4260 Palm Ave, Hialeah, FL

About this property

Rare opportunity to acquire a fully occupied, newer-construction mixed-use property in the heart of Hialeah. Built in 2020, the three-story building includes 12 one-bedroom, one-bathroom apartments and two ground-floor retail spaces occupied by one commercial tenant. The property generates $25,192 in monthly rental income, or $302,304 annually, offering a 5.23% in-place cap rate with the potential to reach approximately 5.65% as below-market residential rents are increased to market. Each apartment offers approximately 650 SF and features impact windows and doors, central A/C, granite kitchen countertops, ceramic tile flooring, and an in-unit washer and dryer. Separate water and electric meters help control operating expenses. The approximately 1,300 SF retail component diversifies the income stream. Situated on an 11,508 SF lot along highly visible Palm Avenue, the property provides 13 parking spaces. This stabilized asset combines strong current cash flow, newer construction, limited anticipated capital needs, and identifiable rental upside in one of South Florida’s most supply-constrained rental markets.