Three-Unit Property with Gated
For Sale
$999,000
2453 SW 17th St, Miami, FL 33145
Residential Income, Miami, FL
Property Size2,211 SF
Price / SF$451.83
Days on Market71
Property Features for 2453 SW 17th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 4
Parking
6
Subdivision
GRAPELAND
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-10-002-2970
Size
2,211 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
GRAPELAND SUB REV PB 3-196 LOT 20 LESS S10FT BLK 14 LOT SIZE 50.000 X 144
Tax Annual Amount
13261
Legal Description
GRAPELAND SUB REV PB 3-196 LOT 20 LESS S10FT BLK 14 LOT SIZE 50.000 X 144
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Zoned, Ceiling Fan(s)
Amenities
private patios
washer/dryer
gated parking
Building Details
Year built
1924
Floors in Building
1
Flooring type
Laminate, Tile - Ceramic
Building materials
Block
Roof type
Shingle, Concrete
Listing Agency:
Douglas Elliman
(305) 695-6060
Listed By:
Duber Baptista · License #3476366
(786) 387-1115
Added: Jul 18
Changed: Sep 25
Last Checked: Sep 26 at 6:06PM
MLS# A12028304
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 triplex includes three separate residences with independent entrances and a combined 2,211 square feet of interior space. The front residence contains 3 bedrooms and 2 bathrooms and is currently operated as a full-time Airbnb. A rear 1-bedroom, 1-bathroom residence and a detached 1-bedroom, 1-bathroom cottage complete the configuration. The property also includes two private patios, two sets of washers and dryers, and a large gated parking area serving the units.
Built in 1924, the property features block construction, laminate and ceramic tile flooring, zoned cooling, ceiling fans, a public sewer connection, and cable availability. The shingle and concrete roof was replaced in 2024. Located at 2453 SW 17th St in Miami, the property is within Miami-Dade County and carries ZIP Code 33145.
Built in 1924, the property features block construction, laminate and ceramic tile flooring, zoned cooling, ceiling fans, a public sewer connection, and cable availability. The shingle and concrete roof was replaced in 2024. Located at 2453 SW 17th St in Miami, the property is within Miami-Dade County and carries ZIP Code 33145.
Key Highlights
- Three residences with independent entrances
- 2,211 square feet with a 3‑bedroom, 2‑bathroom front unit
- Rear 1‑bedroom, 1‑bathroom residence plus detached 1‑bedroom, 1‑bathroom cottage
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
$44,343
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
4.44%
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%
$886,860
$886.9K
Cap Rate 7%
$633,471
$633.5K
Cap Rate 9%
$492,700
$492.7K
Market Conditions
NOI Build-Up for 2,211 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
$67.7K $30.60/SF
− Vacancy
−$4.3K −$1.95/SF
EGI
$63.3K $28.65/SF
− OpEx
−$19.0K −$8.60/SF
NOI
$44.3K $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%
$886,860
Cap Rate 7%
$633,471
Cap Rate 9%
$492,700
Alternative Uses
Best Use
Multifamily LT 5
$633.5K
$554.3K – $739.1K
NOI $44,343 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$583.5K
$510.6K – $680.8K
NOI $40,845 @ 7.0% cap · market cap 4.09%
Theoretical Best
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,471 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,467
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences offer independent entrances, private outdoor areas, and shared laundry amenities.
Where is this triplex located?
The property is located at 2453 SW 17th St Miami, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three residences with independent entrances; 2,211 square feet with a 3‑bedroom, 2‑bathroom front unit; Rear 1‑bedroom, 1‑bathroom residence plus detached 1‑bedroom, 1‑bathroom cottage
