Triplex with Remodeled
New
For Sale
$625,000
4145 SW 19th St, West Park, FL 33023
Residential Income, West Park, FL
Property Size1,764 SF
Lot Size0.15 Acres
Price / SF$354.31
Days on Market1
Property Features for 4145 SW 19th St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
TOC 1
Bedrooms
5
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3
Parking
5
Window features
Blinds
Patio and Porch features
Patio
Exterior features
Fence, Patio
Fencing
Fenced
Subdivision
CARVER RANCHES BUSINESS S
Lot features
< 1/4 Acre
Directions
From I-95, exit onto Pembroke Road heading west. Turn right on SW 40th Ave, then left onto SW 19th Street. Property will be on the right.
Standard status
Active
APN
514219050770
Size
1,764 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CARVER RANCHES BUSINESS SEC 23-31 B LOTS 43 & 44 BLK B
Tax Annual Amount
12910
Legal Description
CARVER RANCHES BUSINESS SEC 23-31 B LOTS 43 & 44 BLK B
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Central Air, Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Flooring type
Vinyl, Tile - Ceramic, Laminate
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
Luxury Real Estate Group LLC
(561) 929-7304
Listed By:
Maria Valderrama · License #3351160
(786) 553-2875
Added: Sep 2
Last Checked: Sep 2 at 10:06PM
MLS# A12068890
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 1984 triplex contains three residential units within 1,764 square feet of adjusted space on a 6,737-square-foot lot. Two units have undergone substantial remodeling, while the property includes patios, fencing, block-and-stucco construction, shingle roofing, and a mix of vinyl, ceramic tile, and laminate flooring. Cooling is provided by central air and window or wall units.
The property is located in West Park’s Carver Ranches Business Sec area, identified in the source information as a multifamily rental area. Access to I-95, shopping, and major corridors supports connectivity throughout the surrounding market. Public water and public sewer serve the property, with cable available.
The property is located in West Park’s Carver Ranches Business Sec area, identified in the source information as a multifamily rental area. Access to I-95, shopping, and major corridors supports connectivity throughout the surrounding market. Public water and public sewer serve the property, with cable available.
Key Highlights
- Three‑unit triplex with 1,764 adjusted SF
- 6,737 SF lot with fenced grounds and patio features
- Two of three units substantially remodeled
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
$29,406
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
4.70%
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%
$588,120
$588.1K
Cap Rate 7%
$420,086
$420.1K
Cap Rate 9%
$326,733
$326.7K
Market Conditions
NOI Build-Up for 1,764 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
$44.5K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$42.0K $23.81/SF
− OpEx
−$12.6K −$7.14/SF
NOI
$29.4K $16.67/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$588,120
Cap Rate 7%
$420,086
Cap Rate 9%
$326,733
Alternative Uses
Best Use
Multifamily LT 5
$420.1K
$367.6K – $490.1K
NOI $29,406 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$387.6K
$339.1K – $452.2K
NOI $27,129 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$895.0K
$783.1K – $1.04M
NOI $62,647 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,037
Businesses Nearby
Explore this area
Business Placement
Demographics for 33023, FL
66,749
Population
22,450
Households
3
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
7,585
Density / Sq Mi
$70,003
Median Household Income
$35,093
Median Earnings
$1,621
Median Rent
$344,500
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 - Three-unit property with two remodeled units, patios, fencing, and public water and sewer.
Where is this triplex located?
The property is located at 4145 SW 19th St West Park, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Three‑unit triplex with 1,764 adjusted SF; 6,737 SF lot with fenced grounds and patio features; Two of three units substantially remodeled
