| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 48th | Good |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18350 NW 62nd Ave, Hialeah, FL, 33015, US |
| Region / Metro | Hialeah |
| Year of Construction | 1999 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
18350 NW 62nd Ave Hialeah Multifamily Investment
Neighborhood occupancy is firm and renter demand is deep, according to WDSuite’s CRE market data, supporting stable leasing dynamics for a 48-unit asset in Miami-Dade’s Hialeah submarket.
This Urban Core neighborhood in Hialeah exhibits steady renter demand and occupancy. The neighborhood s occupancy rate is in the top quartile nationally, with a rank of 200 out of 449 metro neighborhoods, indicating relatively resilient lease-up and retention potential versus many U.S. areas.
Renter-occupied housing accounts for a large share of units locally (ranked 29 of 449), which is competitive among Miami-Miami Beach-Kendall neighborhoods and top quartile nationally. For multifamily investors, that renter concentration expands the tenant base and can support occupancy stability through cycles.
Amenity access within the immediate neighborhood skews limited (amenity rank 360 of 449, below the metro median), though pharmacies are a relative strength at a high national percentile. Investors should underwrite resident convenience via nearby corridors and employment nodes rather than on-block retail density.
Within a 3-mile radius, demographics point to an expanding renter pool over the forecast period. Household counts have grown in recent years and are projected to increase further while average household size trends lower, which typically supports demand for rental units and diversified unit mixes. Rising median incomes in the radius also reinforce the ability to sustain rent levels, while lease management should monitor affordability where rent-to-income ratios approach one-third.
The property s 1999 construction is newer than the neighborhood s average vintage (1991), offering relative competitiveness versus older stock; investors should still plan for system updates typical of assets reaching mid-life to maintain positioning and reduce future capex surprises.
Home values in the neighborhood are modest relative to many coastal markets, which can introduce some competition from ownership options; however, in practice this context often sustains reliance on multifamily housing, supporting pricing power where property quality and management execution are strong.
Safety metrics are mixed but improving. The neighborhood s crime rank sits at 131 out of 449 Miami-area neighborhoods, which is competitive among Miami neighborhoods, while national comparisons place the area around the middle of the pack. Recent year-over-year trends indicate declines in both property and violent offenses, a constructive signal investors can track over subsequent reporting periods.
Compared with neighborhoods nationwide, safety levels trend below the national median today, but improvement rates over the last year have outperformed many areas. Investors should incorporate conservative assumptions for security and common-area oversight while noting the directional progress.
The area draws from a diversified employment base spanning healthcare, logistics, energy, and homebuilding corporate offices, supporting workforce housing demand and commute convenience for renters. Notable nearby employers include Johnson & Johnson, Ryder System, World Fuel Services, Lennar, and Mosaic.
- Johnson & Johnson corporate offices (2.6 miles)
- Ryder System corporate offices (7.3 miles) HQ
- World Fuel Services corporate offices (9.6 miles) HQ
- Lennar corporate offices (12.2 miles) HQ
- Mosaic corporate offices (14.3 miles)
18350 NW 62nd Ave offers exposure to a renter-heavy Hialeah neighborhood with occupancy in the national top quartile and proximity to major employers. Based on commercial real estate analysis using WDSuite s datasets, the asset s 1999 vintage is newer than the local average, positioning it competitively versus older stock while warranting targeted modernization to preserve NOI and leasing velocity.
Within a 3-mile radius, recent growth in households alongside smaller average household size points to a larger tenant base over time, supporting rent durability. Income gains and projected rent growth in the radius further reinforce demand, though investors should underwrite affordability pressure and modest on-block amenity depth with prudent concessions and marketing assumptions.
- Renter-occupied housing share is competitive locally and top quartile nationally, supporting stable occupancy
- Neighborhood occupancy in the top quartile nationally points to resilient leasing conditions
- 1999 vintage offers relative competitiveness with value-add via targeted system upgrades
- Diversified nearby employers underpin workforce demand and retention
- Risks: below-metro amenity density, affordability pressure near one-third rent-to-income, and safety that trails national medians despite improving trends