| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 83rd | Best |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10250 Collins Ave, Bal Harbour, FL, 33154, US |
| Region / Metro | Bal Harbour |
| Year of Construction | 1981 |
| Units | 24 |
| Transaction Date | 2017-07-14 |
| Transaction Price | $18,000,000 |
| Buyer | BEACH HAUS BAL HARBOUR LLC |
| Seller | BAL HARBOUR QUARZO LLC |
10250 Collins Ave Bal Harbour Multifamily Opportunity
In a high-cost ownership pocket of Miami-Dade, renter demand is supported by strong incomes and amenity access, according to WDSuite’s CRE market data. The location’s lifestyle appeal and growing 3-mile renter pool point to durable leasing fundamentals for well-positioned assets.
Bal Harbour sits within the Miami-Miami Beach-Kendall metro and scores in the top quartile among 449 metro neighborhoods for overall neighborhood rating, per WDSuite. Dining density is a local strength, with restaurants and cafes concentrated at levels that are competitive nationally, while parks per square mile rank near the top of the national distribution—favorable for resident retention and lease appeal.
Demographic statistics aggregated within a 3-mile radius show modest population growth recently with a larger increase in households projected over the next five years. That trajectory, combined with a renter-occupied share just over half of housing units, supports a deeper tenant base and ongoing demand for multifamily units. Incomes in the 3-mile area have been rising, which can underpin rent levels and limit downside to occupancy when managed with prudent lease strategies.
Ownership remains expensive relative to incomes in this coastal submarket, reinforcing renter reliance on multifamily housing and benefiting lease retention. At the same time, rent-to-income ratios suggest pockets of affordability pressure; operators may need to balance pricing power with renewal management to sustain stability.
The property’s 1981 vintage is slightly older than the neighborhood’s average construction year. Investors may find value-add potential through targeted modernization of interiors, common areas, and building systems to enhance competitiveness against newer coastal stock.
Safety indicators are mixed when viewed against wider benchmarks. The neighborhood sits around the middle of the pack within the Miami metro (449 neighborhoods) and below the national median for safety, based on WDSuite. Property-related incidents have eased year over year, while violent incident measures show recent increases—underscoring the importance of standard security, lighting, and access controls for resident confidence.
Proximity to diversified corporate employers across services, energy, and homebuilding supports commuter convenience and broad renter demand in this submarket.
- Mosaic — corporate offices (5.9 miles)
- Johnson & Johnson — corporate offices (10.7 miles)
- AutoNation — corporate offices (15.4 miles) — HQ
- World Fuel Services — energy & logistics (15.5 miles) — HQ
- Ryder System — transportation & logistics (16.3 miles) — HQ
This 24-unit asset benefits from Bal Harbour’s coastal fundamentals: high amenity access, strong household incomes, and an ownership market where elevated home values tend to sustain renter demand. Based on commercial real estate analysis from WDSuite, the neighborhood rates among the stronger cohorts in the Miami metro, while a growing 3-mile renter pool and projected household gains point to a larger tenant base and support for occupancy stability.
Built in 1981, the property offers value-add potential through modernization to compete with newer coastal inventory. Investors should weigh pricing strategy carefully: incomes are rising, but rent-to-income signals suggest selective affordability pressure—making renewal management and unit mix optimization important to preserving retention and cash flow durability.
- Coastal location with nationally competitive dining and park access supporting resident appeal
- Expanding 3-mile renter pool and projected household growth support leasing depth
- Older 1981 vintage presents actionable value-add and system modernization upside
- High-cost ownership market reinforces rental reliance and potential pricing power
- Risks: affordability pressure and mixed safety trends require prudent lease and asset management