Miami’s most established neighborhoods, known for its lush greenery, historic charm, and vibrant community. Residents enjoy proximity to parks, boutique shops, quality schools, and a variety of dining options. The area blends a relaxed lifestyle with urban conveniences, attracting families, professionals, and creatives alike. Its walkable streets and waterfront access contribute to a desirable living environment. This neighborhood’s blend of natural beauty and amenities makes it a favored location for both homeowners and investors.

Walkability & Lifestyle

Coconut Grove offers a walkable lifestyle with numerous shops, cafes, and restaurants within easy reach. Residents can enjoy leisurely strolls to local parks and waterfront areas, enhancing daily convenience and recreation. The neighborhood’s pedestrian-friendly streets and green spaces encourage outdoor activity and community engagement. Access to public transportation and nearby amenities further supports a connected and vibrant living experience.

Things To Do Nearby

The location near parks, marinas, and dining venues provides ample recreational options. Residents can enjoy boating, waterfront walks, and cultural events typical of Coconut Grove. The neighborhood’s blend of outdoor activities and social venues offers a balanced lifestyle. Nearby shopping and entertainment options add to the variety of things to do, making it a well-rounded area for both relaxation and active living.

Nearby Schools

The area around 3210 E Elizabeth St offers convenient access to several well-regarded schools, making it attractive for families. Proximity to educational institutions enhances the neighborhood’s appeal and supports stable rental demand. Easy access to schools also benefits residents by reducing commute times and providing quality learning environments nearby. This contributes positively to the overall livability of the Coconut Grove community.

Why Buyers Like This Area

Buyers appreciate Coconut Grove for its unique combination of natural beauty, urban amenities, and community atmosphere. The neighborhood’s established reputation, convenient location, and access to quality schools and parks make it a preferred choice. Properties like this duplex appeal due to their income potential and redevelopment possibilities. The area suits a range of buyers, from investors to families seeking a balanced lifestyle in Miami.

Investment Potential

This property offers a rare chance for investors interested in Miami’s Coconut Grove neighborhood. The fully leased duplex provides immediate income while allowing for future redevelopment into luxury townhomes. The location near parks, schools, and shopping enhances tenant appeal and long-term value. Developers can capitalize on the lot’s zoning and strong market demand for upscale housing. While rental income is stable now, the potential for new construction adds a strategic dimension for buyers seeking to maximize property use in a sought-after area.

Market Trends

The Coconut Grove real estate market remains steady with consistent buyer interest, driven by limited inventory and the neighborhood’s appeal. Properties zoned for redevelopment are particularly sought after, as demand for luxury townhomes and modern residences grows. Market dynamics favor sellers with well-located lots and income-producing assets. Buyers benefit from the area’s long-term desirability and the potential for property enhancement. Overall, Coconut Grove continues to attract attention for its blend of lifestyle and investment opportunities.

Rental Income Potential

The duplex currently generates rental income from two tenants, offering immediate cash flow. Coconut Grove’s strong rental market supports tenant demand, especially given the proximity to schools, parks, and local amenities. Seasonal and year-round rental interest tends to be high, benefiting properties with good location and condition. Investors should consider the existing rental stability alongside the redevelopment potential, which may influence future income scenarios. The property’s usability as an income asset or development site provides flexibility for various investment strategies.