Updated 3-Unit
New
For Sale
$1,079,000
7401 SW 22nd Street, Miami, FL 33155
Each residence includes a washer and dryer, plus its own private outdoor area.
Property Size2,697 SF
Lot Size0.17 Acres
Price / SF$400.07
Days on Market6
Property Features for 7401 SW 22nd Street
General Information
Standard status
Active
Size
2,697 SF
Lot size
0.17 Acres
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Units
Unit Mix
3/2, 2/1, 1/1
Multifamily Units
3
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Amenities
washer/dryer
private outdoor space
Building Details
Year Built
1973
Year Renovated
2022
Listing Agency:
One Sotheby's International Realty
Listed By:
Maria Isabel Salum · License #3338536
(305) 746-3079
Source:
Onesothebysrealty
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 28 at 8:24AM
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 One Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This Miami triplex contains 2,697 SF of living area across three residences: a 3/2, a 2/1, and a 1/1. Each unit was updated in 2022 and has its own washer and dryer, along with private outdoor space. The largest residence has a covered terrace and backyard; the other two have a side yard and a fenced, covered yard. The property was built in 1973 and occupies a 7,500 SF lot.
Building improvements include a roof and A/C systems installed in 2022, impact windows and doors, PVC plumbing, and electrical panel updates completed in 2021–2022. Tankless water heaters date to 2022 and 2025. The site has two water meters, two electric meters, and abundant parking. Tenants pay all utilities. The property is near the Palmetto Expressway, Nicklaus Children’s Hospital, Coral Gables, and shopping and dining.
Building improvements include a roof and A/C systems installed in 2022, impact windows and doors, PVC plumbing, and electrical panel updates completed in 2021–2022. Tankless water heaters date to 2022 and 2025. The site has two water meters, two electric meters, and abundant parking. Tenants pay all utilities. The property is near the Palmetto Expressway, Nicklaus Children’s Hospital, Coral Gables, and shopping and dining.
Key Highlights
- Three‑unit mix: 3/2, 2/1, and 1/1
- 2,697 SF of living area on a 7,500 SF lot
- All three units updated in 2022; each has a washer and dryer and private outdoor space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,090
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,800
$1.1M
Cap Rate 7%
$772,714
$772.7K
Cap Rate 9%
$601,000
$601.0K
Market Conditions
NOI Build-Up for 2,697 SF
Gross rent
$82.5K $30.60/SF
− Vacancy
−$5.3K −$1.95/SF
EGI
$77.3K $28.65/SF
− OpEx
−$23.2K −$8.60/SF
NOI
$54.1K $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%
$1,081,800
Cap Rate 7%
$772,714
Cap Rate 9%
$601,000
Alternative Uses
Best Use
Multifamily LT 5
$772.7K
$676.1K – $901.5K
NOI $54,090 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$711.8K
$622.8K – $830.4K
NOI $49,823 @ 7.0% cap · market cap 4.62%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.12M
NOI $127,434 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,336
Businesses Nearby
Explore this area
Business Placement
Demographics for 33155, FL
43,695
Population
16,046
Households
2.7
Avg Household Size
45
Median Age
37%
College-Educated
85%
High-School Grad
7.4 sq mi
ZIP Area
5,905
Density / Sq Mi
$79,271
Median Household Income
$41,919
Median Earnings
$1,871
Median Rent
$505,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence includes a washer and dryer, plus its own private outdoor area.
Where is this triplex located?
The property is located at 7401 SW 22nd Street Miami, FL.
What is the asking price?
The asking price for this property is $1,079,000.
What are key features of this property?
This property features: Three‑unit mix: 3/2, 2/1, and 1/1; 2,697 SF of living area on a 7,500 SF lot; All three units updated in 2022; each has a washer and dryer and private outdoor space
