| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 36th | Fair |
| Amenities | 83rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7740 W 28th Ave, Hialeah, FL, 33018, US |
| Region / Metro | Hialeah |
| Year of Construction | 1997 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | $700,000 |
| Buyer | RAMOS ALFONSO |
| Seller | KUHN CHARLES H |
7740 W 28th Ave Hialeah Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, supporting stable cash flow potential for a 30-unit asset in Hialeah’s urban core.
This Urban Core location in Hialeah benefits from dense daily needs and services. Grocery, pharmacy, and dining access are notably strong, with the neighborhood ranking 4th, 7th, and 44th out of 449 Miami metro neighborhoods, respectively, which places these amenities in the top quartile nationally. That concentration of essentials tends to support resident retention and reduce leasing friction for multifamily assets.
Neighborhood occupancy is 98.8% (top quartile nationally and 52nd of 449 metro neighborhoods), indicating tight local rental dynamics relative to the broader Miami market. Renter-occupied housing represents 54.9% of units, signaling a sizable tenant base and depth of demand for apartment product. Median contract rents are elevated for the metro, reinforcing the need for disciplined lease management but also validating pricing power in well-operated assets.
Within a 3-mile radius, households increased by 13% over the past five years and are projected to grow further through 2028, while average household size is trending smaller. For multifamily investors, this points to renter pool expansion and sustained absorption potential, particularly for efficiently planned units. Population growth has been modest, but household formation trends locally should continue to underpin occupancy stability.
Home values in the neighborhood sit above many U.S. locations (national 86th percentile for value-to-income), creating a relatively high-cost ownership market that can reinforce reliance on rentals and support lease retention in quality multifamily. One trade-off is limited park access (ranked 449th of 449 metro neighborhoods), so on-site or nearby private recreational options may matter for competitive positioning.
Safety indicators are mixed. The neighborhood’s overall crime positioning is below the metro median (ranked 270th of 449 Miami-area neighborhoods), suggesting higher incident levels than many parts of the region. Nationally, property-related offenses trend comparatively better (around the 65th percentile), while violent offense metrics sit below the national midpoint (about the 35th percentile).
Investors should underwrite to current conditions and emphasize standard risk mitigants such as lighting, access controls, and resident engagement, while monitoring trend direction rather than relying on block-level assumptions.
Proximity to diversified employers supports commuter convenience and multifamily demand, with nearby roles spanning healthcare products, logistics, and energy services. The following anchors are within a commutable reach and help stabilize the local renter base.
- Johnson & Johnson — healthcare products (2.9 miles)
- Ryder System — logistics & transportation (3.2 miles) — HQ
- World Fuel Services — energy services (5.7 miles) — HQ
- Lennar — homebuilding (8.2 miles) — HQ
- Mosaic — industrial & corporate offices (14.7 miles)
The property’s 1997 vintage is slightly newer than the neighborhood average, offering competitive positioning versus older stock while still allowing for targeted modernization to enhance yield. Tight neighborhood occupancy and a renter-occupied share above half indicate durable demand drivers, and within a 3-mile radius, household growth and smaller household sizes point to a larger tenant base and support for leasing velocity. Elevated ownership costs locally further sustain reliance on rentals, bolstering retention for well-managed communities.
According to CRE market data from WDSuite, neighborhood-level occupancy performance outpaces many U.S. areas, while incomes in the nearby radius have trended higher alongside rent growth. Underwriting should account for rent-to-income affordability pressure and the amenity trade-off from limited public parks, but the combination of strong daily-needs access, diversified employers, and modest value-add potential provides a credible long-term thesis.
- 1997 vintage offers competitive footing with room for targeted renovations
- Tight neighborhood occupancy and sizable renter-occupied share support leasing stability
- Household growth and smaller sizes within 3 miles expand the tenant base
- High-cost ownership context reinforces multifamily demand and retention
- Risks: affordability pressure (rent-to-income) and limited park amenities warrant active management