955 W 23rd Street, Hialeah, FL 33010

Listing Snapshot

About This Home

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.

General Features

Property Type

ResidentialIncome

Sub-type

Quadruplex

Stories

2

Parking Spaces

4

Zoning

4600

Utilities

CableNotAvailable

Subdivision

HIA HOMESITES 1ST ADDN

Interior Features

Flooring

Terrazzo

Heating

Electric,HeatPump,SeparateMeters

Cooling

Electric,WallWindowUnits

Laundry

Outside

Exterior Features

Construction

Block

Exterior Features

Lighting

Roof

Concrete

Lot Features

CornerLot

Fencing

Fenced

Pool

No

Waterfront

No

Community Features

MLS Area

2300

Schools

Map

Virtual Tour