| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 48th | Good |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19050 NW 57th Ave, Hialeah, FL, 33015, US |
| Region / Metro | Hialeah |
| Year of Construction | 1990 |
| Units | 32 |
| Transaction Date | 2006-01-18 |
| Transaction Price | $23,073,000 |
| Buyer | PALM GARDENS RENTAL APT LLC |
| Seller | VERANDAH NORTH 220 LLC |
19050 NW 57th Ave Hialeah Multifamily Investment
The surrounding neighborhood shows steady renter demand and above-metro-median occupancy, according to WDSuite’s CRE market data. For investors, that points to durable leasing potential supported by a deep renter base rather than one-time drivers.
Located in Miami-Dade’s Hialeah area, the property sits in an Urban Core neighborhood where apartment occupancy is strong at the neighborhood level and ranks above the metro median among 449 Miami-area neighborhoods. A high share of housing units are renter-occupied (top tier nationally), which usually translates into a larger tenant pool and supports leasing stability through cycles.
Within a 3-mile radius, households have expanded meaningfully in recent years and are projected to keep growing, even as average household size trends lower. This combination typically broadens the renter pool and can support occupancy stability and absorption for midsized assets like this 32-unit community.
Local amenities are mixed. Neighborhood-level data show limited on-block cafes, groceries, and parks compared to the metro, but pharmacy access is notably dense (upper national percentiles). For investors, that suggests daily conveniences are accessible, while lifestyle amenities may rely more on short drives to adjacent corridors.
Home values in the immediate area are relatively moderate by national standards, and neighborhood rents sit in the mid-$1,500s. Rent-to-income readings indicate some affordability pressure in the area, which calls for disciplined lease management and renewal strategies but can also sustain demand for rental housing where ownership costs and down payment hurdles keep many households in the renter pool.
Neighborhood safety trends are mixed when viewed against different benchmarks. Relative to the Miami metro’s 449 neighborhoods, crime sits in a less favorable half, while national comparisons land closer to the middle of the pack. Importantly, WDSuite data indicate year-over-year declines in both violent and property incidents, signaling an improving trend to monitor rather than a static risk profile.
Investors should underwrite with standard urban-core assumptions and track whether recent improvement persists, using on-the-ground diligence to validate block-by-block conditions beyond the neighborhood aggregates.
Nearby corporate employment anchors span healthcare and consumer products, logistics, energy, homebuilding, and industrial materials. These employers support a broad commuter base that can reinforce renter demand and retention for workforce-oriented apartments.
- Johnson & Johnson — healthcare & consumer products offices (2.9 miles)
- Ryder System — logistics (7.8 miles) — HQ
- World Fuel Services — energy distribution (10.1 miles) — HQ
- Lennar — homebuilding (12.6 miles) — HQ
- Mosaic — fertilizer & chemicals offices (14.2 miles)
This 32-unit asset benefits from a neighborhood with above-metro-median occupancy and one of the higher renter-occupied housing shares nationally, pointing to a deep tenant base and durable leasing. Within a 3-mile radius, household counts have risen and are projected to grow further alongside rising incomes, which supports renter pool expansion and rentability even as household sizes edge down.
According to CRE market data from WDSuite, local rents are in the mid-market range for Miami-Dade, while ownership remains a higher-commitment alternative for many households. That dynamic can sustain rental demand; however, rent-to-income levels suggest investors should emphasize renewal management and value-focused amenity upgrades to maintain retention and pricing power over time.
- Above-metro-median neighborhood occupancy supports leasing stability
- High renter-occupied share indicates a deep tenant base
- 3-mile household growth and rising incomes bolster long-run demand
- Mid-market rents with room for value-focused upgrades
- Risk: affordability pressure requires disciplined renewals and expense control