Hia Homesites 1 St Addn

Highlights:

• Lot Features: Less Than 1/4 Acre Lot, Corner Lot
• Building Features: Laundry Facility
• Documents Available: Accounting Statements, Copy Of Lease(S), Rent Rolls, Existing Survey
• Architectural Style: Detached
• Cooling: Electric, Wall/Window Unit(s)
• Heating: Electric, Reverse Cycle Unit
• Flooring: Terrazzo
• Construction Materials: CBS Construction

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.

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Listing ID: A11993310