| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 63rd | Best |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6290 NW 173rd St, Hialeah, FL, 33015, US |
| Region / Metro | Hialeah |
| Year of Construction | 1989 |
| Units | 39 |
| Transaction Date | 2018-08-30 |
| Transaction Price | $71,300,000 |
| Buyer | GEP XI MOORS LLC |
| Seller | CVII LATITUDES AT THE MOORS LLC |
6290 NW 173rd St Hialeah Multifamily Investment
Neighborhood fundamentals point to steady renter demand and occupancy stability, according to WDSuite’s CRE market data. An established 1989 vintage positions this 39-unit asset for practical value-add and modernization to compete with newer area stock.
Set within Hialeah s Urban Core, the surrounding neighborhood ranks 44 out of 449 metro neighborhoods (A-rated), placing it in the top quartile locally for overall performance. Renter-occupied housing has a high neighborhood concentration, supporting a deeper tenant base and more consistent multifamily leasing conditions relative to predominantly owner areas.
Daily conveniences are a strength: grocery, pharmacy, and cafe density each sit in very high national percentiles, and the amenity profile ranks 64 of 449 across the Miami-Miami Beach-Kendall metro — competitive and supportive of resident retention. Park access within the immediate neighborhood is limited, which investors should weigh against the otherwise robust retail and services mix when assessing livability and leasing narratives.
For rent and income dynamics, neighborhood median contract rents benchmark in a high national percentile while rent-to-income remains moderate, a combination that supports pricing power without materially elevating near-term retention risk. Home values sit near the national mid-range; in practice this indicates a high-cost ownership market within the metro context is not the primary constraint, and multifamily remains a more accessible option for many households—favorable for lease stability and renewal capture.
Demographics aggregated within a 3-mile radius show households and families expanding over the last five years even as average household size trended lower, implying a larger pool of households competing for rental options. Forward-looking projections indicate continued household growth alongside higher incomes, which typically supports occupancy stability and absorption for well-positioned assets. These patterns, paired with the area s amenity depth, form a constructive backdrop for multifamily property research.
Safety indicators for the neighborhood are mixed and should be contextualized against metro and national baselines. The area s crime rank sits in the lower half of the metro (ranked 280 out of 449 neighborhoods), which means safety outcomes trail stronger Miami-area submarkets. Nationally, the neighborhood compares below the midrange. Investors may want to underwrite to prudent security, lighting, and common-area controls commensurate with the submarket profile.
Trend direction offers nuance: recent estimates indicate a notable year-over-year decline in property offenses at the neighborhood level, while violent offenses ticked up over the same period. This mixed trajectory argues for continued monitoring rather than definitive conclusions, and for aligning operating practices with local conditions to support resident satisfaction and retention.
Proximity to a diversified employment base supports commute convenience and renter demand, including healthcare, logistics, and corporate headquarters exposure from Johnson & Johnson, Ryder System, World Fuel Services, Lennar, and Mosaic.
- Johnson & Johnson — corporate offices (1.9 miles)
- Ryder System — corporate offices (6.7 miles) — HQ
- World Fuel Services — corporate offices (8.9 miles) — HQ
- Lennar — corporate offices (11.5 miles) — HQ
- Mosaic — corporate offices (13.9 miles)
This 39-unit 1989 asset benefits from a top-quartile neighborhood within the Miami-Miami Beach-Kendall metro and a high concentration of renter-occupied housing units, reinforcing depth of tenant demand and supports for occupancy. According to CRE market data from WDSuite, neighborhood occupancy is strong and amenities are abundant, suggesting retention advantages for properties that execute well on operations and resident experience.
The vintage is older than the local average (2006), creating a clear value-add path through interior updates and targeted building system improvements to compete with newer supply. Within a 3-mile radius, households have expanded and are projected to grow further alongside rising incomes, pointing to a larger tenant base and sustained absorption prospects if pricing aligns with demonstrated rent-to-income levels.
- Top-quartile neighborhood rank (44 of 449) with strong amenity access supporting resident retention
- High neighborhood renter-occupied share indicates deeper tenant base and steadier leasing
- 1989 vintage offers tangible value-add and capex upside versus newer 2000s stock
- Household growth and income gains within 3 miles support occupancy stability and absorption
- Risks: below-median safety profile and limited park access warrant prudent underwriting and resident-experience investment