| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 31st | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2316 W 56th St, Hialeah, FL, 33016, US |
| Region / Metro | Hialeah |
| Year of Construction | 1990 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | $830,000 |
| Buyer | GARCIA CARMELO |
| Seller | GARCIA MARTINEZ FERNANDO J |
2316 W 56th St, Hialeah Multifamily Opportunity
Neighborhood occupancy appears stable and renter demand is resilient, according to WDSuite’s CRE market data, which evaluates conditions around the property rather than the building itself.
Set in Hialeah’s Urban Core, the surrounding neighborhood carries a B rating and ranks 198 out of 449 Miami-area neighborhoods, indicating competitive positioning within the metro. Amenity access is above national norms overall; cafes, pharmacies, and restaurants index in the top quartile nationally, while groceries and park space are more limited nearby—an important consideration for resident convenience and retention.
Neighborhood occupancy is strong (ranked 180 of 449, competitive among Miami neighborhoods), suggesting steady leasing fundamentals. The share of housing units that are renter-occupied is near 59%, signaling a deep tenant base that supports demand for multifamily product. Median contract rents sit above national norms but are more mid-pack within the metro, aligning with balanced pricing power rather than outlier premiums.
Within a 3-mile radius, household counts have grown and are projected to continue increasing, even as average household size trends lower—expanding the renter pool and supporting occupancy stability. Although population has edged down over the past five years, the increase in households points to smaller household composition patterns that typically favor apartment demand.
Ownership costs in the area are relatively elevated versus incomes by national comparison, which tends to reinforce reliance on rental housing and can aid lease retention. The property’s 1990 vintage is newer than the neighborhood’s early-1980s average stock, supporting competitive positioning against older assets, though targeted modernization of select systems or finishes may still be warranted for the next hold period.
Safety indicators for the neighborhood track close to the Miami metro median (ranked 215 of 449), with national comparisons landing below the midpoint overall. Property offenses have eased recently, with improvement trends placing the area above average nationally for decline, while violent offense metrics compare less favorably to national benchmarks. For investors, the read-through is a mixed but manageable risk profile that warrants standard operating diligence and resident-experience practices.
The location sits near a diversified employment base of corporate offices in logistics, energy services, healthcare-related operations, and homebuilding—drivers that can support workforce housing demand and commute convenience for residents. The list below reflects nearby employers most relevant to renter demand.
- Johnson & Johnson — corporate offices (2.9 miles)
- Ryder System — logistics (3.5 miles) — HQ
- World Fuel Services — energy services (4.6 miles) — HQ
- Lennar — homebuilding (7.1 miles) — HQ
- Mosaic — corporate offices (13.6 miles)
2316 W 56th St offers a 20-unit footprint with average unit sizes around 916 square feet, positioned in a neighborhood that shows high occupancy and solid renter depth. According to CRE market data from WDSuite, neighborhood occupancy is elevated versus national norms and the renter-occupied share is substantial, supporting steady leasing. The 1990 construction is newer than nearby average stock from the early 1980s, offering a relative competitive edge with potential to capture additional value through selective upgrades rather than full-scale repositioning.
Within a 3-mile radius, households have increased and are projected to expand further as average household size declines—factors that typically grow the tenant base and support occupancy stability. While ownership costs are comparatively high versus incomes on a national scale, which can sustain rental demand, affordability pressure for renters warrants proactive lease management. Proximity to notable employers further underpins retention and leasing velocity.
- High neighborhood occupancy and meaningful renter concentration support stable leasing
- 1990 vintage is newer than local averages, with value-add potential through focused modernization
- Household growth and smaller household sizes within 3 miles expand the tenant base
- Nearby corporate employers provide a diversified demand engine and commute convenience
- Risk: elevated rent-to-income and limited groceries/parks nearby call for careful pricing and resident experience