Turnkey Renovated Triplex
1975 NW 24th Ct Miami, FL 33125
For Sale
Contact for pricing
Fully renovated legal triplex with three leased units, each with private entrance and separate utility meters.
Property Size3,188 SF
Price / SF$439.15
Days on Market127
Property Features for 1975 NW 24th Ct
General Information
- Standard status
- Active
- Size
- 3,188 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1948
Listing Agency:
Barnes International Realty, LLC
(954) 278-0515
Listed By:
Yann Rousseau · License #3281546
Source:
Crexi
Added: Mar 20
Changed: Jul 23
Last Checked: Jul 23 at 8:11AM
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 Barnes International Realty, LLC
Investment Insights
Based on property information with market context.
This fully renovated, legal triplex offers a turnkey setup with three units presented as part of two separate structures. Upgrades include modern flooring, updated kitchens and bathrooms, stainless steel appliances, impact windows and doors, and washer-dryers and central A/C systems in all units. Each unit also has its own private entrance and separate utility meters to support efficient management.
The property is described as being in the heart of Allapattah, close to the Miami River, and within minutes of Wynwood, Downtown, and Brickell. The owner provides lawn maintenance only. The units are currently leased to long-term tenants with active leases and security deposits in place.
The property is described as being in the heart of Allapattah, close to the Miami River, and within minutes of Wynwood, Downtown, and Brickell. The owner provides lawn maintenance only. The units are currently leased to long-term tenants with active leases and security deposits in place.
Key Highlights
- Fully renovated legal triplex built in 1948 with three leased units
- Two separate structures; each unit has its own private entrance
- Separate utility meters for each unit to streamline management
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 | $97.6k | $30.60 |
| − Vacancy | −$6.2k | −$1.95 |
| EGI | $91.3k | $28.65 |
| − OpEx | −$27.4k | −$8.60 |
| NOI | $63.9k | $20.06 |
3,188 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$913.4K
$799.2K – $1.07M
NOI $63,937 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$841.3K
$736.2K – $981.6K
NOI $58,893 @ 7.0% cap · market cap 4.21%
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.51M
NOI $150,634 @ 7.0% cap · market cap 10.76%
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 renovated legal triplex with three leased units, each with private entrance and separate utility meters.
Where is this triplex located?
The property is located at 1975 NW 24th Ct Miami, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Fully renovated legal triplex built in 1948 with three leased units; Two separate structures; each unit has its own private entrance; Separate utility meters for each unit to streamline management
