| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 91st | Best |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4251 Salzedo St, Coral Gables, FL, 33146, US |
| Region / Metro | Coral Gables |
| Year of Construction | 2003 |
| Units | 120 |
| Transaction Date | 2012-08-01 |
| Transaction Price | $52,250,000 |
| Buyer | TIAA-CREF |
| Seller | Merrick Park Apartments Inc |
4251 Salzedo St Coral Gables Multifamily Investment
Positioned in an Inner Suburb pocket of Coral Gables, this 120-unit asset benefits from a high-cost ownership market and steady renter demand, according to WDSuite’s CRE market data. Expect durable leasing from affluent households, with pricing power tied to location fundamentals rather than concessions-driven absorption.
Coral Gables’ neighborhood fundamentals are competitive, with the area ranking 38 out of 449 metro neighborhoods—placing it in the top quartile among Miami-Miami Beach-Kendall submarkets by overall rating, based on CRE market data from WDSuite. The local housing context is also strong (above the metro median), supported by elevated household incomes and a high-cost ownership environment that tends to sustain multifamily demand and lease retention.
Daily-life amenities lean practical: grocery access is strong relative to the metro, and there is meaningful childcare density, while cafes, parks, and pharmacies are less concentrated immediately nearby. Restaurant density is notably high, which supports lifestyle appeal for residents and helps marketing across larger unit sizes. School ratings are not available in this dataset; investors should underwrite to district norms and tenant preferences.
Tenure data indicates a substantial renter-occupied share at the neighborhood level (competitive among Miami-Miami Beach-Kendall neighborhoods), which points to a deep tenant base for multifamily operators. However, the neighborhood’s occupancy metric tracks below metro norms, suggesting investors should plan for active leasing and disciplined renewal management to maintain stabilization.
Within a 3-mile radius, demographics show a modest population contraction in the prior period alongside growth in household counts, signaling smaller household sizes and continued demand for rental housing. Forward-looking data indicates population growth and a pronounced increase in households, which expands the renter pool and supports occupancy stability over time. Elevated home values in the neighborhood context reinforce reliance on multifamily options, while rent-to-income levels suggest manageable affordability pressure and room for measured rent optimization.
Vintage considerations: the property was built in 2003, slightly older than the neighborhood’s average construction year. Investors should anticipate targeted modernization and system updates to sharpen competitive positioning against newer stock while leveraging location-driven demand.
Safety signals are mixed but generally favorable in a broader context. Compared with U.S. neighborhoods, this area sits in a higher national safety percentile, and recent trends show violent offenses declining sharply year over year. Within the Miami-Miami Beach-Kendall metro, the neighborhood’s crime rank places it among areas with comparatively higher reported incidents (rank 14 out of 449), so property-level security, lighting, and access controls remain important levers for retention and leasing.
In short, national benchmarks indicate comparatively safer conditions than many U.S. neighborhoods, while metro-relative positioning suggests investors should continue standard risk management and tenant-experience practices to support renewals and leasing velocity.
Proximity to corporate employers supports a diversified white-collar renter base and commute convenience, with nearby headquarters and offices in homebuilding, energy, healthcare, and logistics that can aid leasing stability.
- Lennar — homebuilding HQ (7.5 miles) — HQ
- World Fuel Services — energy & logistics HQ (8.0 miles) — HQ
- Mosaic — chemicals & agriculture offices (10.1 miles)
- Johnson & Johnson — healthcare & consumer products offices (12.0 miles)
- Ryder System — transportation & logistics HQ (12.2 miles) — HQ
4251 Salzedo St offers scale (120 units) in an Inner Suburb location where high home values and elevated incomes underpin durable renter demand. Neighborhood performance ranks in the top quartile among 449 metro neighborhoods, and national benchmarking points to strong positioning for income generation. While neighborhood occupancy trends run below metro norms, the local renter-occupied share indicates a deep tenant base; operators who focus on renewal management and targeted concessions can balance absorption with pricing discipline, according to CRE market data from WDSuite.
Built in 2003, the asset may benefit from selective modernization to compete against newer deliveries in a submarket where the average vintage skews slightly newer. Within a 3-mile radius, recent household growth alongside smaller household sizes and a projected increase in both population and households expand the renter pool, supporting long-term leasing and retention. Elevated ownership costs in the immediate neighborhood context further reinforce reliance on multifamily housing, aiding revenue stability over time.
- Location fundamentals: top-quartile neighborhood performance with strong income and high-cost ownership supporting rental demand
- Demand depth: substantial renter-occupied presence and white-collar employment nodes within a short drive
- Value-add path: 2003 vintage offers scope for targeted updates to enhance competitive positioning
- Forward tailwinds: 3-mile forecasts indicate population and household growth, supporting leasing and retention
- Risk to underwrite: below-metro neighborhood occupancy suggests active lease-up strategy and renewal discipline are essential