| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 31st | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6545 W 24th Ave, Hialeah, FL, 33016, US |
| Region / Metro | Hialeah |
| Year of Construction | 1996 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | $5,056,900 |
| Buyer | HIALEAH HOUSING AUTHORITY |
| Seller | DESTINY BUILDERS INC |
6545 W 24th Ave, Hialeah FL Multifamily Investment
Neighborhood occupancy is around 96% and renter concentration is high, indicating a deep tenant base, according to WDSuite’s CRE market data. The asset’s 1996 vintage positions it competitively versus older local stock while still allowing for modernization plays.
Neighborhood fundamentals and livability
The property sits in an Urban Core pocket of Hialeah rated “B” and positioned 198 out of 449 Miami metro neighborhoods — competitive among Miami neighborhoods and above the metro median in several housing indicators. Occupancy in the neighborhood is in the top quartile nationally, supporting leasing stability and renewal potential.
Renter-occupied housing accounts for a sizable share of local units (93rd percentile nationally), which points to a broad multifamily tenant base. Median home values sit near the middle of the national distribution, but the value-to-income ratio trends in a higher national percentile, suggesting a high-cost ownership market that can sustain rental demand and pricing power for well-maintained units.
Daily needs are mixed: restaurants, cafes, childcare, and pharmacies are dense by national standards (mid-90s percentiles), while parks and grocery options are comparatively sparse within the immediate neighborhood. For investors, this pattern supports convenience-driven living but may warrant highlighting off-neighborhood grocery access in marketing and resident services.
Within a 3-mile radius, households have increased over the last five years and are projected to continue growing, with smaller average household sizes. Rising household incomes and forecast rent growth point to a larger renter pool and support for occupancy stability, based on commercial real estate analysis from WDSuite.
The asset’s 1996 construction year is newer than the neighborhood’s average vintage (1983). This can enhance competitive positioning versus older product, while still leaving room for targeted system upgrades and interior refreshes to drive rent premiums and reduce future capital surprises.
Contextualizing safety
Relative to the 449 neighborhoods in the Miami metro, this area sits near the metro middle on crime (ranked 215 of 449). Compared with neighborhoods nationwide, overall safety levels are somewhat below average, so investors should underwrite prudent security measures and consider resident experience initiatives.
Recent trends are mixed: property offenses have declined year over year, which is a constructive signal, while violent incidents are higher than many U.S. neighborhoods and rose over the last year. Framing these dynamics in marketing and operations — for example, lighting, access controls, and community engagement — can help support retention and leasing.
Proximity to diversified employers supports commuter convenience and renter demand, with nearby roles in healthcare, logistics, energy, and homebuilding reflected below.
- Johnson & Johnson — healthcare products (2.5 miles)
- Ryder System — logistics & transportation (3.6 miles) — HQ
- World Fuel Services — energy & logistics (5.2 miles) — HQ
- Lennar — homebuilding (7.7 miles) — HQ
- Mosaic — building materials (13.8 miles)
Investment thesis
This 100-unit, 1996-vintage asset benefits from neighborhood occupancy in the national top quartile, a high share of renter-occupied housing, and proximity to major employers. Newer-than-average vintage versus local stock supports competitive positioning, while targeted renovations can unlock value-add upside. According to multifamily property research from WDSuite, the surrounding area shows sustained renter demand dynamics and income growth, supporting lease-up and renewals.
Key considerations include an ownership market that remains relatively expensive versus local incomes — a tailwind for multifamily demand — as well as affordability pressure (elevated rent-to-income) that calls for careful lease management. Amenity density is strong for dining and services, though limited parks and grocery options and mixed safety trends suggest operational focus on resident experience and security.
- Neighborhood occupancy strength and high renter-occupied share support demand and renewals
- 1996 vintage offers competitive positioning with room for value-add through modernization
- Employer proximity underpins commuter appeal and leasing stability
- Risks: elevated rent-to-income, limited parks/grocery access, and mixed safety trends require active asset management