| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 74th | Best |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17900 NE 31st Ct, Aventura, FL, 33160, US |
| Region / Metro | Aventura |
| Year of Construction | 1991 |
| Units | 84 |
| Transaction Date | 2017-11-08 |
| Transaction Price | $57,000,000 |
| Buyer | LINCOLN POINTE LLC |
| Seller | LINCOLN POINTE L CAL LLC |
17900 NE 31st Ct Aventura Multifamily Investment Opportunity
Positioned in an amenity-rich Aventura submarket, this 1991-vintage asset benefits from strong neighborhood income and spending patterns, according to WDSuite’s CRE market data. The area’s deep renter pool and lifestyle conveniences support leasing durability, with selective upgrades offering competitive differentiation.
Aventura’s Urban Core setting delivers lifestyle density that underpins renter appeal for multifamily. Neighborhood amenities test in the 91st percentile nationally, with restaurants near the 98th percentile and grocery access around the 92nd percentile, according to WDSuite’s CRE market data. This concentration of daily-needs and dining options typically supports leasing velocity and renewals for well-managed assets.
Within a 3-mile radius, demographics indicate a stable and economically diverse tenant base. Households are projected to increase by roughly 40% by 2028 while population growth is more modest, pointing to smaller household sizes and a wider pool of prospective renters. Renter-occupied housing share is about 43% today, with WDSuite projections indicating a modest rise by 2028, which can translate into a larger tenant base and support for occupancy stability.
Home values in the neighborhood are elevated relative to incomes (value-to-income ranks in a higher national percentile), and neighborhood rents sit in a high national percentile as well. For investors, this context often sustains multifamily demand and pricing power, but it also calls for attentive lease management to mitigate affordability pressure and protect retention.
The property’s 1991 construction is slightly newer than the neighborhood’s average vintage. That positioning typically provides competitive advantage versus older stock while still warranting targeted modernization of interiors, common areas, and building systems to capture value-add upside and maintain renter expectations in a high-amenity location.
At the metro level, the neighborhood scores competitively—ranked 16th among 449 Miami-area neighborhoods—signaling strong overall fundamentals without relying on any single demand driver. However, neighborhood housing occupancy trends have been softer than national norms, so underwriting should emphasize marketing, unit finish quality, and concessions strategy to sustain lease-up and renewal performance.
Safety indicators compare somewhat below national averages, with violent and property offense measures sitting in lower national percentiles. Recent trends show improvement year over year—violent offense rates declined materially while property offenses edged lower—suggesting conditions have been moving in a positive direction. Compared with the Miami metro, the area performs below the median, so investors typically plan for visible on-site management, lighting, and access controls as part of standard operations.
Proximity to diverse corporate employers supports a broad commuter tenant base and can aid retention. Notable nearby offices span chemicals, healthcare, auto retail, logistics, and energy trading.
- Mosaic — chemicals (9.1 miles)
- Johnson & Johnson — healthcare & pharma (10.2 miles)
- AutoNation — auto retail (12.3 miles) — HQ
- Ryder System — logistics & transport (16.2 miles) — HQ
- World Fuel Services — energy trading (16.2 miles) — HQ
This Aventura asset pairs a high-amenity urban setting with a wide commuter catchment, supporting durable renter demand. Neighborhood rents and home values benchmark high nationally, reinforcing reliance on multifamily housing and pricing power for quality product. The 1991 vintage provides a base that can be competitively repositioned with targeted upgrades to interiors and common areas, aligning the asset with local expectations and capturing value-add potential.
Within a 3-mile radius, WDSuite data points to a growing household count through 2028 and a modest increase in renter-occupied share—factors that expand the tenant base and can support occupancy stability. At the same time, the neighborhood’s housing occupancy trails national norms and rent-to-income levels are elevated, so underwriting should account for active leasing management and thoughtful renewal strategies to balance demand depth with affordability pressure. These dynamics, based on commercial real estate analysis from WDSuite, suggest upside for operators who execute well on asset quality and marketing.
- Amenity-rich Aventura location supports leasing velocity and renewal potential.
- 1991 vintage offers value-add and modernization pathways to enhance competitiveness.
- Expanding 3-mile renter pool and household growth bolster long-term demand.
- High ownership costs sustain multifamily reliance, aiding pricing power for quality units.
- Risks: softer neighborhood housing occupancy and rent-to-income pressure require proactive leasing and retention strategies.