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742 NW 70th St 3 Unit Apartment Building $990,000 ($330,000/Unit) 7.17% Cap Rate Miami, FL 33150
Investment Highlights
- Fully Renovated Triplex with three (3) 3BD/2BA units
- Turnkey Asset with all major systems replaced: New roof Impact windows New electrical & plumbing New central A/C Stainless steel appliances
- Prime location near I-95 Section 8 rent potential of $3,400 per unit/month
- Two Rear Units Are Brand-New Construction; front unit fully gut renovated
- In-unit washer & dryer Zoned T4-L on a 6,400 SF lot 2,738 SF building Plenty of on-site parking
Executive Summary
Brand New Construction Triplex | Section 8 Upside | Development Potential | West Little River
Located at 742 NW 70th St, this brand-new construction triplex offers a rare opportunity to acquire a turnkey multifamily asset in the rapidly growing West Little River neighborhood of Miami.
The property features three spacious 3-bedroom / 2-full-bath units, each thoughtfully designed with modern finishes and built for long-term durability and low operating expenses. All units are equipped with impact windows and doors, new roof, new central A/C systems, PVC plumbing, and in-unit washer and dryer.
The property is currently vacant and in the process of leasing, allowing a new owner to place tenants at market or Section 8 rents immediately. Section 8 rents for 3-bedroom units in this zip code are currently up to $2,952 per unit, offering strong, stable, government-backed income potential.
Situated on a multifamily-zoned lot, the site allows for up to six units by right, presenting an attractive future development or expansion opportunity.
With low maintenance requirements due to new construction and efficient operating costs, investors can expect a projected 7%+ cap rate at stabilization, making this an ideal acquisition for both cash-flow-focused investors and long-term holders seeking appreciation and upside.
Located at 742 NW 70th St, this brand-new construction triplex offers a rare opportunity to acquire a turnkey multifamily asset in the rapidly growing West Little River neighborhood of Miami.
The property features three spacious 3-bedroom / 2-full-bath units, each thoughtfully designed with modern finishes and built for long-term durability and low operating expenses. All units are equipped with impact windows and doors, new roof, new central A/C systems, PVC plumbing, and in-unit washer and dryer.
The property is currently vacant and in the process of leasing, allowing a new owner to place tenants at market or Section 8 rents immediately. Section 8 rents for 3-bedroom units in this zip code are currently up to $2,952 per unit, offering strong, stable, government-backed income potential.
Situated on a multifamily-zoned lot, the site allows for up to six units by right, presenting an attractive future development or expansion opportunity.
With low maintenance requirements due to new construction and efficient operating costs, investors can expect a projected 7%+ cap rate at stabilization, making this an ideal acquisition for both cash-flow-focused investors and long-term holders seeking appreciation and upside.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$108,100
|
$86.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$108,100
|
$86.62
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$37,000
|
$29.65
|
| Net Operating Income |
$71,100
|
$56.97
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $108,100 |
| Annual Per SF | $86.62 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $108,100 |
| Annual Per SF | $86.62 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $37,000 |
| Annual Per SF | $29.65 |
| Net Operating Income | |
|---|---|
| Annual | $71,100 |
| Annual Per SF | $56.97 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 3 | - | - |
1 1
Walk Score®
Very Walkable (74)
Property Taxes
| Parcel Number | 01-3114-019-0530 | Improvements Assessment | $73,912 (2025) |
| Land Assessment | $224,000 (2025) | Total Assessment | $297,912 (2025) |
Property Taxes
Parcel Number
01-3114-019-0530
Land Assessment
$224,000 (2025)
Improvements Assessment
$73,912 (2025)
Total Assessment
$297,912 (2025)
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742 NW 70th St
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