Hialeah 54 units on 24 Street 853 E 24th St 54 Unit Apartment Building $20,500,000 ($379,630/Unit) 5% Cap Rate Hialeah, FL 33013

CBRE is pleased to present the opportunity to acquire four newly constructed apartment communities totaling 54 units in Hialeah, FL.
The four properties—located along 24th Street within 100 yards from each other—can be acquired as a portfolio or individually. The two properties, 853 & 859 E 24th Street are
located next to each other, total 30 units and received their CO in 2022. The additional two properties, 879 & 909 E 24th Street are located less than a block to the east of the first two, total 24 units and received their CO in May and July 2025 respectively. All units are market driven and provide modern finishes including 9-foot ceilings, in-unit
washer and dryers, stainless-steel appliances, impact windows, granite counter-tops in the kitchen and bathrooms.

The two properties—located next to each other—can be acquired as a portfolio or individually. In addition, there is the potential to add an additional 24 units to the portfolio by the same developer. The additional 24 units are slated for delivery in late Q2 2025 for a combined portfolio of 54 units. All properties are within one block of each other.

All units are market driven and provide modern finishes including 9-foot ceilings, in-unit washer and dryers, stainless-steel appliances, impact windows, granite countertops in the kitchen and bathrooms.

At a mere 3.7%, the Hialeah submarket has the lowest vacancy rate in Florida and the entire South East of the U.S. The average rent in Hialeah is over $2,000 per unit. Over 90% of the inventory within the submarket is built before the 1980’s.

The demand for newly constructed rentals at middle market rents is significant. Newly constructed units are well received within Hialeah, as they are filling a void within the submarket and in Miami-Dade.

This is a key interchange station that connects the Tri-Rail commuter rail system with the Miami-Dade Metrorail system. This is one of the most important rail stations in Miami-Dade as it allow for the transfers between the two rail systems, making it convenient for commuters traveling within the South Florida region. Additionally, the station provides connections to various Metrobus routes, enhancing accessibility to different parts of the city.