101 11Th St Hialeah, FL 33010
- Small apartment buildings
- 5,921 SF
Current Use by Public Records
- Small apartment buildings
Property Details for 101 11Th St
- Year built
- 1956
- Property size
- 5,921 SF
- Property type
- Small apartment buildings
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hialeah
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.283726076938
- Latitude
- 25.831681959455
