Eight-Unit Apartment
For Sale
$1,615,000
85 W 28th St, Hialeah, FL 33010
Four one-bedroom and four two-bedroom residences support flexible month-to-month leasing.
Property Size4,905 SF
Lot Size0.15 Acres
Price / SF$329.26
Days on Market86
Property Features for 85 W 28th St
General Information
Standard status
Active
Size
4,905 SF
Lot size
0.15 Acres
Property subtype
Income/MultiFamily
Occupancy
100%
Net Operating Income
$75,800
Financials
Cap Rate
4%
Gross Income
$124,800
Units
Unit Mix
4 x 1BD/1BA, 4 x 2BD/1BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$13,920
Building Details
Building Size
4,905 SF
Year Built
1971
Buildings
1
Stories
2
Listing Agency:
RE/MAX United Realty
Listed By:
Saul Milian · License #3325806
(305) 606-1069
Source:
Marcelosteinmander
Added: Jul 16
Changed: Oct 9
Last Checked: Oct 7 at 4:03PM
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 RE/MAX United Realty
Investment Insights
Based on property information with market context.
This two-story apartment property contains 4,905 square feet of living space on a 6,450-square-foot lot. Built in 1971, the building includes eight units: four configured with one bedroom and one bathroom, plus four with two bedrooms and one bathroom. Recent property improvements include a 1 year old roof, impact windows, and security cameras. The asset also provides 10 parking spaces.
All units are occupied under flexible month-to-month leases. Located at 85 28th St in Hialeah, the property offers an established multifamily configuration with a balanced unit mix and current occupancy in place. The reported cap rate is 4%.
All units are occupied under flexible month-to-month leases. Located at 85 28th St in Hialeah, the property offers an established multifamily configuration with a balanced unit mix and current occupancy in place. The reported cap rate is 4%.
Key Highlights
- Eight units: four 1BD/1BA and four 2BD/1BA apartments
- 4,905 sq ft building on a 6,450 sq ft lot
- 100% occupied with flexible month‑to‑month leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,683
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,313,660
$1.3M
Cap Rate 7%
$938,329
$938.3K
Cap Rate 9%
$729,811
$729.8K
Market Conditions
NOI Build-Up for 4,905 SF
Gross rent
$127.7K $26.04/SF
− Vacancy
−$8.3K −$1.69/SF
EGI
$119.4K $24.35/SF
− OpEx
−$53.7K −$10.96/SF
NOI
$65.7K $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 Rate 5%
$1,313,660
Cap Rate 7%
$938,329
Cap Rate 9%
$729,811
Alternative Uses
Best Use
Apartment 5plus
$938.3K
$821.0K – $1.09M
NOI $65,683 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,143 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,858
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
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 - Four one-bedroom and four two-bedroom residences support flexible month-to-month leasing.
Where is this apartment building located?
The property is located at 85 W 28th St Hialeah, FL.
What is the asking price?
The asking price for this property is $1,615,000.
What are key features of this property?
This property features: Eight units: four 1BD/1BA and four 2BD/1BA apartments; 4,905 sq ft building on a 6,450 sq ft lot; 100% occupied with flexible month‑to‑month leases
