Description

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.

Address

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Address: 23rd St
City: Hialeah
State/county: Miami-Dade County
Zip/Postal Code: 33010
Area: HIA HOMESITES 1ST ADDN

Details

Updated on April 19, 2026 at 2:44 am

Property ID A11993310
Price $1,250,000
Property Size 3544 Square Feet
Year Built 1969
Type Quadruplex
Property Status Residential Income

Additional details

ArchitecturalStyle Detached
BuildingAreaTotal 3544
BuildingAreaUnits Square Feet
BuildingFeatures Laundry Facility
BuildingName HIA HOMESITES 1ST ADDN
ConstructionMaterials CBS Construction
ContractStatusChangeDate 2026-03-24
Cooling Electric, Wall/Window Unit(s)
DaysOnMarket 25
DocumentsAvailable Accounting Statements, Copy Of Lease(S), Rent Rolls, Existing Survey
ExpirationDate 2026-09-06
Fencing Fenced
Flooring Terrazzo
Heating Electric, Reverse Cycle Unit
InternetAddressDisplayYN 1
InternetEntireListingDisplayYN 1
ListAOR A-Miami Association of REALTORS
ListAgentDirectPhone 305-340-8901
ListingTerms All Cash, Conventional
LotFeatures Less Than 1/4 Acre Lot, Corner Lot
LotSizeSquareFeet 0
MLSAreaMajor Hia Homesites 1st Addn
MajorChangeTimestamp April 2, 2026 at 03:25pm
MajorChangeType New
MlsStatus Active
ModificationTimestamp April 18, 2026 at 05:35pm
NetOperatingIncome 42208
NumberOfUnitsInCommunity 4
NumberOfUnitsTotal 4
OnMarketDate 2026-03-24
OperatingExpense 38892
OriginalEntryTimestamp April 2, 2026 at 03:25pm
OriginalListPrice 1250000
OriginatingSystemID miamire
OriginatingSystemKey miamire
OriginatingSystemName Miami Association of REALTORS®
OtherExpense 0
ParcelNumber 04-30-12-019-0292
ParkingTotal 4
PhotosChangeTimestamp April 18, 2026 at 05:37pm
PhotosCount 30
Possession Funding
PostalCodePlus4 2041
PriceChangeTimestamp April 1, 2026 at 06:59pm
PublicSurveyRange 30
PublicSurveySection 12
PublicSurveyTownship 30
RentIncludes Gardener, Pest Control, Sewer, Trash Collection, Water
Roof Concrete
Sewer Public Sewer
ShowingInstructions 24 Hour Notice, Appointment Only, See Broker Remarks
SourceSystemKey 448542820
StateOrProvince FL
StatusChangeTimestamp April 2, 2026 at 03:25pm
Stories 2
StoriesTotal 2
StreetDirPrefix W
StreetName 23rd St
StreetNumber 955
StreetNumberNumeric 955
StructureType Quadruplex, Fourplex
SyndicationRemarks 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.
TaxAnnualAmount 11990
TaxLegalDescription PB 18-37 HIALEAH HOMESITES 1ST ADDN LOTS 21 & 22 BLK 5 LOT SIZE 5300 SQUARE FEET OR 14654-829 0890 1
TaxYear 2025
TotalActualRent 81100
WaterSource Municipal Water
WindowFeatures Complete Accordian Shutters, Hurricane Shutters
YearBuiltDetails Resale
Zoning 4600