Two-Bedroom Apartment
For Sale
Contact for pricing
1460 W 29th St, Hialeah, FL 33012
Fully occupied multifamily asset with month-to-month leases and R-3 zoning.
Property Size6,644 SF
Price / SF$331.13
Days on Market149
Property Features for 1460 W 29th St
General Information
Standard status
Active
Size
6,644 SF
Class
C
Total Parking Spaces
14
Property subtype
Multifamily
Zoning
R-3
Occupancy
100%
Investment Type
Value Add
Additional Details
Average Monthly Rent
$1,300
Building Details
Year Built
1967
Buildings
1
Stories
2
Units
8
Listing Agency:
Union Street Partners, LLC
Listed By:
Greg Celentano · License #FL 0667454
Source:
Crexi
Added: Apr 6
Changed: Aug 30
Last Checked: Aug 30 at 7:18AM
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 Union Street Partners, LLC
Investment Insights
Based on property information with market context.
Built in 1967, this 6,644-square-foot apartment property at 1460 W 29th St in Hialeah features an all two-bedroom unit mix. The asset is fully occupied, with every lease structured on a month-to-month basis, providing a consistent operating profile and flexible lease terms.
The property carries R-3 zoning and is positioned near major thoroughfares and employment centers serving the greater Miami metropolitan area. Its residential configuration and location within Hialeah support continued multifamily use.
The property carries R-3 zoning and is positioned near major thoroughfares and employment centers serving the greater Miami metropolitan area. Its residential configuration and location within Hialeah support continued multifamily use.
Key Highlights
- 6,644‑square‑foot apartment property at 1460 W 29th St, Hialeah, FL 33012
- 100% two‑bedroom units
- Fully occupied property
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
$88,970
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
4.04%
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%
$1,779,400
$1.8M
Cap Rate 7%
$1,271,000
$1.3M
Cap Rate 9%
$988,556
$988.6K
Market Conditions
NOI Build-Up for 6,644 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
$173.0K $26.04/SF
− Vacancy
−$11.2K −$1.69/SF
EGI
$161.8K $24.35/SF
− OpEx
−$72.8K −$10.96/SF
NOI
$89.0K $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%
$1,779,400
Cap Rate 7%
$1,271,000
Cap Rate 9%
$988,556
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $88,970 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.62M
$2.29M – $3.05M
NOI $183,055 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,341
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily asset with month-to-month leases and R-3 zoning.
Where is this apartment building located?
The property is located at 1460 W 29th St Hialeah, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 6,644‑square‑foot apartment property at 1460 W 29th St, Hialeah, FL 33012; 100% two‑bedroom units; Fully occupied property
