| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 31st | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1350 W 46th St, Hialeah, FL, 33012, US |
| Region / Metro | Hialeah |
| Year of Construction | 1972 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | $4,123,500 |
| Buyer | SANCHEZ PROPERTIES INC |
| Seller | GAYNOR SHEILA Z KLINE DAVID J |
1350 W 46th St, Hialeah FL Multifamily Investment
Neighborhood occupancy has been strong and renter demand is supported by local amenities and a sizable renter-occupied base, according to WDSuite’s CRE market data. Expect stable lease-up dynamics with attention to affordability and value positioning within the Miami metro.
Located in Hialeah’s Urban Core, the property benefits from a renter-occupied share around half of neighborhood housing units (52.0% renter-occupied), indicating a deep tenant base for multifamily. The neighborhood’s occupancy ranks 72 out of 449 Miami metro neighborhoods, signaling comparatively steady absorption and renewal potential at the submarket level.
Amenity access is a local strength: restaurants and cafes per square mile rank 112 and 130 of 449, respectively, and grocery and park access also score competitively versus metro peers. School quality averages 3.0 out of 5 (61st national percentile), which is slightly above the national median and supportive for family-oriented renter demand.
Home values sit in a high-cost ownership context relative to local incomes (value-to-income ratio in the 96th percentile nationally). For investors, this tends to sustain reliance on rental housing and can support pricing power; however, rent-to-income ratios point to affordability pressure that may require disciplined lease management and renewal strategies.
Demographics within a 3-mile radius show households have grown alongside smaller average household sizes, with WDSuite data indicating further increases in household counts even as population is projected to edge down. A rising number of households with smaller sizes typically expands the renter pool, supporting occupancy stability for well-positioned units near daily needs.
The asset’s 1972 vintage is slightly older than the neighborhood’s average construction year (1979). This often points to value-add potential through targeted renovations and systems upgrades to remain competitive against newer stock while managing capital planning proactively.
Safety conditions in the immediate neighborhood track below the national median, with a crime rank of 332 out of 449 within the Miami metro, placing it in the lower tier locally. National percentiles indicate less favorable comparisons as well. Recent year-over-year changes in both violent and property offenses have shown increases, underscoring the importance of standard security measures, lighting, and tenant communication to support retention and operating continuity.
Investors should weigh these factors in underwriting, focusing on proven property-level controls and partnership with local resources. Comparable urban submarkets in major metros often balance similar dynamics with strong amenity access and renter demand, which this location demonstrates.
Nearby employers span healthcare, energy/logistics, transportation, homebuilding, and agriculture/chemicals, providing a diverse employment base that supports renter demand and commute convenience for workforce tenants.
- Johnson & Johnson — pharma and consumer health offices (2.9 miles)
- World Fuel Services — energy & logistics (4.6 miles) — HQ
- Ryder System — transportation & logistics (4.7 miles) — HQ
- Lennar — homebuilding (7.1 miles) — HQ
- Mosaic — agriculture & chemicals (12.2 miles)
This 74-unit, 1972-vintage asset in Hialeah benefits from a renter-oriented neighborhood with above-median occupancy performance versus the Miami metro and strong access to everyday amenities. Based on CRE market data from WDSuite, the area’s high-cost ownership landscape tends to sustain rental demand, while the renter-occupied share near half supports a durable tenant base. The property’s older vintage suggests value-add potential through targeted renovations to enhance competitiveness and capture rent premiums where supported by positioning.
Within a 3-mile radius, household growth alongside smaller household sizes points to a larger pool of renters over time, which can support occupancy stability. Underwriting should still account for affordability pressure and localized safety considerations, emphasizing unit mix, finish level, and operating practices that reinforce retention.
- Renter-oriented neighborhood with steady occupancy relative to the Miami metro
- Amenity access (food, groceries, parks) that supports day-to-day convenience and leasing
- High-cost ownership market reinforces rental demand and potential pricing power
- 1972 vintage offers value-add and systems-upgrade opportunities to drive NOI
- Risks: affordability pressure and below-median safety necessitate prudent lease and property management