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Multifamily

Five Hialeah Portfolio

324 West 74th Place, 1455 West 28th Street, 456 East 28th Street, 128 & 132 West 7th Street, Hialeah, FL 33010

Listing Price: $7,245,000

Cap Rate
4.26%
Number of Units
42
Price/Unit
$172,500
Price/Gross SF
$316.32
Gross SF
22,904

Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Five Hialeah Portfolio, which consists of five properties totaling 42-units in Hialeah, Florida. SUBJECT PROPERTIES The Five Hialeah Portfolio consists of the following properties listed by location from north to south: 324 West 74th Place is a 7-unit, two-story apartment building located just south of the Gratigny Parkway and just east of Red Road in the city of Hialeah. The property was built in 1988 of concrete block and stucco, contains 5,679 adjusted square feet and is situated on an 11,748 square foot lot, according to the Miami Dade County Property Appraiser. 324 West 74th Place consists of (7) two-bedroom | one-and-a-half bathroom townhomes with an average in-place rent of $1,707 per month. The apartments feature central air conditioning, electric appliances, ceramic tile flooring, as well as private balconies and patios. 1455 West 28th Street is an 8-unit, two-story apartment building located just north of Okeechobee Road, between Milam Dairy Road and Ludlam Road in the city of Hialeah. The property was originally built in 1972 of concrete block and stucco, contains 3,744 adjusted square feet and is situated on a 10,125 square foot lot, according to the Miami Dade County Property Appraiser. 1455 West 28th Street consists of (4) one-bedroom | one-bathroom apartments with an average in-place rent of $1,275 per month and (4) two-bedroom | one-bathroom apartments with an average in-place rent of $1,386 per month. The apartments feature wall and window air conditioning units, electric appliances, terrazzo flooring and the community includes a common area laundry room for residents and guests. 456 East 28th Street is an 11-unit apartment complex consisting of (3) single-story buildings located directly east of the Hialeah Park Casino and Racetrack. The property was originally constructed in 1956 of concrete block and stucco, contains 3,786 adjusted square feet and is situated on an 11,440 square foot lot, according to the Miami Dade County Property Appraiser. 456 East 28th Street consists of (8) studio apartments with an average in-place rent of $1,081 per month and (3) one-bedroom apartments with an average in-place rent of $1,258 per month. The apartments feature wall air conditioning units, electric appliances, ceramic tile flooring and the community includes a common area laundry room for residents and guests. 128 and 132 West 7th Street is a 10-unit apartment complex consisting of (2) single-story buildings located just north of West Okeechobee Road and just west of Palm Avenue, near Hialeah City Hall. The properties were originally constructed in 1963 of concrete block and stucco, contain a total of 5,012 adjusted square feet and comprise a total lot size of 13,500 square feet, according to the Miami-Dade County Property Appraiser. 128-132 West 7th Street consists of (2) studio apartments with an average in-place rent of $963 per month and (8) one-bedroom apartments with an average in-place rent of $1,078 per month. The apartments feature wall air conditioning, electric appliances, ceramic tile flooring and the communities include a common area laundry room for residents and guests. 65 West 6th Street is a 6-unit, two-story apartment building located just north of West Okeechobee Road and just west of Palm Avenue, near Hialeah City Hall. The property was originally constructed in 1968 of concrete block, contains 4,419 adjusted square feet and is situated on a 6,750 square foot lot, according to the Miami-Dade County Property Appraiser. 65 West 6th Street consists entirely of two-bedroom apartments with an average in-place rent of $1,392 per month. The apartments feature wall and window air conditioning units, electric appliances, ceramic tile flooring and the communities include a common area laundry room for residents and guests. LOCATION The Five Hialeah Portfolio is located between Okeechobee Boulevard to the west and East 8th Avenue to the east and Hialeah Drive to the south and West 49th Street to the north. 324 West 74th Place is located just east of Red Road near a variety of shopping, dining, entertainment attractions, and employment centers. The location allows for convenient access to the Gratigny Parkway (Florida State Road 924), Interstate 75 and the Palmetto Expressway (Florida State Road 826). 