Turnkey Income
For Sale
$1,300,000
9415 SW 38th Street, Miami, FL 33165
Renovated triplex with three rental units and coin-operated laundry, supported by ample on-site parking.
Property Size2,612 SF
Lot Size0.24 Acres
Price / SF$497.70
Days on Market111
Property Features for 9415 SW 38th Street
General Information
Standard status
Active
Size
2,612 SF
Lot size
0.24 Acres
Property subtype
Triplex
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1955
Tenancy
Multi
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Thomas J McDaniel · License #3251605
(305) 305-5722
Source:
Lehmannflorida
Added: Jul 10
Changed: Oct 27
Last Checked: Oct 28 at 8:17AM
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 Real Estate Sales Force
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Investment Insights
Based on property information with market context.
This turnkey income triplex has been completely renovated and freshly painted, offering three separate residential units. The property includes a 3-bedroom/1-bath unit, a 2-bedroom/2-bath unit, and a 1-bedroom/1-bath unit. A coin-operated washing machine is also on site, providing an additional income stream.
The property is located in Westchester and accessed via SW 38th St, with convenient access to major expressways plus nearby shopping, dining, and everyday amenities. It sits on an oversized 10,500 SF lot with ample on-site parking.
Showings are by appointment only, and tenant privacy must be respected—please do not disturb occupants. Contact the listing agent for scheduling.
The property is located in Westchester and accessed via SW 38th St, with convenient access to major expressways plus nearby shopping, dining, and everyday amenities. It sits on an oversized 10,500 SF lot with ample on-site parking.
Showings are by appointment only, and tenant privacy must be respected—please do not disturb occupants. Contact the listing agent for scheduling.
Key Highlights
- Completely renovated triplex on a 10,500 SF lot with ample on‑site parking
- Three rental units: 3BD/1BA, 2BD/2BA, and 1BD/1BA residences
- Includes coin‑operated washing machine for additional tenant convenience and income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,385
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,047,700
$1.0M
Cap Rate 7%
$748,357
$748.4K
Cap Rate 9%
$582,056
$582.1K
Market Conditions
NOI Build-Up for 2,612 SF
Gross rent
$79.9K $30.60/SF
− Vacancy
−$5.1K −$1.95/SF
EGI
$74.8K $28.65/SF
− OpEx
−$22.5K −$8.60/SF
NOI
$52.4K $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%
$1,047,700
Cap Rate 7%
$748,357
Cap Rate 9%
$582,056
Alternative Uses
Best Use
Multifamily LT 5
$748.4K
$654.8K – $873.1K
NOI $52,385 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$689.3K
$603.2K – $804.2K
NOI $48,253 @ 7.0% cap · market cap 3.71%
Theoretical Best
Specialty Retail
$1.76M
$1.54M – $2.06M
NOI $123,418 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
Explore this area
Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
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
Frequently Asked Questions
What type of property is this?
Triplex - Renovated triplex with three rental units and coin-operated laundry, supported by ample on-site parking.
Where is this triplex located?
The property is located at 9415 SW 38th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Completely renovated triplex on a 10,500 SF lot with ample on‑site parking; Three rental units: 3BD/1BA, 2BD/2BA, and 1BD/1BA residences; Includes coin‑operated washing machine for additional tenant convenience and income
