1460 W 29th St - Apartments FOR SALE


Hialeah, FL 33012
$2,200,000 USD
305-205-3291
1460 W 29th St, Hialeah, FL for Sale
$2,200,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

1460 W 29th St
Hialeah, FL 33012


HIGHLIGHTS

  • Significant Value-Add Opportunity – In-place rents ($1,300) vs. market rents ($2,000)
  • 100% Two-Bedroom Units – Highly desirable layout for workforce and family tenants
  • Month-to-Month Leases – Full operational flexibility to raise rents immediately
  • Strong Rental Submarket – Located in dense, high-demand area of Hialeah
  • Revenue Growth Potential – Ability to significantly increase NOI through renovations and rent optimization
  • Investor-Friendly Asset – Ideal for repositioning, cash flow growth, and long-term appreciation

OVERVIEW

Residences at West 29 presents a compelling value-add multifamily investment opportunity in the high-demand rental market of Hialeah. Located at 1460 W 29th Street, the property features 100% two-bedroom units, ideally suited for the area’s strong workforce and family-oriented tenant base. The asset is currently operating with in-place rents averaging approximately $1,300, significantly below estimated market rents of $2,000, offering investors a clear and scalable path to increased revenue. This substantial rent gap provides immediate upside through unit renovations, operational improvements, and strategic rent adjustments. Notably, all leases are month-to-month, allowing for maximum flexibility and rapid execution of a value-add strategy. New ownership can efficiently implement rent increases and reposition the asset without being encumbered by long-term lease structures. The property is strategically located with convenient access to major thoroughfares and employment centers throughout the greater Miami metro area. With strong population density, limited new supply, and continued rental growth across Miami-Dade County, the asset benefits from durable demand and long-term appreciation potential. Residences at West 29 offers investors a rare opportunity to acquire a fully occupied, income-producing asset with immediate upside and operational flexibility in one of South Florida’s most resilient multifamily submarkets.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$331 USD /SF

# OF UNITS

8

PRICE/UNIT

$275,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Residences at West 29

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,216 SF

ZONING

R-3

APN/PARCEL ID

04-3011-002-1396

ASK ABOUT THIS PROPERTY

Gregory CelentanoUnion Street PartnersMore Info
305-205-3291

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Gregory CelentanoUnion Street PartnersMore Info
305-205-3291

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.