Legal 3-Unit
1220-1222 Northeast 110th Terrace Miami, FL 33161
For Sale
$749,000
Fully legal three-unit triplex with two 2/1 units and a renovated efficiency, separately metered utilities.
Property Size2,090 SF
Price / SF$358.37
Days on Market166
Property Features for 1220-1222 Northeast 110th Terrace
General Information
- Standard status
- Active
- Size
- 2,090 SF
- Property subtype
- Multi-Family Income / Triplex
Building Details
- Year Built
- 1954
Listing Agency:
Dalton Wade Inc
(941) 266-6873
Listed By:
Elizabeth Hicks · License #3625758
(941) 266-6873
Source:
Compass
Added: Feb 7
Changed: Jul 23
Last Checked: Jul 23 at 3:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dalton Wade Inc
Investment Insights
Based on property information with market context.
1220-1222 Northeast 110th Terrace presents a fully legal 3-unit triplex with two 2/1 units and one renovated efficiency. One 2/1 unit is currently vacant and has been marketed for $1,850 per month. The second 2/1 unit rents month-to-month at $1,750 per month. The renovated efficiency is leased at $1,395 per month through August 31, 2026, with an option to renew.
The property is configured with separately metered utilities. Tenants pay their own electricity. Water is included up to $75 per month, and any overage is split among the tenants. Expenses are estimated at approximately $8,000 per year.
Located near Biscayne Blvd in Miami, the triplex is described as being minutes to Downtown Miami, beaches, and major highways, and surrounded by shopping centers, restaurants, and businesses.
The property is configured with separately metered utilities. Tenants pay their own electricity. Water is included up to $75 per month, and any overage is split among the tenants. Expenses are estimated at approximately $8,000 per year.
Located near Biscayne Blvd in Miami, the triplex is described as being minutes to Downtown Miami, beaches, and major highways, and surrounded by shopping centers, restaurants, and businesses.
Key Highlights
- Fully legal 3‑unit triplex built in 1954 with two 2/1 units and one renovated efficiency
- Unit mix: one 2/1 vacant (previously $1,850/mo until Sep 2025, now marketed at $1,850/mo), one 2/1 month‑to‑month at $1,750/mo
- Renovated efficiency leased at $1,395/mo through Aug 31, 2026 with option to renew
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.0k | $30.60 |
| − Vacancy | −$4.1k | −$1.95 |
| EGI | $59.9k | $28.65 |
| − OpEx | −$18.0k | −$8.60 |
| NOI | $41.9k | $20.06 |
2,090 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$598.8K
$524.0K – $698.6K
NOI $41,916 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$551.6K
$482.6K – $643.5K
NOI $38,609 @ 7.0% cap · market cap 5.15%
Theoretical Best
Specialty Retail
$1.41M
$1.23M – $1.65M
NOI $98,753 @ 7.0% cap · market cap 13.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Fully legal three-unit triplex with two 2/1 units and a renovated efficiency, separately metered utilities.
Where is this triplex located?
The property is located at 1220-1222 Northeast 110th Terrace Miami, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Fully legal 3‑unit triplex built in 1954 with two 2/1 units and one renovated efficiency; Unit mix: one 2/1 vacant (previously $1,850/mo until Sep 2025, now marketed at $1,850/mo), one 2/1 month‑to‑month at $1,750/mo; Renovated efficiency leased at $1,395/mo through Aug 31, 2026 with option to renew
