Six-Unit Apartment
For Sale
$1,375,000
Pending
20 W 37th St, Hialeah, FL 33012
Central A/C serves the two-bedroom residences, while efficiencies have individual wall A/C units.
Property Size4,652 SF
Days on Market128
Property Features for 20 W 37th St
General Information
Standard status
Pending
Size
4,652 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2BR/1BA, 2 x efficiency
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$15,064
Amenities
central A/C
wall A/C
Building Details
Building Size
4,652 SF
Year Built
1971
Stories
2
Listing Agency:
AV Capital Advisors, LLC.
(786) 326-8655
Listed By:
Vanessa Gala · License #3257319
(786) 326-8655
Source:
Elliman
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 29 at 1:10PM
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 AV Capital Advisors, LLC.
Investment Insights
Based on property information with market context.
This apartment property contains four corner two-bedroom, one-bath residences along with two efficiency units. The four primary units feature central A/C, and each efficiency has a wall A/C unit. Unit 1 received a full remodel in 2025, including new A/C equipment, ductwork, kitchen, and appliances. The building was constructed in 1971.
The property is at 20 W 37th St in Hialeah, with access to Okeechobee Road, major highways, shopping, and a Metrorail station. Three of the four two-bedroom units have long-term tenants of 10+ years and documented consistent, on-time payment histories. Walk Score is 69, Bike Score is 48, and Transit Score is 29.
The property is at 20 W 37th St in Hialeah, with access to Okeechobee Road, major highways, shopping, and a Metrorail station. Three of the four two-bedroom units have long-term tenants of 10+ years and documented consistent, on-time payment histories. Walk Score is 69, Bike Score is 48, and Transit Score is 29.
Key Highlights
- Four 2‑bedroom / 1‑bath units plus two efficiencies
- Unit 1 fully remodeled in 2025 with new A/C, ductwork, kitchen, and appliances
- Three 2‑bedroom units have tenants with 10+ years of occupancy
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
$62,295
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
4.53%
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%
$1,245,900
$1.2M
Cap Rate 7%
$889,929
$889.9K
Cap Rate 9%
$692,167
$692.2K
Market Conditions
NOI Build-Up for 4,652 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
$121.1K $26.04/SF
− Vacancy
−$7.9K −$1.69/SF
EGI
$113.3K $24.35/SF
− OpEx
−$51.0K −$10.96/SF
NOI
$62.3K $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%
$1,245,900
Cap Rate 7%
$889,929
Cap Rate 9%
$692,167
Alternative Uses
Best Use
Apartment 5plus
$889.9K
$778.7K – $1.04M
NOI $62,295 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,172 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,494
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 - Central A/C serves the two-bedroom residences, while efficiencies have individual wall A/C units.
Where is this apartment building located?
The property is located at 20 W 37th St Hialeah, FL.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Four 2‑bedroom / 1‑bath units plus two efficiencies; Unit 1 fully remodeled in 2025 with new A/C, ductwork, kitchen, and appliances; Three 2‑bedroom units have tenants with 10+ years of occupancy
