1497 NE 118 TER, North Miami Beach, FL 33161

1497 NE 118 TER, North Miami Beach, FL 33161 is a 3-bedroom, 2-bathroom multifamily 2-9 units : 2 living units built in 1956 with 2,591 square feet of living space on a 8,400 square foot lot. The property is currently owned by OCEAN WAY CAPITAL INC C/O ELEONORA DEPALMA PA, recorded as of 2026-04-19. The mailing address differs from the property address, suggesting this may be an investment property or rental.

The most recent sale was on 2017-03-15 for $350,000, when HENJO HOLDINGS LLC sold to OCEAN WAY CAPITAL INC. The property has appreciated $175,000 (100%) since the prior sale of $175,000 on 2016-05-27. There are 3 recorded sales for this property.

The 2025 assessed value is $460,593 with a market value of $549,379. This breaks down to $344,400 for the land and $204,979 for the building. The assessed value increased 10% from $418,721 in 2024.

The median household income in this area is $75,434, and the median home value is $-666,666,666. The population density is 15,606 people per square mile. 1497 NE 118 TER, North Miami Beach, FL 33161 is located in North Miami Beach, Florida.

Property records, tax assessments, sales history, and ownership information for this North Miami Beach property are sourced from miami_dade County public records. The complete ownership history of this property spans from 2016 to 2017, with 3 recorded transactions in the public record. The current assessed value represents 132% of the most recent sale price.

This high ratio could indicate the property was purchased below market value — a potential sign of a distressed sale or off-market deal. Based on the most recent sale, this property traded at $135 per square foot — a key metric for comparing value across North Miami Beach's real estate market..