| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 21st | Poor |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 355 E 32nd St, Hialeah, FL, 33013, US |
| Region / Metro | Hialeah |
| Year of Construction | 2013 |
| Units | 35 |
| Transaction Date | 2011-09-23 |
| Transaction Price | $520,000 |
| Buyer | THE CITY OF HIALEAH |
| Seller | DEPARTMENT OF FLORIDA VETERANS OF FOREIG |
355 E 32nd St Hialeah Multifamily Investment
2013 construction offers competitive positioning versus older local stock, while neighborhood multifamily occupancy remains high according to WDSuite’s CRE market data. This commercial real estate analysis points to durable renter demand with measured upside and prudent risk management.
Situated in Hialeah’s Urban Core, the property benefits from a neighborhood that ranks above the metro median among 449 Miami-Miami Beach-Kendall neighborhoods (overall rating B). Neighborhood multifamily occupancy is strong and competitive among Miami submarkets, with levels in the top quartile nationally, supporting stable leasing conditions at the neighborhood level rather than the property specifically.
Local daily-needs access is a relative strength: grocery, pharmacy, childcare, and cafe density trend above national medians, which supports resident convenience and retention. Park access is limited in the immediate neighborhood, and average school ratings track below national norms, which investors should weigh when targeting family-oriented demand.
Renter demand fundamentals are supported by a meaningful renter-occupied presence and steady rent growth. Median asking rents in the neighborhood sit modestly above national medians and have risen over the past five years, indicating pricing power tempered by income sensitivity. Within a 3-mile radius, demographic statistics show households increasing even as population edges down, implying smaller household sizes and a broader tenant base to support occupancy stability.
Ownership costs in the neighborhood are elevated relative to incomes (high national percentile for value-to-income), which tends to reinforce reliance on multifamily housing and can aid lease retention. At the same time, a relatively high rent-to-income ratio calls for thoughtful lease management and amenity-value alignment to mitigate affordability pressure and turnover risk.
Safety indicators are mixed and should be evaluated comparatively. The neighborhood ranks below the metro median for safety (289 out of 449 Miami-area neighborhoods), and its overall safety positioning trends below the national midpoint. That said, recent data show a year-over-year decline in violent offense estimates, while property offenses saw an uptick, suggesting divergent near-term trends that merit monitoring.
For investors, this means underwriting should incorporate prudent security measures and operating protocols while recognizing that safety performance varies within the metro and can improve with sustained community investment and management practices.
Proximity to established corporate employers supports workforce housing demand and commute convenience for a broad tenant base, including healthcare, energy, logistics, and homebuilding—key sectors reflected below.
- Johnson & Johnson — healthcare products (3.8 miles)
- World Fuel Services — energy & logistics (5.7 miles) — HQ
- Ryder System — transportation & logistics (6.9 miles) — HQ
- Lennar — homebuilding (7.8 miles) — HQ
- Mosaic — corporate offices (9.9 miles)
Built in 2013, the property is newer than much of the surrounding housing stock, offering competitive finishes and systems relative to older assets while still allowing for targeted modernization over a long hold. At the neighborhood level, multifamily occupancy trends in the top quartile nationally and above metro medians, indicating demand depth that supports leasing stability, according to CRE market data from WDSuite.
Within a 3-mile radius, households are projected to grow even as population trends soften, pointing to smaller household sizes and a broader renter pool. Elevated home values relative to incomes in the neighborhood bolster reliance on rentals, while neighborhood rents sit modestly above national norms. Key considerations include affordability management (given higher rent-to-income readings), below-average school ratings, limited park access, and mixed but monitorable safety trends.
- 2013 vintage offers competitive positioning versus older local stock with selective value-add potential
- Neighborhood occupancy in the top quartile nationally supports leasing stability (neighborhood metric)
- Household growth within 3 miles expands the tenant base even as average household size declines
- Elevated ownership costs reinforce rental demand and can aid retention
- Risks: affordability pressure, below-average school ratings, limited parks, and mixed safety trends