1220-1222 NE 110th Ter, Miami FL 33161

Description

Rare opportunity to own a fully legal 3-unit triplex in a highly desirable Miami location near Biscayne Blvd, offered at $749,000 — approximately $250K per unit. This income-producing property features two 2/1 units and one fully renovated efficiency. One 2/1 is currently vacant and was previously renting for $1,850/month until September 2025 and is now leased at $1,850. The second 2/1 is rented month-to-month at $1,750/month, and the renovated efficiency is leased at $1,395/month through August 31, 2026 with option to renew. The property is cash flowing from day one with strong in-place income and additional upside potential. If the two 2/1 units are renovated, there is a clear opportunity to further increase rents and maximize returns, making this an attractive value-add investment. Expenses are estimated at approximately $8,000 per year. All units are separately metered with tenants paying their own electricity. Water is included up to $75 per month, with any overage split among tenants. Prime central location surrounded by shopping centers, restaurants, businesses, and just minutes to Downtown Miami, beaches, and major highways, offering strong rental demand and long-term appreciation potential.