Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    423 Units Hialeah, FL 33013
    Property profile & analytics

    423 Units, Hialeah, FL 33013

    View on Map
    • Apartment buildings
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 423 Units

    Year built
    2021
    Property type
    Apartment buildings
    Property subtype
    Small apartment buildings

    Description

    This exceptional 2021-built, three-story apartment building in Hialeah, Florida, presents a compelling investment opportunity. Located at 423 E 27th St, this nine-unit property boasts a desirable mix of unit configurations. Five units offer two bedrooms and two bathrooms, while the remaining four units feature two bedrooms plus a den, easily convertible into a third bedroom. All nine units are equipped with in-unit washer and dryer sets and feature high-quality porcelain flooring throughout. The property's low maintenance costs are a significant advantage, with alarm cameras, lawn care, and trash removal averaging less than $70 per unit monthly. This represents a substantial cost savings for the owner. The building's strong rental income potential is further enhanced by its prime location in Miami-Dade County, Florida, within the vibrant city of Hialeah, zip code 33013. The asking price for this turnkey investment is $3,999,000. This property is ideal for investors seeking a stable, high-performing asset with significant upside potential. The building's modern construction and desirable features ensure strong tenant demand and long-term value appreciation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hialeah
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2738
    Latitude
    25.847

    Comparable in this City

    • Value Estimation by Request

      662 21St St

      Multifamily properties
      662 21St St, Hialeah, FL 33013
      View Details
    • Value Estimation by Request

      492 28Th St

      Multifamily properties
      492 28Th St, Hialeah, FL 33013
      View Details
    • Value Estimation by Request

      740 41St St

      Multifamily properties
      740 41St St, Hialeah, FL 33013
      View Details
    • Value Estimation by Request

      820 43Rd St

      Multifamily properties
      820 43Rd St, Hialeah, FL 33013
      View Details
    • Value Estimation by Request

      971 18Th St

      Multifamily properties
      971 18Th St, Hialeah, FL 33013
      View Details
    • Value Estimation by Request

      703 37Th St

      Multifamily properties
      703 37Th St, Hialeah, FL 33013
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      New Multifamily Community in Hialeah

      Newly delivered 151-unit Class A multifamily community in Hialeah, Florida.
      1025 E 25Th St, Hialeah, FL 33013
      View Details
    • Contact for pricing
      2,908 SF

      Renovated Multifamily Property in Hialeah

      Fully renovated multifamily property with three units in East Hialeah.
      252 E 36Th St, Hialeah, FL 33013
      View Details
    • $899,000
      Pending

      Renovated Multifamily Property in Hialeah

      Fully renovated multifamily property with three units in East Hialeah.
      252 E 36Th St, Hialeah, FL 33013
      View Details
    • Contact for pricing
      4,268 SF

      Hialeah Duplex with Oversized Lot

      Large duplex in Hialeah, fully rented, near major amenities.
      952 E 19Th St, Hialeah, FL 33013
      View Details
    • Contact for pricing
      8,000 SF

      Hialeah Development Opportunity Site

      Development site in East Hialeah with redevelopment potential.
      1175 E 25Th St, Hialeah, FL 33013
      View Details

    Similar Nearby for Lease

    • $2,700 /Mo

      Modern Hialeah Home For Rent

      Spacious, modern two-bedroom home with open floor plan and parking.
      4817 E 9Th Ln, Hialeah, FL 33013
      View Details
    • $2,800 /Mo

      Spacious Ground Floor Unit

      Bright 3-bedroom, 2-bath unit with modern layout and backyard.
      810 E 32Nd St, Hialeah, FL 33013
      View Details
    • $2,850 /Mo

      East Hialeah Duplex For Rent

      Spacious 3-bedroom, 2-bath duplex in a central location.
      996 E 24Th St, Hialeah, FL 33013
      View Details
    • $3,300 /Mo

      Remodeled Hialeah Multifamily Unit

      Remodeled 3/2 unit near Amelia Earheart Park for rent.
      650 E 65Th St, Hialeah, FL 33013
      View Details
    • $12 SF/Yr

      Updated Duplex Unit with Parking

      Renovated 4-bedroom duplex unit with ample parking available for lease.
      361 E 39Th St, Hialeah, FL 33013
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    423 Units
    Hialeah, FL 33013
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    423 Units, Hialeah, FL, 33013
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!