| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 29th | Poor |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1871 W 62nd St, Hialeah, FL, 33012, US |
| Region / Metro | Hialeah |
| Year of Construction | 1972 |
| Units | 100 |
| Transaction Date | 2008-06-30 |
| Transaction Price | $9,450,000 |
| Buyer | 1871 HIALEAH HOLDINGS LLC |
| Seller | PAN AMERICAN COLLECTIONS & APTS INC |
1871 W 62nd St Hialeah Multifamily Investment
Neighborhood occupancy is elevated with strong daily-needs access, supporting renter demand and lease stability in Miami-Dade, according to WDSuite’s CRE market data. While demand is durable, investors should plan for affordability management given local rent-to-income dynamics.
Located in Hialeah’s Urban Core, the neighborhood scores A- overall and ranks 95 out of 449 metro neighborhoods, placing it in the competitive tier within the Miami-Miami Beach-Kendall area. Amenity access is a clear strength — the area sits in the top quartile nationally for overall amenities, with cafes, childcare, parks, pharmacies, and grocery options concentrated at levels that are well above national norms. This convenience profile tends to aid retention and supports steady leasing for workforce-oriented assets.
Renter demand is reinforced by a high neighborhood occupancy rate of 97.5%. The share of housing units that are renter-occupied is 42.2%, indicating a sizable tenant base without being exclusively renter-heavy; together these conditions typically support occupancy stability and consistent renewal activity. Median contract rents in the neighborhood sit above the national middle, while home values reflect a high-cost ownership market relative to local incomes — dynamics that generally sustain reliance on multifamily housing and bolster the pool of renters.
Within a 3-mile radius, households have grown over the past five years and are projected to expand further even as population trends modestly contract, pointing to smaller average household sizes and a broader renter pool. Forecasts through 2028 indicate additional increases in household counts and incomes alongside rising asking rents, which, if realized, would expand the tenant base and support rent growth while requiring careful leasing and renewal strategies to manage affordability pressure. Based on commercial real estate analysis from WDSuite, these local dynamics compare favorably against national trends for amenities and occupancy, though they warrant disciplined underwriting on rent-to-income levels.
Schools rate below national averages, which may temper appeal for some family renters, but transit-convenient, daily-needs access and proximity to major employment nodes within Miami-Dade offset some of that weakness for many renter cohorts. For investors, the mix suggests reliable day-to-day demand drivers with upside tied to operations and unit positioning rather than outsized market appreciation assumptions.
Safety outcomes are mixed relative to broader benchmarks. Compared with neighborhoods nationwide, this area sits below the national middle on safety measures (violent and property offense rates are around the lower national percentiles), and within the Miami metro it falls below the median when ranked among 449 neighborhoods. Recent data also show a modest year-over-year uptick in estimated property offenses. Investors should underwrite with standard risk controls — lighting, access management, and resident engagement — and lean on professional security vendor assessments when appropriate.
Contextually, the neighborhood’s strong amenity presence and high occupancy support active foot traffic and daytime activity, which can aid perceived safety over time. Positioning a property with routine maintenance and visibility measures can help maintain leasing momentum despite mid-tier crime rankings.
Proximity to established corporate offices provides a diversified employment base that supports workforce renter demand and commute convenience. Notable nearby employers include Johnson & Johnson, Ryder System, World Fuel Services, Lennar, and Mosaic.
- Johnson & Johnson — corporate offices (2.2 miles)
- Ryder System — corporate offices (4.0 miles) — HQ
- World Fuel Services — corporate offices (5.2 miles) — HQ
- Lennar — corporate offices (7.8 miles) — HQ
- Mosaic — corporate offices (13.3 miles)
This 100-unit asset sits in a neighborhood with high occupancy, strong amenity density, and a balanced renter concentration that supports depth of demand. Within a 3-mile radius, household counts have risen historically and are projected to grow further alongside increases in incomes and asking rents, suggesting a larger tenant base and sustained leasing velocity. According to CRE market data from WDSuite, neighborhood rents and ownership costs trend above national medians, reinforcing renter reliance on multifamily housing and supporting pricing power for well-managed properties.
Underwriting should account for rent-to-income affordability pressure and below-average school ratings, which can affect certain renter segments. Still, proximity to diverse corporate employers and daily-needs retail, combined with metro-scale momentum in Miami-Dade, position the asset for durable occupancy with operational upside through targeted renovations and resident retention strategies.
- High neighborhood occupancy and strong amenity access support stable leasing
- Growing household counts within 3 miles point to a larger tenant base
- Elevated ownership costs sustain multifamily demand and renewal potential
- Employer proximity across logistics, energy, and homebuilding supports workforce demand
- Risks: affordability pressure (high rent-to-income), below-average school ratings, and mid-tier safety rankings