14-Unit Apartment
For Sale
$4,340,000
6305 W 22nd Ct, Hialeah, FL 33016
Residential Income, Hialeah, FL
Property Size12,894 SF
Price / SF$336.59
Days on Market45
Property Features for 6305 W 22nd Ct
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
4600
Bedrooms
10
Full bathrooms
6
Half bathrooms
2
Rooms
Bedroom 7, Bedroom 10, Bedroom 6, Bedroom 8, Bathroom 6, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 9, Bathroom 3, Bathroom 5, Bathroom 1, Bathroom 4, Bathroom 7, Bedroom 4, Bedroom 1, Bathroom 8, Bedroom 2
Parking
24
Exterior features
Balcony
Subdivision
2ND ADDN TO BARACOA
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
04-20-34-083-1220
Size
12,894 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
2ND ADDN TO BARACOA PB 126-96 LOT 4 BLK 6 LOT SIZE 20109 SQ FT OR 17591-2623 0297 4
Tax Annual Amount
54075
Legal Description
2ND ADDN TO BARACOA PB 126-96 LOT 4 BLK 6 LOT SIZE 20109 SQ FT OR 17591-2623 0297 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1989
Floors in Building
2
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Sea Grove Realty
(305) 726-5818
Listed By:
Derek Varona · License #3245277
(305) 402-4261
Added: Jul 28
Changed: Sep 3
Last Checked: Sep 10 at 11:06PM
MLS# A12061086
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.
This 12,894-square-foot apartment property contains 14 residences in a mix of ten two-bedroom, one-and-a-half-bath units and four three-bedroom, two-bath units. Built in 1989, the block construction includes balconies, tile flooring, central heating, ceiling fans, and central air. Electricity is separately metered for each residence, while water is served through a common meter. Public water and public sewer are in place, with cable available.
The property is located near Bucky Dent Park, Westland Mall, Medley, and established commercial and light-industrial corridors. Regional access includes the Palmetto Expressway (SR 826), I-75, Okeechobee Road (US 27), and the Florida Turnpike. The surrounding Hialeah and Miami Lakes area includes residential and retail development, along with employment centers across Miami-Dade County.
The property is located near Bucky Dent Park, Westland Mall, Medley, and established commercial and light-industrial corridors. Regional access includes the Palmetto Expressway (SR 826), I-75, Okeechobee Road (US 27), and the Florida Turnpike. The surrounding Hialeah and Miami Lakes area includes residential and retail development, along with employment centers across Miami-Dade County.
Key Highlights
- 14‑unit apartment property totaling 12,894 square feet
- Unit mix includes ten 2‑bedroom, 1.5‑bath residences and four 3‑bedroom, 2‑bath residences
- Electricity is separately metered for every unit; water uses a common meter
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
$172,664
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
3.98%
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%
$3,453,280
$3.5M
Cap Rate 7%
$2,466,629
$2.5M
Cap Rate 9%
$1,918,489
$1.9M
Market Conditions
NOI Build-Up for 12,894 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
$335.8K $26.04/SF
− Vacancy
−$21.8K −$1.69/SF
EGI
$313.9K $24.35/SF
− OpEx
−$141.3K −$10.96/SF
NOI
$172.7K $13.39/SF
Area
Hialeah, FL
Vacancy
6.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$3,453,280
Cap Rate 7%
$2,466,629
Cap Rate 9%
$1,918,489
Alternative Uses
Best Use
Apartment 5plus
$2.47M
$2.16M – $2.88M
NOI $172,664 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.08M
$4.44M – $5.92M
NOI $355,255 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,307
Businesses Nearby
Explore this area
Business Placement
Demographics for 33016, FL
45,714
Population
16,158
Households
2.8
Avg Household Size
43
Median Age
28%
College-Educated
83%
High-School Grad
4.2 sq mi
ZIP Area
10,884
Density / Sq Mi
$56,633
Median Household Income
$33,069
Median Earnings
$1,753
Median Rent
$295,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with varied bedroom layouts, central air, tile flooring, and separately metered electricity.
Where is this apartment building located?
The property is located at 6305 W 22nd Ct Hialeah, FL.
What is the asking price?
The asking price for this property is $4,340,000.
What are key features of this property?
This property features: 14‑unit apartment property totaling 12,894 square feet; Unit mix includes ten 2‑bedroom, 1.5‑bath residences and four 3‑bedroom, 2‑bath residences; Electricity is separately metered for every unit; water uses a common meter
