Three-Unit Residential
831 SW 31ST CT, Miami, FL 33135
For Sale
Contact for pricing
The property combines a three-unit rental configuration with a substantial parcel in Miami.
Property Size2,252 SF
Lot Size0.20 Acres
Price / SF$421.85
Days on Market9
Property Features for 831 SW 31ST CT
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Additional Details
Gross Income
Multifamily Units
Listing Agency:
Vivo Real Estate Group Inc
Listed By:
Alessandro Lima · License FL #3404498
(305) 964-9688
Source:
Crexi
Added: Nov 2
Changed: Nov 10
Last Checked: Nov 10 at 2:20PM
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 Vivo Real Estate Group Inc
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Investment Insights
Based on property information with market context.
This Miami residential property contains three units within approximately 2,252 square feet of building area. The site encompasses 8,820 square feet and is identified by the addresses 831 SW 31st Ct and 833 SW 31st Ct.
Key Highlights
- Three‑unit residential property
- Approximately 2,252 SF of building area
- 8,820 SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,165
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$903,300
$903.3K
Cap Rate 7%
$645,214
$645.2K
Cap Rate 9%
$501,833
$501.8K
Market Conditions
NOI Build-Up for 2,252 SF
Gross rent
$68.9K $30.60/SF
− Vacancy
−$4.4K −$1.95/SF
EGI
$64.5K $28.65/SF
− OpEx
−$19.4K −$8.60/SF
NOI
$45.2K $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 Rate 5%
$903,300
Cap Rate 7%
$645,214
Cap Rate 9%
$501,833
Alternative Uses
Best Use
Multifamily LT 5
$645.2K
$564.6K – $752.8K
NOI $45,165 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$594.3K
$520.0K – $693.4K
NOI $41,602 @ 7.0% cap · market cap 4.38%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,408 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,517
Businesses Nearby
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Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Miami, FL
Properties on Market for Triplexes in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - The property combines a three-unit rental configuration with a substantial parcel in Miami.
Where is this triplex located?
The property is located at 831 SW 31ST CT Miami, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three‑unit residential property; Approximately 2,252 SF of building area; 8,820 SF lot
