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101 11Th St Hialeah, FL 33010

For Sale
$2,800,000

9-Unit Boutique Apartment Building, High NOI

Property size:
5,921 SF

Description

Added:
Dec 11, 2024
Days on Market:
362
This exceptional 9-unit apartment building in Hialeah, Florida presents a compelling investment opportunity. Located at 101 W 11th St, this Class B property boasts 5,677 square feet of net rentable space across two one-story buildings, built in 1956 and renovated 3 years ago. The property features a mix of one and two-bedroom units, currently enjoying 100% occupancy. The current Net Operating Income (NOI) is $154,279, with a pro-forma NOI of $173,479, yielding a 5.51% cap rate and a pro-forma cap rate of 6.20%. The asking price is $2,800,000, translating to $311,111 per unit and $472.89 per square foot. Key features include impact windows, a certified roof, central air conditioning in all units, an expansive backyard, an enclosed courtyard, and ample parking (11 spaces plus street parking). On-site coin-operated laundry adds further convenience. The 13,500 square foot lot is zoned 4600. This stabilized investment benefits from strong rental demand in Hialeah, a prime rental market, and offers potential for future rent increases given several month-to-month tenants. The property's attractive features and location make it an ideal addition to any investment portfolio. The property is situated in Miami-Dade County, Florida, zip code 33010.

Property Features for 101 11Th St

General Information

Property type
Multifamily properties
Square Feet
5,921 SF
Class
B

Building Details

Year Built/Renovated
1956/3
Buildings
2
Stories
1
Units
9

Property Profile Insight Report Location Intelligence

Current Use by Public Records

Small apartment buildings

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Hialeah
County
Miami-Dade
State
Florida
Longitude
-80.283726076938
Latitude
25.831681959455

FAQs

What type of property is this?
Multifamily property - 9-Unit Boutique Apartment Building, High NOI
Where is this multifamily property located?
The property is located at 101 11Th St Hialeah, FL.
What is the asking price?
The asking price for this property is $2,800,000.
More about this property
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