Quadplex with Renovated 2/1
For Sale
$890,000
Pending
233 E 7th St, Hialeah, FL 33010
MULTI_FAMILY - Hialeah, FL
Property Size2,374 SF
Days on Market47
Property Features for 233 E 7th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
3900
Parking
5
Subdivision
HIALEAH 4TH ADDN
Lot features
< 1/4 Acre
Standard status
Pending
APN
04-31-18-006-0721
Size
2,374 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HIALEAH 4TH ADDN PB 7-83 LOT 20 BLK 33 LOT SIZE 50.000 X 135 OR 18925-4707 1199 1
Tax Annual Amount
10350
Legal Description
HIALEAH 4TH ADDN PB 7-83 LOT 20 BLK 33 LOT SIZE 50.000 X 135 OR 18925-4707 1199 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s), Wall/Window Unit(s), Central Air
Building Details
Year built
1972
Floors in Building
1
Flooring type
Terrazzo, Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Xcellence
(866) 595-6025
Listed By:
Javier Rodriguez · License #3189884
(305) 742-3396
Added: Jul 2
Changed: Aug 1
Last Checked: Aug 17 at 8:06AM
MLS# A12033391
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 quadplex at 233 E 7th St features four total rental units and is fully occupied. The unit mix includes two 2/1 apartments and two studios. One of the 2/1 units was fully renovated with modern finishes, including new kitchens and impact windows. The property spans 2,374 square feet and was built in 1972.
Construction is block, with terrazzo and tile flooring throughout. Heating includes central service, and cooling is provided via central air and window/wall unit(s). The roof is shingle, and utilities include cable availability, with public sewer.
The building also provides ample on-site parking. Tenants are in place, and showings are by appointment with the listing agent. Access to local dining, shopping, public transportation, major highways, and Downtown Miami is described as convenient.
Construction is block, with terrazzo and tile flooring throughout. Heating includes central service, and cooling is provided via central air and window/wall unit(s). The roof is shingle, and utilities include cable availability, with public sewer.
The building also provides ample on-site parking. Tenants are in place, and showings are by appointment with the listing agent. Access to local dining, shopping, public transportation, major highways, and Downtown Miami is described as convenient.
Key Highlights
- Fully occupied quadplex with four rental units: two 2/1 units and two studios
- One renovated 2/1 unit with new kitchens and impact windows
- 2,374 SF quadplex built in 1972
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
$34,125
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
3.83%
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%
$682,500
$682.5K
Cap Rate 7%
$487,500
$487.5K
Cap Rate 9%
$379,167
$379.2K
Market Conditions
NOI Build-Up for 2,374 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
$52.7K $22.20/SF
− Vacancy
−$4.0K −$1.67/SF
EGI
$48.8K $20.54/SF
− OpEx
−$14.6K −$6.16/SF
NOI
$34.1K $14.37/SF
Area
Hialeah, FL
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$682,500
Cap Rate 7%
$487,500
Cap Rate 9%
$379,167
Alternative Uses
Best Use
Multifamily LT 5
$487.5K
$426.6K – $568.8K
NOI $34,125 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$454.1K
$397.4K – $529.8K
NOI $31,790 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$934.4K
$817.6K – $1.09M
NOI $65,408 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,238
Businesses Nearby
Explore this area
Business Placement
Demographics for 33010, FL
43,902
Population
16,456
Households
2.7
Avg Household Size
48
Median Age
20%
College-Educated
71%
High-School Grad
4.3 sq mi
ZIP Area
10,210
Density / Sq Mi
$45,449
Median Household Income
$30,466
Median Earnings
$1,318
Median Rent
$346,500
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?
Quadplex - Fully occupied quadplex with two 2/1 units and two studios, including one renovated with impact windows.
Where is this quadplex located?
The property is located at 233 E 7th St Hialeah, FL.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Fully occupied quadplex with four rental units: two 2/1 units and two studios; One renovated 2/1 unit with new kitchens and impact windows; 2,374 SF quadplex built in 1972
