Three-Unit
For Sale
$660,000
1563 NE 148th Street, Miami, FL 33161
Three separately configured residences offer a varied bedroom mix and renovation needs for a multifamily buyer.
Property Size2,670 SF
Days on Market170
Property Features for 1563 NE 148th Street
General Information
Standard status
Active
Size
2,670 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
does need TLC
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,540
Building Details
Building Size
2,670 SF
Year Built
1952
Listing Agency:
Coldwell Banker Realty
Listed By:
Cynthia Saint Paul · License #3392531
(305) 726-7087
Source:
Silverleafrealtygroup
Added: Apr 21
Changed: Oct 3
Last Checked: Oct 5 at 10:41PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This triplex contains three separate residences with a practical mix of layouts: one 3-bedroom, 2-bathroom unit, one 2-bedroom, 1-bathroom unit, and one 1-bedroom, 1-bathroom unit. The property requires TLC, providing a renovation project for a buyer evaluating a multi-unit residential asset. The third unit was not shown in the available pictures.
Built in 1952, the property is located in incorporated Miami-Dade near major highways, shopping, dining, schools, and parks. Its Miami address places the asset within an established residential setting with access to everyday services and regional transportation routes. Buyers should independently verify unit details, condition, and all other property information during due diligence.
Built in 1952, the property is located in incorporated Miami-Dade near major highways, shopping, dining, schools, and parks. Its Miami address places the asset within an established residential setting with access to everyday services and regional transportation routes. Buyers should independently verify unit details, condition, and all other property information during due diligence.
Key Highlights
- Three separate units with 3‑bedroom, 2‑bathroom; 2‑bedroom, 1‑bathroom; and 1‑bedroom, 1‑bathroom layouts
- Property requires TLC and renovation work
- Built in 1952
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,548
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,070,960
$1.1M
Cap Rate 7%
$764,971
$765.0K
Cap Rate 9%
$594,978
$595.0K
Market Conditions
NOI Build-Up for 2,670 SF
Gross rent
$81.7K $30.60/SF
− Vacancy
−$5.2K −$1.95/SF
EGI
$76.5K $28.65/SF
− OpEx
−$22.9K −$8.60/SF
NOI
$53.5K $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 Rate 5%
$1,070,960
Cap Rate 7%
$764,971
Cap Rate 9%
$594,978
Alternative Uses
Best Use
Multifamily LT 5
$765.0K
$669.4K – $892.5K
NOI $53,548 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$704.6K
$616.6K – $822.1K
NOI $49,324 @ 7.0% cap · market cap 7.47%
Theoretical Best
Specialty Retail
$1.80M
$1.58M – $2.10M
NOI $126,159 @ 7.0% cap · market cap 19.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,681
Businesses Nearby
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
Median Home Value
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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 separately configured residences offer a varied bedroom mix and renovation needs for a multifamily buyer.
Where is this triplex located?
The property is located at 1563 NE 148th Street Miami, FL.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Three separate units with 3‑bedroom, 2‑bathroom; 2‑bedroom, 1‑bathroom; and 1‑bedroom, 1‑bathroom layouts; Property requires TLC and renovation work; Built in 1952
