| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 31st | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1355 W 44th Pl, Hialeah, FL, 33012, US |
| Region / Metro | Hialeah |
| Year of Construction | 1973 |
| Units | 90 |
| Transaction Date | 2021-08-18 |
| Transaction Price | $16,250,000 |
| Buyer | LAS TERRAZAS LLC |
| Seller | BELLA VISTA HIALEAH APARTMENTS LLC |
1355 W 44th Pl Hialeah Multifamily Investment
Neighborhood fundamentals point to resilient renter demand and high occupancy, according to WDSuite’s CRE market data. Investors should weigh strong location utilities against local affordability pressure when underwriting.
Located in Hialeah’s urban core, the surrounding neighborhood shows durable renter demand and day-to-day convenience that supports leasing stability. Neighborhood occupancy is elevated relative to many U.S. areas, with renter-occupied housing making up a majority of units, indicating a deep tenant base for multifamily. Based on CRE market data from WDSuite, amenity access is a local strength: restaurants, groceries, parks, cafes, and childcare options all benchmark in the upper percentiles nationally, reducing friction for residents and aiding retention.
Schools in the area average moderate ratings, which can appeal to value-driven households but may limit rent premiums compared with top-rated school districts. The ownership market is high-cost relative to local incomes (value-to-income ranks in the upper national percentiles), which tends to sustain reliance on rental housing and supports occupancy stability for well-managed assets. Median neighborhood rents price above the national midpoint, so operators should pair pricing strategy with active lease management to maintain velocity.
Demographic statistics are aggregated within a 3-mile radius. Over the past five years, household counts increased even as total population edged lower, signaling smaller household sizes and a steady expansion of the renter pool. Forward-looking projections indicate additional household growth and higher incomes through the forecast period, which can translate into a larger tenant base and measured rent headroom for properties that deliver quality and convenience.
The property’s 1973 vintage is older than the neighborhood average year built, suggesting near- to medium-term capital planning for systems and common areas. For investors, that can create value-add or renovation pathways to differentiate the asset versus older stock while aligning with renter expectations in a highly occupied submarket.
Safety indicators for the neighborhood are mixed. Compared with neighborhoods nationwide, the area sits below the national median for safety. Within the Miami–Miami Beach–Kendall metro, its rank places it above the metro median among 449 neighborhoods, making it competitive locally. Recent estimates show year-over-year increases in both violent and property offense rates, so underwriting should account for trend monitoring and standard security measures typical for urban-core assets.
Nearby employers create a broad white-collar and services employment base that supports renter demand and commute convenience for residents, including Johnson & Johnson, World Fuel Services, Ryder System, Lennar, and Mosaic.
- Johnson & Johnson — healthcare & consumer products offices (2.9 miles)
- World Fuel Services — energy services (4.5 miles) — HQ
- Ryder System — logistics & transportation (4.7 miles) — HQ
- Lennar — homebuilding (7.0 miles) — HQ
- Mosaic — chemicals & agriculture (12.2 miles)
This 90-unit, 1973-vintage asset sits in a high-utility urban core location where neighborhood occupancy is strong and the renter base is deep. According to commercial real estate analysis from WDSuite, local amenities benchmark in the upper national percentiles, reinforcing day-to-day livability and supporting lease retention. The ownership market skews high-cost relative to incomes, which typically sustains reliance on multifamily housing, but elevated rent-to-income levels call for disciplined revenue management.
The 3-mile demographic view shows households expanding despite modest population contraction, pointing to smaller household sizes and a broader tenant pool over time. For investors, the combination of stable neighborhood occupancy, strong amenity access, and potential value-add from an older vintage supports a long-term, operations-focused thesis, with attention to affordability pressure and standard urban safety monitoring.
- High neighborhood occupancy and majority renter-occupied housing support leasing stability
- Upper-percentile access to restaurants, groceries, parks, cafes, and childcare aids retention
- 1973 vintage offers value-add and modernization potential versus newer competitive stock
- 3-mile household growth and rising incomes expand the tenant base and pricing flexibility
- Risks: affordability pressure (high rent-to-income), mixed safety trends, and capex for older systems