| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 31st | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6425 W 24th Ave, Hialeah, FL, 33016, US |
| Region / Metro | Hialeah |
| Year of Construction | 1988 |
| Units | 33 |
| Transaction Date | 2005-12-29 |
| Transaction Price | $6,390,000 |
| Buyer | HIALEAH APARTMENTS INVESTMENTS LLC |
| Seller | AMANDA PALMS LLC |
6425 W 24th Ave Hialeah Multifamily Investment
Neighborhood occupancy remains firm with a sizable renter-occupied share, supporting stable leasing dynamics according to WDSuite’s CRE market data. Positioning in Miami-Dade’s urban core provides durable renter demand and potential pricing resilience.
Situated in Hialeah’s Urban Core, the property benefits from a renter-driven neighborhood profile and steady occupancy. The neighborhood’s occupancy rate sits in the top quartile nationally, and the renter-occupied share indicates depth in the tenant base for small and mid-size multifamily assets. Median asking rents have trended higher over the past five years, reinforcing income durability for stabilized operations.
Amenity access is strong for daily convenience. Cafes, restaurants, childcare, and pharmacies rank in high national percentiles, while parks and grocery options are comparatively limited. For leasing, this mix typically favors residents prioritizing commute convenience and services, with some trade-off for green space and full-service grocers.
Within a 3-mile radius, households increased over the last five years and are projected to expand materially through 2028, even as total population edges lower. This points to smaller household sizes and a broader pool of individual households, supporting multifamily demand and occupancy stability. As incomes rise in the 3-mile area, rent levels appear sustainable, though attentive lease management around affordability will matter.
Vintage context: the asset’s 1988 construction is slightly newer than the neighborhood’s early-1980s average. That positioning can provide a competitive edge versus older stock, with potential to unlock value through targeted modernization of interiors and major systems as they age.
Relative standing: the neighborhood carries a B rating and ranks 198 out of 449 Miami–Miami Beach–Kendall neighborhoods, placing it above the metro median. Housing and amenity indicators track above national midpoints, while demographic scores trail broader benchmarks; together, these signals suggest competitive leasing fundamentals with selective exposure to demand variability based on household composition and incomes. This assessment is grounded in commercial real estate analysis from WDSuite.
Safety indicators are mixed. The neighborhood sits near the metro median among 449 Miami–Miami Beach–Kendall neighborhoods. Compared with national benchmarks, violent-offense safety is below average, while property-offense levels are closer to the national middle. Notably, estimated property-offense rates declined year over year, a constructive directional signal for underwriting operating risk.
For investors, practical steps such as lighting, access control, and ongoing monitoring of local trends can support retention and reduce non-revenue losses over time.
Nearby corporate offices provide a diverse employment base and commute convenience that can support renter demand and lease retention. Employers within a practical drive include Johnson & Johnson, Ryder System, World Fuel Services, and Lennar.
- Johnson & Johnson — corporate offices (2.6 miles)
- Ryder System — corporate offices (3.5 miles) — HQ
- World Fuel Services — corporate offices (5.1 miles) — HQ
- Lennar — corporate offices (7.6 miles) — HQ
This 33-unit asset in Hialeah is positioned for steady operations given the neighborhood’s top-quartile occupancy, strong renter concentration, and proximity to major employment nodes. According to CRE market data from WDSuite, amenity density for daily needs is a relative strength, while limited park and grocery access should be considered in tenant profiling and marketing. The 1988 vintage is slightly newer than the area’s average, supporting competitive positioning with potential to capture measured value-add through interior and system updates.
Forward demand signals are constructive: within a 3-mile radius, household counts have grown and are projected to expand through 2028, pointing to a broader tenant base even as the overall population trends slightly lower. Affordability pressure is the key watch item; disciplined renewal strategies and unit-level positioning can help balance pricing power with retention.
- Occupancy stability and sizable renter-occupied share support durable cash flow potential.
- 1988 construction offers competitive positioning with targeted renovation and system-upgrade upside.
- High-density daily amenities and proximity to multiple corporate offices reinforce leasing and retention.
- Household growth within 3 miles expands the tenant base despite softer population trends.
- Risk: elevated rent-to-income pressures and limited park/grocery access warrant conservative underwriting and focused lease management.