| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 85th | Best |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2660 SW 37th Ave, Coconut Grove, FL, 33133, US |
| Region / Metro | Coconut Grove |
| Year of Construction | 1994 |
| Units | 92 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2660 SW 37th Ave, Coconut Grove Multifamily Opportunity
Positioned in an Urban Core pocket of Miami-Dade with deep renter demand and high-cost ownership dynamics, this 92-unit asset benefits from amenity density and an affluent tenant base, according to WDSuite’s CRE market data.
Coconut Grove’s Urban Core location offers strong livability markers for multifamily: abundant restaurants, parks, pharmacies, and childcare options place the neighborhood in the top quartile among 449 Miami–Miami Beach–Kendall neighborhoods, with national amenity percentiles frequently in the high 80s to 90s. For investors, this supports leasing velocity and retention through lifestyle convenience rather than discretionary destination appeal.
Neighborhood-level renter concentration is substantial (roughly half of housing units are renter-occupied), placing the area above the metro median for rental tenure and signaling a broad tenant base for professionally managed assets. At the same time, neighborhood occupancy rates track below national norms, so underwriting should account for competitive positioning and active leasing management to sustain stabilization.
Within a 3-mile radius, households have expanded even as average household size trends lower, and forecasts indicate further household growth with smaller sizes over the next five years. This points to a larger pool of households — and by extension more potential renters — supporting occupancy stability. Income levels in the immediate area are comparatively elevated and rising, which can help sustain effective rents, while high home values locally indicate a high-cost ownership market that tends to reinforce reliance on multifamily housing.
Relative to the metro, the neighborhood’s average construction vintage skews older than this asset, which can help a 1994 property compete against nearby stock, though investors should still plan for targeted system updates and modernization to defend rent positioning over time.
Safety indicators are mixed. The neighborhood sits around the middle of the metro pack based on rank among 449 Miami–Miami Beach–Kendall neighborhoods, and its national safety percentile is below the national midpoint. However, estimated property crime has improved year over year, while violent crime levels remain comparatively modest but show some recent upward movement. Investors should view this as a generally urban risk profile with signs of improvement in property offenses and monitor trendlines during hold.
Proximity to major corporate offices expands the white-collar renter pool and supports retention through commute convenience. Notable nearby employers include Lennar, World Fuel Services, Mosaic, Johnson & Johnson, and Ryder System.
- Lennar — homebuilding HQ (7.6 miles) — HQ
- World Fuel Services — energy & logistics HQ (7.9 miles) — HQ
- Mosaic — chemicals & materials offices (9.5 miles)
- Johnson & Johnson — healthcare & consumer offices (11.5 miles)
- Ryder System — transportation & logistics HQ (11.9 miles) — HQ
This 92-unit asset, built in 1994, offers scale in a high-amenity, high-income Miami-Dade enclave where ownership costs are elevated and renter concentration is above the metro median — conditions that reinforce a deep tenant base. Neighborhood occupancy trends trail national levels, but amenity density and income strength support leasing durability, while the property’s relatively newer vintage versus area averages can provide competitive positioning with targeted modernization.
Population is expected to grow and households to expand within a 3-mile radius over the next five years, with smaller average household sizes indicating more households entering the market — a positive for renter pool expansion and occupancy stability. According to CRE market data from WDSuite, local amenity rankings sit in the top tier metro-wide, and home values rank among the nation’s higher-cost markets, which typically sustains multifamily demand and pricing power when paired with strong incomes.
- 1994 vintage offers relative competitiveness versus older neighborhood stock with room for strategic upgrades
- High-amenity, affluent Urban Core location supports leasing velocity and retention
- 3-mile household growth and smaller household sizes indicate a larger tenant base over time
- Elevated ownership costs locally reinforce reliance on multifamily housing
- Risk: neighborhood occupancy lags national norms; proactive leasing and ongoing CapEx planning are important