Triplex with Separate Utility
For Sale
$399,000
Pending
1620 NW 64th St, Miami, FL 33147
Three-unit residential income property requiring comprehensive rehabilitation and electrical replacement.
Property Size1,349 SF
Days on Market197
Property Features for 1620 NW 64th St
General Information
Standard status
Pending
Size
1,349 SF
Total Parking Spaces
3
Property subtype
Investment
Property Condition
Severity
Major Repairs Needed
Evidence
total rehab
Units
Multifamily Units
3
Parking per Unit
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,409
Building Details
Building Size
1,349 SF
Year Built
1955
Stories
1
Listing Agency:
Alyons Int'l Realty Inc
Listed By:
Marina Almanzar · License #3261667
(786) 445-6304
Source:
Elliman
Added: Apr 2
Changed: Oct 9
Last Checked: Oct 12 at 8:44PM
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 Alyons Int'l Realty Inc
Investment Insights
Based on property information with market context.
This 1955 triplex contains three separate units within approximately 1,349 square feet. Each unit has its own electric meter, water meter, and designated parking space. Existing climate control consists of window or wall-mounted air-conditioning units.
The property requires a complete rehabilitation, including installation of a new electrical system following the theft of copper wiring. Its setting at 1620 Northwest 64th Street in Miami places the building near shopping centers, schools, and public transportation.
The property requires a complete rehabilitation, including installation of a new electrical system following the theft of copper wiring. Its setting at 1620 Northwest 64th Street in Miami places the building near shopping centers, schools, and public transportation.
Key Highlights
- Three separate residential units
- Each unit has its own electric and water meter
- Dedicated parking space for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,055
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,100
$541.1K
Cap Rate 7%
$386,500
$386.5K
Cap Rate 9%
$300,611
$300.6K
Market Conditions
NOI Build-Up for 1,349 SF
Gross rent
$41.3K $30.60/SF
− Vacancy
−$2.6K −$1.95/SF
EGI
$38.6K $28.65/SF
− OpEx
−$11.6K −$8.60/SF
NOI
$27.1K $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%
$541,100
Cap Rate 7%
$386,500
Cap Rate 9%
$300,611
Alternative Uses
Best Use
Multifamily LT 5
$386.5K
$338.2K – $450.9K
NOI $27,055 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$356.0K
$311.5K – $415.4K
NOI $24,921 @ 7.0% cap · market cap 6.25%
Theoretical Best
Specialty Retail
$910.6K
$796.8K – $1.06M
NOI $63,741 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
943
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
Median Home Value
Check the figures for this property
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-unit residential income property requiring comprehensive rehabilitation and electrical replacement.
Where is this triplex located?
The property is located at 1620 NW 64th St Miami, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Three separate residential units; Each unit has its own electric and water meter; Dedicated parking space for each unit
