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955 23rd St
Miami-dade, Hia Homesites 1st Addn, Hialeah, FL
FOR SALE
Asking
$1,250,000
BTC
17.096
ETH
555.23
Home Size
3,544 sq. ft.
Year Built
1969
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.
LOADING
Location
Market Area
Miami-Dade
Neighborhood
HIA HOMESITES 1ST ADDN
Agents
Mauricio Villasuso
+1 310 910 1722
Marcel Perez
+1 310 910 1722