Updated Triplex with Fenced
For Sale
$1,100,000
1680 NW 22nd Ct, Miami, FL 33125
Residential Income, Miami, FL
Property Size3,264 SF
Lot Size0.16 Acres
Price / SF$337.01
Days on Market115
Property Features for 1680 NW 22nd Ct
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
5700
Bedrooms
6
Full bathrooms
5
Rooms
Bedroom 5, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 4, Bathroom 4, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 3, Bathroom 5
Parking
6
Subdivision
WASHBURNS 2ND ADDN
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-34-027-0280
Size
3,264 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
WASHBURNS 2ND ADD PB 6-1 LOT 6 & S1FT OF E67 FT OF LOT 5 BLK 2 LOT SIZE IRREGULAR OR 20330-2594 03 2002 1 COC 22278-1243 04 2004 1
Tax Annual Amount
14000
Legal Description
WASHBURNS 2ND ADD PB 6-1 LOT 6 & S1FT OF E67 FT OF LOT 5 BLK 2 LOT SIZE IRREGULAR OR 20330-2594 03 2002 1 COC 22278-1243 04 2004 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Ceiling Fan(s), Electric
Water source
Public
Building Details
Year built
1924
Floors in Building
2
Building materials
Block
Roof type
Tile, Flat
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Damian Gonzalez · License #3195877
(786) 208-1044
Added: May 6
Changed: Aug 26
Last Checked: Aug 28 at 6:06PM
MLS# A12000744
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 Miami multifamily property offers 3,264 square feet of living space within a fully enclosed 7,000-square-foot parcel. The current configuration contains three units: two one-bedroom, one-bath residences and one four-bedroom, three-bath residence. Recent improvements include a replacement roof, impact-rated windows and doors, refreshed kitchens and bathrooms, and new plumbing. Block construction, central air, public water, and public sewer are also in place.
The property is in Miami’s Allapattah area, with access to major roadways, employment centers, and public transportation. Parking accommodates 6+ vehicles. Utility service includes two electric meters and one water meter. The roof includes flat and tile sections, and the property was built in 1924.
The property is in Miami’s Allapattah area, with access to major roadways, employment centers, and public transportation. Parking accommodates 6+ vehicles. Utility service includes two electric meters and one water meter. The roof includes flat and tile sections, and the property was built in 1924.
Key Highlights
- 3,264 SF of living space on a 7,000 sq. ft. fully fenced lot
- Three‑unit mix: two 1‑bedroom/1‑bath units and one 4‑bedroom/3‑bath unit
- Parking for 6+ vehicles
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
$65,461
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
5.95%
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%
$1,309,220
$1.3M
Cap Rate 7%
$935,157
$935.2K
Cap Rate 9%
$727,344
$727.3K
Market Conditions
NOI Build-Up for 3,264 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
$99.9K $30.60/SF
− Vacancy
−$6.4K −$1.95/SF
EGI
$93.5K $28.65/SF
− OpEx
−$28.1K −$8.60/SF
NOI
$65.5K $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 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%
$1,309,220
Cap Rate 7%
$935,157
Cap Rate 9%
$727,344
Alternative Uses
Best Use
Multifamily LT 5
$935.2K
$818.3K – $1.09M
NOI $65,461 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$861.4K
$753.7K – $1.00M
NOI $60,297 @ 7.0% cap · market cap 5.48%
Theoretical Best
Specialty Retail
$2.20M
$1.93M – $2.57M
NOI $154,225 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,171
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit configuration includes renovated interiors, off-street parking, and separate electric metering.
Where is this triplex located?
The property is located at 1680 NW 22nd Ct Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,264 SF of living space on a 7,000 sq. ft. fully fenced lot; Three‑unit mix: two 1‑bedroom/1‑bath units and one 4‑bedroom/3‑bath unit; Parking for 6+ vehicles
