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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

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    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.
    Request Owner's contact information
    101 11Th St Hialeah, FL 33010
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    Hialeah, FL 33010
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    101 11Th St Hialeah, FL 33010
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