324 West 74th Place is also located just a short drive from Downtown Miami Lakes, Shula’s Golf Club, Palmetto General Hospital and Miami-Dade College’s North Campus. Additionally, the property is just to the west of Amelia Earhart Park, a 515-acre park with a petting zoo, sports fields, a water-sports complex, playground, and five lakes. The Miami-Opa Locka Executive Airport, Miami International Airport, Hialeah Park Racing & Casino and Hialeah Hospital are also easily accessible. Nearby educational centers include Amelia Earhart Elementary School, John G. Dupuis Elementary School, Palm Springs Middle School and Miami Lakes Senior High School. 1455 West 28th Street is situated along West 28th Street, just north of Okeechobee Road between Milam Dairy Road and Ludlam Road near a variety of shopping, dining, entertainment attractions, and employment centers. The location allows for convenient access to the Gratigny Parkway (Florida State Road 924), Interstate 75 and the Palmetto Expressway (Florida State Road 826). 1455 West 28th Street is also located just a short drive from Westland Mall, Goodlet Park, Amelia Earhart Park, Palmetto General Hospital and Miami-Dade College’s North Campus. The Miami-Opa Locka Executive Airport, Miami International Airport, Hialeah Park Racing & Casino and Hialeah Hospital are also easily accessible. Nearby educational centers include Mae M Walters Elementary School, Henry H. Filer Middle School and Miami Springs Senior High School. 456 East 28th Street is situated along East 28th Street, just to the east of East 4th Avenue and the Hialeah Park Race Track and Casino near a variety of shopping, dining, entertainment attractions, and employment centers. The location allows for convenient access to the Gratigny Parkway (Florida State Road 924), Interstate 75 and the Palmetto Expressway (Florida State Road 826). 456 East 28th Street is also in close proximity to Hialeah Hospital and Leon Medical Center, as well as multiple schools including Flamingo Elementary School, North Hialeah Elementary School and Hialeah Senior High School and just a short drive from Westland Mall, Goodlet Park, Amelia Earhart Park, Palmetto General Hospital and Miami-Dade College’s North Campus. The Miami-Opa Locka Executive Airport, Miami International Airport, Hialeah Park Racing & Casino and Hialeah Hospital are also easily accessible. 128 & 132 West 7th Street are situated along West 7th Street, just west of Palm Avenue and north of Okeechobee Road near a variety of shopping, dining, entertainment attractions, and employment centers. The location allows for convenient access to the Gratigny Parkway (Florida State Road 924), Interstate 75 and the Palmetto Expressway (Florida State Road 826). The property is also located just one block from the Hialeah City Hall and Hialeah Fire Department, as well as the Dade County District Courthouse and just a short drive from Westland Mall, Goodlet Park, Amelia Earhart Park, Palmetto General Hospital and Miami-Dade College’s North Campus. The Miami-Opa Locka Executive Airport, Miami International Airport, Hialeah Park Racing & Casino and Hialeah Hospital are also easily accessible. Nearby educational centers include South Hialeah Elementary School, Miami Springs Middle School and Miami Springs Senior High School. 65 West 6th Street is situated along West 6th Street, just west of Palm Avenue and north of Okeechobee Road near a variety of shopping, dining, entertainment attractions, and employment centers. The location allows for ¬convenient access to the Gratigny Parkway (Florida State Road 924), Interstate 75 and the Palmetto Expressway (Florida State Road 826). 65 West 6th Street is also located just two blocks from the Hialeah City Hall and Hialeah Fire Department, as well as the Dade County District Courthouse and just a short drive from Westland Mall, Goodlet Park, Amelia Earhart Park, Palmetto General Hospital and Miami-Dade College’s North Campus. The Miami-Opa Locka Executive Airport, Miami International Airport, Hialeah Park Racing & Casino and Hialeah Hospital are also easily accessible. Nearby educational centers include South Hialeah Elementary School, Miami Springs Middle School and Miami Springs Senior High School. The Five Hialeah Portfolio is also proximate to the Miami International Airport, Miami Springs Golf & Country Club, Miami Dade College North Campus, Palmetto General Hospital, Westland Mall and Hialeah Hospital. SUMMARY The Five Hialeah Portfolio is being offered for sale at $7,245,000 or $172,500 per unit.

