| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 85th | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 22 Salamanca Ave, Coral Gables, FL, 33134, US |
| Region / Metro | Coral Gables |
| Year of Construction | 1972 |
| Units | 42 |
| Transaction Date | 2006-03-21 |
| Transaction Price | $8,700,000 |
| Buyer | GABLES CORINTHIAN PLAZA LLC |
| Seller | RAMSGATE N V INC |
22 Salamanca Ave Coral Gables Multifamily Investment
Amenity-rich Urban Core location with durable renter demand and high-cost ownership dynamics, according to WDSuite’s CRE market data, supporting pricing power and lease retention.
Located in Coral Gables’ Urban Core, the property sits within a top-tier neighborhood environment (A+ rating) characterized by abundant daily amenities and strong schools. Cafes, restaurants, parks, groceries, and pharmacies all index in the top national percentiles, and the average school rating is competitive nationally, helping sustain renter appeal for professionals and households seeking convenience.
Neighborhood renter-occupied share is high (about 60%), indicating a deep tenant base for multifamily investors. While neighborhood occupancy (not the property) trends below the national median, it has improved over the past five years, pointing to steadier fundamentals relative to earlier periods, based on WDSuite’s commercial real estate analysis.
Within a 3-mile radius, households grew even as population edged down, and projections indicate continued household expansion alongside smaller average household size. For investors, this suggests a larger renter pool and more one- and two-person households entering the market, which can support occupancy stability and absorption of well-located units.
Ownership costs in the area are elevated versus local incomes, placing the neighborhood in a high-cost ownership market. That dynamic generally reinforces reliance on rental housing and supports lease retention and pricing power for competitive, well-maintained product.
Safety metrics compare favorably at the national level, with the neighborhood trending above average nationwide. Recent year-over-year data indicate notable declines in estimated violent and property offense rates, which supports renter confidence and longer tenancy, according to CRE market data from WDSuite.
Investors should continue to monitor neighborhood trends rather than block-level signals; the most recent readings show momentum moving in a positive direction, which can contribute to leasing stability and renewal propensity over time.
Proximity to major corporate employers supports commuter convenience and a steady renter pipeline, led by energy, homebuilding, healthcare, and logistics offices within roughly 7–11 miles.
- World Fuel Services — energy services (7.1 miles) — HQ
- Lennar — homebuilding (7.2 miles) — HQ
- Mosaic — corporate offices (9.1 miles)
- Johnson & Johnson — healthcare (10.3 miles)
- Ryder System — logistics (11.0 miles) — HQ
Built in 1972, this 42-unit asset offers value-add and modernization potential relative to a neighborhood stock that skews newer. The location’s top-tier amenity access, strong schools, and high-cost ownership backdrop underpin durable rental demand and support for rent growth where renovations enhance competitive positioning. According to CRE market data from WDSuite, the surrounding neighborhood shows improving occupancy dynamics and a high share of renter-occupied housing, suggesting depth in the tenant base.
Within a 3-mile radius, household counts are rising and are projected to continue increasing as average household size trends lower, expanding the renter pool for appropriately sized units. Together, these factors point to solid long-term fundamentals, with execution hinging on capital planning to address vintage and align finishes with renter expectations in Coral Gables’ Urban Core.
- Amenity-rich, school-strong location that supports absorption and renewals.
- High renter-occupied share indicates a deep tenant base and demand stability.
- Value-add upside from 1972 vintage via renovations and systems upgrades.
- Household growth and smaller household sizes expand the renter pool within 3 miles.
- Risk: Neighborhood occupancy trends sit below national median; performance relies on execution and competitive positioning.