Fully Leased Triplex with
3045 Southwest 21st Street Miami, FL 33145
For Sale
$1,025,000
Turnkey, fully rented triplex with three leased units across two updated buildings, including recent HVAC and kitchen renovations.
Property Size1,850 SF
Price / SF$554.05
Days on Market96
Property Features for 3045 Southwest 21st Street
General Information
- Standard status
- Active
- Size
- 1,850 SF
- Property subtype
- Multi-Family Income / Triplex
Building Details
- Year Built
- 1938
Listing Agency:
Miami New Realty
(305) 485-3100
Listed By:
Vivian L Ravelo · License #3318730
(305) 485-3100
Source:
Compass
Added: Apr 20
Changed: Jul 23
Last Checked: Jul 23 at 11:26AM
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 Miami New Realty
Investment Insights
Based on property information with market context.
This fully leased triplex presents a turnkey income opportunity with three occupied units across two updated buildings. The offering includes a 2-bed/1-bath unit and two additional 1-bath units. One unit has been fully remodeled with a new HVAC system, a new kitchen with modern cabinets and appliances, updated flooring, fresh paint inside and out, a new water heater, and artificial turf for low-maintenance outdoor space.
The property is situated in a central Miami neighborhood with easy access to major highways and close proximity to Coral Gables and Downtown.
As currently configured, the buildings provide a straightforward three-unit setup with ongoing rental income from all units being fully leased.
The property is situated in a central Miami neighborhood with easy access to major highways and close proximity to Coral Gables and Downtown.
As currently configured, the buildings provide a straightforward three-unit setup with ongoing rental income from all units being fully leased.
Key Highlights
- 1938‑built fully rented triplex with three leased units across two updated buildings
- Unit mix includes a 2 bed/1 bath unit and a studio/1 bath unit combination
- Renovated unit features new HVAC, remodeled kitchen with modern cabinets and appliances, updated flooring, and fresh interior and exterior paint
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 | $56.6k | $30.60 |
| − Vacancy | −$3.6k | −$1.95 |
| EGI | $53.0k | $28.65 |
| − OpEx | −$15.9k | −$8.60 |
| NOI | $37.1k | $20.06 |
1,850 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$530.0K
$463.8K – $618.4K
NOI $37,103 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$488.2K
$427.2K – $569.6K
NOI $34,176 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$1.25M
$1.09M – $1.46M
NOI $87,413 @ 7.0% cap · market cap 8.53%
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 - Turnkey, fully rented triplex with three leased units across two updated buildings, including recent HVAC and kitchen renovations.
Where is this triplex located?
The property is located at 3045 Southwest 21st Street Miami, FL.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: 1938‑built fully rented triplex with three leased units across two updated buildings; Unit mix includes a 2 bed/1 bath unit and a studio/1 bath unit combination; Renovated unit features new HVAC, remodeled kitchen with modern cabinets and appliances, updated flooring, and fresh interior and exterior paint