Investment Highlights

  • 42-Unit, 5-Property Value Add Apartment Portfolio Located in Hialeah
  • Easy Access to Palmetto Expressway, Turnpike, Gratigny Expressway, Okeechobee Road
  • High Demand, In-Fill Rental Locations w/15.2% Population Growth Since 2000
  • Mix of (10) Studios, (15) One Bedrooms and (17) Two Bedrooms
  • Proximate to Miami International Airport, Amelia Earhart Park and Casino Miami

Exclusively Listed By

Financing By

Listing Price: $7,245,000

Cap Rate
4.26%
Number of Units
42
Price/Unit
$172,500
Price/Gross SF
$316.32
Gross SF
22,904

Investment Highlights

  • 42-Unit, 5-Property Value Add Apartment Portfolio Located in Hialeah
  • Easy Access to Palmetto Expressway, Turnpike, Gratigny Expressway, Okeechobee Road
  • High Demand, In-Fill Rental Locations w/15.2% Population Growth Since 2000
  • Mix of (10) Studios, (15) One Bedrooms and (17) Two Bedrooms
  • Proximate to Miami International Airport, Amelia Earhart Park and Casino Miami

Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Five Hialeah Portfolio, which consists of five properties totaling 42-units in Hialeah, Florida. SUBJECT PROPERTIES The Five Hialeah Portfolio consists of the following properties listed by location from north to south: 324 West 74th Place is a 7-unit, two-story apartment building located just south of the Gratigny Parkway and just east of Red Road in the city of Hialeah. The property was built in 1988 of concrete block and stucco, contains 5,679 adjusted square feet and is situated on an 11,748 square foot lot, according to the Miami Dade County Property Appraiser. 324 West 74th Place consists of (7) two-bedroom | one-and-a-half bathroom townhomes with an average in-place rent of $1,707 per month. The apartments feature central air conditioning, electric appliances, ceramic tile flooring, as well as private balconies and patios. 1455 West 28th Street is an 8-unit, two-story apartment building located just north of Okeechobee Road, between Milam Dairy Road and Ludlam Road in the city of Hialeah. The property was originally built in 1972 of concrete block and stucco, contains 3,744 adjusted square feet and is situated on a 10,125 square foot lot, according to the Miami Dade County Property Appraiser. 1455 West 28th Street consists of (4) one-bedroom | one-bathroom apartments with an average in-place rent of $1,275 per month and (4) two-bedroom | one-bathroom apartments with an average in-place rent of $1,386 per month. The apartments feature wall and window air conditioning units, electric appliances, terrazzo flooring and the community includes a common area laundry room for residents and guests. 456 East 28th Street is an 11-unit apartment complex consisting of (3) single-story buildings located directly east of the Hialeah Park Casino and Racetrack. The property was originally constructed in 1956 of concrete block and stucco, contains 3,786 adjusted square feet and is situated on an 11,440 square foot lot, according to the Miami Dade County Property Appraiser. 456 East 28th Street consists of (8) studio apartments with an average in-place rent of $1,081 per month and (3) one-bedroom apartments with an average in-place rent of $1,258 per month. The apartments feature wall air conditioning units, electric appliances, ceramic tile flooring and the community includes a common area laundry room for residents and guests. 128 and 132 West 7th Street is a 10-unit apartment complex consisting of (2) single-story buildings located just north of West Okeechobee Road and just west of Palm Avenue, near Hialeah City Hall. The properties were originally constructed in 1963 of concrete block and stucco, contain a total of 5,012 adjusted square feet and comprise a total lot size of 13,500 square feet, according to the Miami-Dade County Property Appraiser. 128-132 West 7th Street consists of (2) studio apartments with an average in-place rent of $963 per month and (8) one-bedroom apartments with an average in-place rent of $1,078 per month. The apartments feature wall air conditioning, electric appliances, ceramic tile flooring and the communities include a common area laundry room for residents and guests. 65 West 6th Street is a 6-unit, two-story apartment building located just north of West Okeechobee Road and just west of Palm Avenue, near Hialeah City Hall. The property was originally constructed in 1968 of concrete block, contains 4,419 adjusted square feet and is situated on a 6,750 square foot lot, according to the Miami-Dade County Property Appraiser. 65 West 6th Street consists entirely of two-bedroom apartments with an average in-place rent of $1,392 per month. The apartments feature wall and window air conditioning units, electric appliances, ceramic tile flooring and the communities include a common area laundry room for residents and guests. LOCATION The Five Hialeah Portfolio is located between Okeechobee Boulevard to the west and East 8th Avenue to the east and Hialeah Drive to the south and West 49th Street to the north. 