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Pending
Single Family Residence
$5,699,000$1,320 / sqft

1228 Alhambra Cir, Coral Gables FL 33134

6
Bedrooms
5
Bathrooms
4,319 sqft
Interior
1927
Year built
None
HOA
Single Family Residence
Type

About this home

On a vast, park-like half-acre-plus property, this venerable, classic "Old Spanish" style villa—designed by Alexander Dentman and greatly expanded in 1929 by Phineas Paist—offers preserved original charm and character in perfect harmony with its recent professional updating. There is a main two-story residence and a lavish 2-bedroom, two-bath separate guest house. Both structures are fully renovated with impact windows, new bathrooms, chef's kitchen with 6 burner Viking gas range and brand-new Sub-zero refrigerator, new 37' long pool, new landscaping and more. Phineas Paist (1873–1937) was the supervising architect for the Coral Gables Corporation and is credited with shaping the aesthetic identity of Coral Gables, Florida. He was a master of the Mediterranean Revival style, often collaborating with artists like Denman Fink to create iconic public spaces and landmarks. His portfolio includes some of the most recognizable structures in South Florida, many of which are listed on the National Register of Historic Places including Villa Vizcaya, Coral Gables City Hall, Venetian Pool, The Colonnade Building, the Old United States Courthouse and Douglas Entrance. This walled and gated close to 5000 square foot home has 6 bedrooms and 4.5 baths and is located close to The Coral Gables Country Club, Granada Golf Course, the Venetian Pool and is just a 15-minute Uber ride to Miami International Airport.

Features

  • French Doors
  • Walk-In Closet(s)
  • Cottage
  • Family Room
  • Separate Guest/In-Law Quarters
  • Maid/In-Law Quarters
  • Lighting
  • Pool

Location

Approximate — shows the building, not the unit. Open in maps (opens in a new tab)

Estimated loan & HOA

$28,817

Loan payment and HOA only. Property tax and insurance are significant here and are not included.

Principal & interest
$28,817
HOA
None

Illustration only — not a loan offer, quote, or commitment. Assumes a 30-year loan at 6.5% with 20% down (rates as of July 2026); your actual terms will differ.

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Courtesy of
Coldwell Banker Realty

Run the numbers

We fill in the price and the building's HOA dues. That leaves rent, tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Vacancy and the loan terms below start at common defaults; change them.

Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management

Cap rate
Cash-on-cash
Monthly cash flow
Net operating income

Enter rent, property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.

Illustration only — not a loan offer, quote, or investment advice. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.

Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.