Triplex with Updated
New
For Sale
$890,000
Miami, FL 33125, Miami, FL 33125
Residential Income, Miami, FL
Property Size2,220 SF
Price / SF$400.90
Days on Market2
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
5700
Bedrooms
7
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bedroom 7, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 5
Parking
5
Subdivision
DEL RIO PARK
Lot features
< 1/4 Acre
Directions
GPS
Standard status
Active
APN
01-31-34-005-0210
Size
2,220 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
DEL RIO PARK PB 47-107 LOT 13 BLK 2 LOT SIZE 61.000 X 124 OR 9836-287
Tax Annual Amount
10738
Legal Description
DEL RIO PARK PB 47-107 LOT 13 BLK 2 LOT SIZE 61.000 X 124 OR 9836-287
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Building Details
Year built
1948
Floors in Building
2
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
Keller Williams Realty Premier Properties
(305) 595-2844
Listed By:
Vashi Khemlani PA · License #3433180
(305) 833-0870
Added: Sep 30
Last Checked: Oct 1 at 2:06PM
MLS# A12064195
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.
Built in 1948, this 2,220-square-foot triplex contains two 3-bedroom, 1-bath apartments and one 1-bedroom, 1-bath apartment. Improvements include PVC plumbing, a refreshed upstairs bathroom, a replacement stove, fresh paint, central air conditioning, and septic tank work. Block construction and ceramic tile flooring are among the property’s existing features.
Each apartment has its own electric meter, while water service is shared. The property is near Miami River, River Landing, Brickell, Downtown Miami, Miami International Airport, and the David Beckham stadium referenced in the property information. Shopping, dining, major highways, and employment centers are also identified nearby.
Each apartment has its own electric meter, while water service is shared. The property is near Miami River, River Landing, Brickell, Downtown Miami, Miami International Airport, and the David Beckham stadium referenced in the property information. Shopping, dining, major highways, and employment centers are also identified nearby.
Key Highlights
- Three‑unit mix: two 3‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment
- 2,220 square feet; built in 1948
- PVC plumbing, updated upstairs bathroom, new stove, and fresh paint
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
$44,523
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
5.00%
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%
$890,460
$890.5K
Cap Rate 7%
$636,043
$636.0K
Cap Rate 9%
$494,700
$494.7K
Market Conditions
NOI Build-Up for 2,220 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
$67.9K $30.60/SF
− Vacancy
−$4.3K −$1.95/SF
EGI
$63.6K $28.65/SF
− OpEx
−$19.1K −$8.60/SF
NOI
$44.5K $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 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%
$890,460
Cap Rate 7%
$636,043
Cap Rate 9%
$494,700
Alternative Uses
Best Use
Multifamily LT 5
$636.0K
$556.5K – $742.1K
NOI $44,523 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$585.9K
$512.6K – $683.5K
NOI $41,011 @ 7.0% cap · market cap 4.61%
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $104,896 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,932
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 apartments combine two three-bedroom layouts with a separate one-bedroom unit.
Where is this triplex located?
The property is located at Miami, FL.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Three‑unit mix: two 3‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment; 2,220 square feet; built in 1948; PVC plumbing, updated upstairs bathroom, new stove, and fresh paint
