Miami Triplex Income
For Sale
$999,000
2275 SW 15th St, Miami, FL 33145
Income-producing triplex in Miami, near Brickell, Coral Gables, Coconut Grove.
Property Size2,511 SF
Price / SF$397.85
Days on Market151
Property Features for 2275 SW 15th St
General Information
Standard status
Active
Size
2,511 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$15,488
Building Details
Building Size
2,511 SF
Year Built
1973
Listing Agency:
Julies Realty, LLC
Listed By:
Kendall Stephens · License #3619179
(561) 758-8265
Source:
Casacollectiongroup
Added: May 17
Changed: Oct 13
Last Checked: Oct 12 at 11:47PM
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 Julies Realty, LLC
Investment Insights
Based on property information with market context.
This income-producing triplex is located in Miami, a 10-minute drive from Brickell, Coral Gables, and Coconut Grove, in a competitive rental market. The property features three independent units: two 2-bedroom, 2-bathroom units, one 2-bedroom, 1-bathroom unit, and one 1-bedroom, 1-bathroom unit. Each unit has private entrances, full kitchens, and separate living spaces. There are 6 parking spots, with 2 spots allocated to each unit. Recent capital improvements include HVAC ductwork, fresh exterior paint, updated appliances, and modern finishes. Two units are currently tenant-occupied with leases in place, while the third is available for immediate lease-up or owner occupancy. The property is considered a turnkey asset with no deferred maintenance, offering immediate cash flow with potential upside at full occupancy. The location has a walk score of 90, indicating it is a walker's paradise, a bike score of 59, indicating it is bikeable, and a transit score of 47, indicating some transit options are available. The property is suitable for residential income purposes.
Key Highlights
- Income‑producing triplex in a highly desirable Miami location.
- Three independent units (2/2 + 2/1 + 1/1) each with private entrances and full kitchens.
- Turnkey asset with recent capital improvements including HVAC ductwork, fresh exterior paint, updated appliances, and modern finishes.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,359
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,007,180
$1.0M
Cap Rate 7%
$719,414
$719.4K
Cap Rate 9%
$559,544
$559.5K
Market Conditions
NOI Build-Up for 2,511 SF
Gross rent
$76.8K $30.60/SF
− Vacancy
−$4.9K −$1.95/SF
EGI
$71.9K $28.65/SF
− OpEx
−$21.6K −$8.60/SF
NOI
$50.4K $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%
$1,007,180
Cap Rate 7%
$719,414
Cap Rate 9%
$559,544
Alternative Uses
Best Use
Multifamily LT 5
$719.4K
$629.5K – $839.3K
NOI $50,359 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$662.7K
$579.8K – $773.1K
NOI $46,387 @ 7.0% cap · market cap 4.64%
Theoretical Best
Specialty Retail
$1.69M
$1.48M – $1.98M
NOI $118,646 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
3,406
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
Median Home Value
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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 - Income-producing triplex in Miami, near Brickell, Coral Gables, Coconut Grove.
Where is this triplex located?
The property is located at 2275 SW 15th St Miami, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Income‑producing triplex in a highly desirable Miami location.; Three independent units (2/2 + 2/1 + 1/1) each with private entrances and full kitchens.; Turnkey asset with recent capital improvements including HVAC ductwork, fresh exterior paint, updated appliances, and modern finishes.