324 West 74th Place is located just east of Red Road near a variety of shopping, dining, entertainment attractions, and employment centers. The location allows for convenient access to the Gratigny Parkway (Florida State Road 924), Interstate 75 and the Palmetto Expressway (Florida State Road 826). 324 West 74th Place is also located just a short drive from Downtown Miami Lakes, Shula’s Golf Club, Palmetto General Hospital and Miami-Dade College’s North Campus. Additionally, the property is just to the west of Amelia Earhart Park, a 515-acre park with a petting zoo, sports fields, a water-sports complex, playground, and five lakes. The Miami-Opa Locka Executive Airport, Miami International Airport, Hialeah Park Racing & Casino and Hialeah Hospital are also easily accessible. Nearby educational centers include Amelia Earhart Elementary School, John G. Dupuis Elementary School, Palm Springs Middle School and Miami Lakes Senior High School. 1455 West 28th Street is situated along West 28th Street, just north of Okeechobee Road between Milam Dairy Road and Ludlam Road near a variety of shopping, dining, entertainment attractions, and employment centers. The location allows for convenient access to the Gratigny Parkway (Florida State Road 924), Interstate 75 and the Palmetto Expressway (Florida State Road 826). 1455 West 28th Street is also located just a short drive from Westland Mall, Goodlet Park, Amelia Earhart Park, Palmetto General Hospital and Miami-Dade College’s North Campus. The Miami-Opa Locka Executive Airport, Miami International Airport, Hialeah Park Racing & Casino and Hialeah Hospital are also easily accessible. Nearby educational centers include Mae M Walters Elementary School, Henry H. Filer Middle School and Miami Springs Senior High School. 456 East 28th Street is situated along East 28th Street, just to the east of East 4th Avenue and the Hialeah Park Race Track and Casino near a variety of shopping, dining, entertainment attractions, and employment centers. The location allows for convenient access to the Gratigny Parkway (Florida State Road 924), Interstate 75 and the Palmetto Expressway (Florida State Road 826). 456 East 28th Street is also in close proximity to Hialeah Hospital and Leon Medical Center, as well as multiple schools including Flamingo Elementary School, North Hialeah Elementary School and Hialeah Senior High School and just a short drive from Westland Mall, Goodlet Park, Amelia Earhart Park, Palmetto General Hospital and Miami-Dade College’s North Campus. The Miami-Opa Locka Executive Airport, Miami International Airport, Hialeah Park Racing & Casino and Hialeah Hospital are also easily accessible. 128 & 132 West 7th Street are situated along West 7th Street, just west of Palm Avenue and north of Okeechobee Road near a variety of shopping, dining, entertainment attractions, and employment centers. The location allows for convenient access to the Gratigny Parkway (Florida State Road 924), Interstate 75 and the Palmetto Expressway (Florida State Road 826). The property is also located just one block from the Hialeah City Hall and Hialeah Fire Department, as well as the Dade County District Courthouse and just a short drive from Westland Mall, Goodlet Park, Amelia Earhart Park, Palmetto General Hospital and Miami-Dade College’s North Campus. The Miami-Opa Locka Executive Airport, Miami International Airport, Hialeah Park Racing & Casino and Hialeah Hospital are also easily accessible. Nearby educational centers include South Hialeah Elementary School, Miami Springs Middle School and Miami Springs Senior High School. 65 West 6th Street is situated along West 6th Street, just west of Palm Avenue and north of Okeechobee Road near a variety of shopping, dining, entertainment attractions, and employment centers. The location allows for ¬convenient access to the Gratigny Parkway (Florida State Road 924), Interstate 75 and the Palmetto Expressway (Florida State Road 826). 65 West 6th Street is also located just two blocks from the Hialeah City Hall and Hialeah Fire Department, as well as the Dade County District Courthouse and just a short drive from Westland Mall, Goodlet Park, Amelia Earhart Park, Palmetto General Hospital and Miami-Dade College’s North Campus. The Miami-Opa Locka Executive Airport, Miami International Airport, Hialeah Park Racing & Casino and Hialeah Hospital are also easily accessible. Nearby educational centers include South Hialeah Elementary School, Miami Springs Middle School and Miami Springs Senior High School. The Five Hialeah Portfolio is also proximate to the Miami International Airport, Miami Springs Golf & Country Club, Miami Dade College North Campus, Palmetto General Hospital, Westland Mall and Hialeah Hospital. SUMMARY The Five Hialeah Portfolio is being offered for sale at $7,245,000 or $172,500 per unit.

Exclusively Listed By

Financing By

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