| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 31st | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6151 W 24th Ave, Hialeah, FL, 33016, US |
| Region / Metro | Hialeah |
| Year of Construction | 1990 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6151 W 24th Ave Hialeah Multifamily Investment
Neighborhood fundamentals indicate steady renter demand and high occupancy, according to WDSuite’s CRE market data. Location and tenant depth support stable operations with potential for durable cash flow.
Situated in Hialeah’s Urban Core, the property benefits from an “Above metro median” neighborhood profile (ranked 198 out of 449 Miami–Miami Beach–Kendall neighborhoods) and a B rating, signaling balanced fundamentals for multifamily investors. The surrounding area shows a majority of housing units as renter-occupied at the neighborhood level, which supports leasing velocity and demand depth for smaller assets.
Amenity access skews toward daily conveniences and food service: the neighborhood is in the top national percentiles for restaurants, cafes, and pharmacies (mid‑90s percentiles), which tends to aid resident retention and day‑to‑day livability. By contrast, grocers and parks are sparse within the immediate area, so residents may rely on short drives for those needs. For investors, this mix suggests strong lifestyle convenience with pockets of service gaps that operators can address via resident services or partnerships.
Construction trends point to a slightly newer local stock on average (1980s vintage). With a 1990 build, this asset is newer than the neighborhood average (1983), offering relative competitiveness versus older properties while still warranting selective modernization for systems and finishes to support rentability.
Demographics within a 3‑mile radius show a nuanced demand picture: total population has edged down modestly in recent years, yet household counts increased and are projected to grow further alongside smaller average household sizes. This pattern typically expands the renter pool and supports occupancy stability, even as operators should calibrate lease management to affordability. Home values are elevated relative to local incomes (high national percentile for value‑to‑income), which helps sustain reliance on rental housing and supports pricing power when paired with well‑maintained product.
Safety indicators are mixed in a way typical of dense urban submarkets. The neighborhood sits near the middle of the Miami metro for crime (ranked 215 out of 449), and around the lower half nationally. Property offense levels track close to the national midpoint and have improved year over year, while violent offense measures are below national medians and have shown recent variability. Investors should underwrite to block‑level trends over time and focus on site lighting, access control, and partnerships with local patrols to support tenant retention.
Proximity to a diversified employment base supports workforce housing demand and commute convenience, notably in healthcare/pharma, logistics, energy services, and homebuilding. These employers can help stabilize leasing and reduce turnover through short, car‑based commutes.
- Johnson & Johnson — healthcare/pharma offices (2.7 miles)
- Ryder System — logistics & transportation (3.4 miles) — HQ
- World Fuel Services — energy services (4.9 miles) — HQ
- Lennar — homebuilding (7.5 miles) — HQ
This 26‑unit, 1990‑built asset aligns with renter demand patterns seen in Hialeah’s Urban Core: high neighborhood occupancy, a strong renter‑occupied share, and everyday amenity density that supports retention. The vintage is newer than the local average, offering relative competitiveness versus 1980s stock while leaving room for targeted value‑add to bolster leasing and rent positioning.
Within a 3‑mile radius, household counts have increased and are projected to expand further even as average household size trends smaller—factors that generally enlarge the tenant base and support occupancy stability. Elevated ownership costs relative to incomes reinforce reliance on multifamily, though rent‑to‑income levels warrant careful lease management and renewal strategies. Based on commercial real estate analysis from WDSuite, these dynamics point to steady demand with manageable risks tied to affordability and typical urban safety variability.
- Newer‑than‑area vintage (1990) provides competitive positioning with selective modernization upside
- High neighborhood occupancy and majority renter‑occupied housing support leasing stability
- Strong nearby amenities (restaurants, cafes, pharmacies) aid retention and renter appeal
- 3‑mile household growth and smaller household sizes expand the renter pool over time
- Risks: affordability pressure, limited nearby grocers/parks, and typical urban safety variability