Six-Unit Apartment
For Sale
$1,190,000
Pending
5451 W 1 avenue, Hialeah, FL 33012
Six units across three duplex buildings with month-to-month tenants and a need for minor updates.
Property Size4,953 SF
Lot Size0.29 Acres
Days on Market2417
Property Features for 5451 W 1 avenue
General Information
Standard status
Pending
Size
4,953 SF
Lot size
0.29 Acres
Property subtype
General Commercial
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Additional Details
Average Monthly Rent
$800
Amenities
3
Building Details
Buildings
3
Listing Agency:
(305) 342-2823
Listed By:
Douglas Elliman
(305) 342-2823
Source:
Xome
Added: Dec 26, 2019
Changed: Jul 30
Last Checked: Jul 30 at 4:24AM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
This six-unit apartment property is arranged as three duplex buildings on a 12,800 SF lot. Each duplex includes two apartments, and every unit offers 2 bedrooms and 1 bathroom. The property is currently occupied by month-to-month tenants.
The buildings are positioned for everyday convenience, located close to Red Road and 103 St. The property needs minor updates. Interior features include 3 guest facilities, and there is no pool on site.
With its compact, repeatable duplex layout and unit-level configuration, the property offers a straightforward structure for an owner looking to manage a small multi-family portfolio.
The buildings are positioned for everyday convenience, located close to Red Road and 103 St. The property needs minor updates. Interior features include 3 guest facilities, and there is no pool on site.
With its compact, repeatable duplex layout and unit-level configuration, the property offers a straightforward structure for an owner looking to manage a small multi-family portfolio.
Key Highlights
- Six units in three duplex buildings on a 12,800 SF lot
- Two‑bedroom, one‑bath apartments throughout the property
- Month‑to‑month tenants
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
$66,326
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
5.57%
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%
$1,326,520
$1.3M
Cap Rate 7%
$947,514
$947.5K
Cap Rate 9%
$736,956
$737.0K
Market Conditions
NOI Build-Up for 4,953 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
$129.0K $26.04/SF
− Vacancy
−$8.4K −$1.69/SF
EGI
$120.6K $24.35/SF
− OpEx
−$54.3K −$10.96/SF
NOI
$66.3K $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%
$1,326,520
Cap Rate 7%
$947,514
Cap Rate 9%
$736,956
Alternative Uses
Best Use
Apartment 5plus
$947.5K
$829.1K – $1.11M
NOI $66,326 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.71M – $2.27M
NOI $136,465 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,170
Businesses Nearby
Explore this area
Business Placement
Demographics for 33012, FL
70,260
Population
25,923
Households
2.7
Avg Household Size
48
Median Age
18%
College-Educated
72%
High-School Grad
5.9 sq mi
ZIP Area
11,908
Density / Sq Mi
$45,818
Median Household Income
$32,039
Median Earnings
$1,562
Median Rent
$355,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six units across three duplex buildings with month-to-month tenants and a need for minor updates.
Where is this apartment building located?
The property is located at 5451 W 1 avenue Hialeah, FL.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Six units in three duplex buildings on a 12,800 SF lot; Two‑bedroom, one‑bath apartments throughout the property; Month‑to‑month tenants
