Renovated Three-Unit Multifamily
New
For Sale
$1,180,000
2160 NW 18th Ter, Miami, FL 33125
Updated residential income property with in-unit laundry, modern appliances, and impact-rated windows and doors.
Property Size2,552 SF
Price / SF$462.38
Days on Market5
Property Features for 2160 NW 18th Ter
General Information
Standard status
Active
Size
2,552 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,464
Amenities
in-unit washer/dryer
Building Details
Building Size
2,552 SF
Year Built
1956
Tenancy
Multi
Listing Agency:
Luxe Properties
(214) 909-3817
Listed By:
Nicole Trenk · License #3525425
Source:
Batrare
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 15 at 12:38PM
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 Luxe Properties
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains 2,552 square feet and was built in 1956. The improvements have been renovated throughout and include new appliances, impact windows and doors, and a separate washer and dryer for each unit. Public tax records identify three living units, and all units are currently leased under one-year terms.
The property is positioned near Downtown and Miami International Airport. The rear unit has an unresolved City of Miami compliance matter involving the fence, electrical, and plumbing. The purchaser will assume responsibility for addressing the violation and completing any required work. Showings require advance coordination to accommodate the existing tenants.
The property is positioned near Downtown and Miami International Airport. The rear unit has an unresolved City of Miami compliance matter involving the fence, electrical, and plumbing. The purchaser will assume responsibility for addressing the violation and completing any required work. Showings require advance coordination to accommodate the existing tenants.
Key Highlights
- Three living units documented in Dade County tax roll records
- 2,552 SF multifamily property built in 1956
- Renovated throughout with new appliances
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
$51,182
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
4.34%
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%
$1,023,640
$1.0M
Cap Rate 7%
$731,171
$731.2K
Cap Rate 9%
$568,689
$568.7K
Market Conditions
NOI Build-Up for 2,552 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
$78.1K $30.60/SF
− Vacancy
−$5.0K −$1.95/SF
EGI
$73.1K $28.65/SF
− OpEx
−$21.9K −$8.60/SF
NOI
$51.2K $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%
$1,023,640
Cap Rate 7%
$731,171
Cap Rate 9%
$568,689
Alternative Uses
Best Use
Multifamily LT 5
$731.2K
$639.8K – $853.0K
NOI $51,182 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$673.5K
$589.3K – $785.7K
NOI $47,144 @ 7.0% cap · market cap 4.00%
Theoretical Best
Specialty Retail
$1.72M
$1.51M – $2.01M
NOI $120,583 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,124
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
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Frequently Asked Questions
What type of property is this?
Triplex - Updated residential income property with in-unit laundry, modern appliances, and impact-rated windows and doors.
Where is this triplex located?
The property is located at 2160 NW 18th Ter Miami, FL.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Three living units documented in Dade County tax roll records; 2,552 SF multifamily property built in 1956; Renovated throughout with new appliances
