3-Unit Multifamily
For Sale
$1,168,000
2160 NW 18th Ter, Miami, FL 33125
Residential Income, Miami, FL
Property Size2,552 SF
Price / SF$457.68
Days on Market51
Property Features for 2160 NW 18th Ter
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
5700
Bedrooms
5
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 1
Parking
4
Window features
Blinds
Subdivision
OCOEE PARK
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-34-014-0172
Size
2,552 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
34 53 41 OCOEE PARK PB 2-100 LOT 7 LESS N5FT BLK 2 LOT SIZE 50.000 X 131 OR 19091-2421 04 2000 5
Tax Annual Amount
11464
Legal Description
34 53 41 OCOEE PARK PB 2-100 LOT 7 LESS N5FT BLK 2 LOT SIZE 50.000 X 131 OR 19091-2421 04 2000 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Amenities
in-unit washer/dryer
Building Details
Year built
1956
Floors in Building
1
Flooring type
Vinyl, Tile
Building materials
Brick, Block
Roof type
Shingle
Listing Agency:
Luxe Properties
(305) 809-7650
Listed By:
Nicole Trenk · License #3525425
(214) 909-3817
Added: Aug 12
Changed: Sep 28
Last Checked: Oct 1 at 4:06PM
MLS# A12069712
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,552-square-foot triplex contains three living units and was renovated with new appliances, impact windows and doors, tile and vinyl flooring, central heating, and central air. Each residence has its own washer and dryer. The building was constructed in 1956, includes brick and block construction, and is served by public sewer.
The property is fully rented with a one-year lease in place. The rear unit has an unresolved City of Miami compliance issue involving the fence, electrical, and plumbing. The purchaser will assume responsibility for addressing the violation and completing the required work. Downtown Miami and Miami International Airport are identified as nearby destinations. Showings require advance coordination around tenant schedules.
The property is fully rented with a one-year lease in place. The rear unit has an unresolved City of Miami compliance issue involving the fence, electrical, and plumbing. The purchaser will assume responsibility for addressing the violation and completing the required work. Downtown Miami and Miami International Airport are identified as nearby destinations. Showings require advance coordination around tenant schedules.
Key Highlights
- Three living units totaling 2,552 square feet
- Renovated with new appliances and impact windows and doors
- Separate washer and dryer provided for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,182
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,023,640
$1.0M
Cap Rate 7%
$731,171
$731.2K
Cap Rate 9%
$568,689
$568.7K
Market Conditions
NOI Build-Up for 2,552 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$78.1K $30.60/SF
− Vacancy
−$5.0K −$1.95/SF
EGI
$73.1K $28.65/SF
− OpEx
−$21.9K −$8.60/SF
NOI
$51.2K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,023,640
Cap Rate 7%
$731,171
Cap Rate 9%
$568,689
Alternative Uses
Best Use
Multifamily LT 5
$731.2K
$639.8K – $853.0K
NOI $51,182 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$673.5K
$589.3K – $785.7K
NOI $47,144 @ 7.0% cap · market cap 4.04%
Theoretical Best
Specialty Retail
$1.72M
$1.51M – $2.01M
NOI $120,583 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated rental property with separate laundry, impact openings, and central cooling for each residence.
Where is this triplex located?
The property is located at 2160 NW 18th Ter Miami, FL.
What is the asking price?
The asking price for this property is $1,168,000.
What are key features of this property?
This property features: Three living units totaling 2,552 square feet; Renovated with new appliances and impact windows and doors; Separate washer and dryer provided for each unit
