955 W 23rd St, Hialeah, FL, 33010
1969
Fourplex
3,544 sqft
This 1969 four-plex is situated on a prime corner lot, offering a high-yield, turnkey acquisition for investors targeting one of Miami’s most resilient rental sub-markets. The building consists of four spacious 2-bedroom, 1-bathroom units, featuring a private and functional layout of two units per floor. The asset has been significantly de-risked with major capital improvements, including a new roof (2025), a completed 40-year recertification, and on-site laundry facilities. Each unit is equipped with individual mini-split AC systems, allowing for decentralized maintenance and efficient utility management. The property presents a compelling value-add opportunity, as current rents sit significantly below the local market average. With a current monthly gross of $5,500 and a conservative pro forma potential of $8,400/mo, an investor can realize an immediate increase in NOI through lease renewals and minor cosmetic updates. The building's CBS construction and placement on a 5,300 SF lot—zoned R-3-5 (High-Density)—provides both immediate cash flow and long-term land value appreciation. Strategically located just minutes from Miami International Airport, the Okeechobee Metro-rail Station, and Palm Avenue corridor, this property caters to a stable workforce and a growing population of young professionals. This is an ideal asset for a portfolio growth play in a neighborhood where vacancy remains at historic lows.
Status:
Active
Type:
Multi-family
Zoning:
4600
Subdivision:
HIA HOMESITES 1ST ADDN
Heating:
Electric, Heat Pump
Cooling:
Electric, Wall/Window Unit(s)
Parking:
4-car
Est. Taxes:
$11,990
Construction
Block
Utilities
Cable Not Available
Lot Description:
Corner Lot,< 1/4 Acre
Days on Market:
9
Pool:
None
MLS #:
A11993310
Community Info
School Info
Walk Score
Yelp
Listing courtesy of Fausto Commercial Realty Consultants Inc 786-748-7373