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Multifamily

Palm West Apartments

66 W 9th St, Hialeah, FL 33010

Listing Price: $800,000

Cap Rate
1.93%
Number of Units
4
Occupancy
95.0%
Price/Unit
$200,000
Price/Gross SF
$367.31
Gross SF
2,178

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer the rare opportunity to acquire Palm West Apartments, a four-unit building located in the heart of Hialeah, Florida. The building is situated on West 9th Street, which is a busy corridor within the submarket and it’s just five blocks north of Okeechobee Road. Palm West Apartments was constructed in 1964 and consists of a one-story building with green space on the back, situated on a 0.15 acre site. The building is comprised of four one-bedroom/one bathroom apartment units that have been meticulously maintained throughout the years. Each unit offers central heating and air-conditioning, a separate hot water heater and is individually metered for electricity. The property has a laundry facility. Palm West Apartments is located in a predominantly residential neighborhood, east of an industrial hub in Hialeah which houses manufacturing, logistical and distribution businesses. Hialeah Hospital, Mount Sinai Hialeah Health Emergency Center and Palmetto General Hospital are major employers in the area creating over 2,500 jobs. The location provides direct access to Okeechobee Road to the west and downtown Hialeah and Palm Avenue to the east. The Okeechobee Metrorail Station is located a few blocks away, providing easy access to commuting residents. This rental market provides consistency and stability for investors, with a robust workforce living in the immediate area.

Investment Highlights

  • Approximately 18% Upside in Rental Income
  • Meticulously Maintained Units
  • Large Floor Plan
  • Off-Street Parking
  • Laundry Facility
  • Walking Distance from Public Transportation

Exclusively Listed By

Financing By

Multifamily

Palm West Apartments

Listing Price: $800,000

Cap Rate
1.93%
Number of Units
4
Occupancy
95.0%
Price/Unit
$200,000
Price/Gross SF
$367.31
Gross SF
2,178

Investment Highlights

  • Approximately 18% Upside in Rental Income
  • Meticulously Maintained Units
  • Large Floor Plan
  • Off-Street Parking
  • Laundry Facility
  • Walking Distance from Public Transportation

Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to offer the rare opportunity to acquire Palm West Apartments, a four-unit building located in the heart of Hialeah, Florida. The building is situated on West 9th Street, which is a busy corridor within the submarket and it’s just five blocks north of Okeechobee Road. Palm West Apartments was constructed in 1964 and consists of a one-story building with green space on the back, situated on a 0.15 acre site. The building is comprised of four one-bedroom/one bathroom apartment units that have been meticulously maintained throughout the years. Each unit offers central heating and air-conditioning, a separate hot water heater and is individually metered for electricity. The property has a laundry facility. Palm West Apartments is located in a predominantly residential neighborhood, east of an industrial hub in Hialeah which houses manufacturing, logistical and distribution businesses. Hialeah Hospital, Mount Sinai Hialeah Health Emergency Center and Palmetto General Hospital are major employers in the area creating over 2,500 jobs. The location provides direct access to Okeechobee Road to the west and downtown Hialeah and Palm Avenue to the east. The Okeechobee Metrorail Station is located a few blocks away, providing easy access to commuting residents. This rental market provides consistency and stability for investors, with a robust workforce living in the immediate area.

Exclusively Listed By

Financing By

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