| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 32nd | Fair |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9921 W Okeechobee Rd, Hialeah, FL, 33016, US |
| Region / Metro | Hialeah |
| Year of Construction | 1987 |
| Units | 45 |
| Transaction Date | 1994-11-28 |
| Transaction Price | $4,400,000 |
| Buyer | SW PROP 2 INC |
| Seller | FED NATL MTG ASSN |
9921 W Okeechobee Rd Hialeah Multifamily Investment
Stable neighborhood occupancy and a deep renter base point to durable demand, according to WDSuite s commercial real estate analysis for the Hialeah submarket. The property s infill setting supports leasing resilience relative to broader metro cycles.
Positioned in Hialeah s Urban Core, the property benefits from a neighborhood rated A and ranked 61 out of 449 Miami metro neighborhoods competitive among Miami neighborhoods. Amenity density is a standout: grocery, restaurants, parks, pharmacies, and cafes measure in the top decile nationally, with grocery access near the 99th percentile and dining/parks near the 98th percentile, supporting day-to-day convenience and resident retention.
Multifamily fundamentals are favorable. Neighborhood occupancy is 97.8% (top quartile nationally) and above the metro median, based on CRE market data from WDSuite. The share of renter-occupied housing units in the neighborhood is 62.1% (95th percentile nationally), indicating a large renter pool and depth of tenant demand that can help stabilize leasing through cycles.
Home values trend higher relative to local incomes (value-to-income near the 89th national percentile), creating a high-cost ownership market that reinforces reliance on rental housing. At the same time, rent levels sit around the upper tiers nationally (about the 78th percentile), which suggests ongoing affordability pressure to manage for renewals and pricing strategy.
Within a 3-mile radius, recent data shows modest population growth alongside a larger increase in households and a decline in average household size factors that typically expand the renter base and support occupancy stability. Forward-looking projections in this 3-mile area indicate more households even as population edges down, implying smaller households and a sustained need for rental options rather than signaling new unit construction.
Vintage context: the property was built in 1987 versus a neighborhood average vintage around 1984. This slightly newer profile can be competitive against older stock; however, systems are still reaching age thresholds where targeted capital planning and value-add upgrades can enhance marketability and operating efficiency.
Safety indicators for the immediate neighborhood are mixed but broadly in line with regional patterns. Relative to 449 Miami metro neighborhoods, the area s crime rank places it competitive among Miami neighborhoods, and national comparisons sit roughly around the middle of the pack (about the low-50s percentiles). According to WDSuite s CRE market data, recent trends show violent incidents easing while property incidents have ticked up, underscoring the importance of standard property and access controls, lighting, and tenant communication.
For investors, the takeaway is practical risk management rather than outsized concern: conditions compare reasonably within the metro and near national midpoints, and applying typical multifamily security measures can help support resident satisfaction and retention.
The submarket draws from a diversified employment base anchored by corporate offices within short drive times, supporting workforce housing demand and commute convenience for residents. Notable nearby employers include Ryder System, Johnson & Johnson, World Fuel Services, Lennar, and Mosaic.
- Ryder System corporate offices (3.0 miles) HQ
- Johnson & Johnson corporate offices (3.6 miles)
- World Fuel Services corporate offices (4.0 miles) HQ
- Lennar corporate offices (6.6 miles) HQ
- Mosaic corporate offices (13.9 miles)
This 45-unit asset at 9921 W Okeechobee Rd sits in an A-rated, amenity-rich Hialeah neighborhood where occupancy is elevated and renter concentration is high, supporting steady leasing. According to CRE market data from WDSuite, neighborhood occupancy is in the top quartile nationally and above the metro median, while a strong amenity footprint (grocers, dining, parks) bolsters livability and retention. The 1987 vintage is slightly newer than the local average, suggesting targeted renovations and systems modernization could sharpen competitive positioning and operational efficiency.
Within a 3-mile radius, households have been rising and are projected to continue increasing even as average household size declines, pointing to a broader tenant base over time. Ownership remains relatively costly versus incomes, which sustains rental reliance; however, rent levels relative to household incomes warrant careful lease management to mitigate affordability pressure and preserve renewal rates.
- High neighborhood occupancy and deep renter base support leasing stability
- Amenity-rich Urban Core location aids tenant retention and day-to-day convenience
- 1987 vintage allows value-add through selective renovations and system upgrades
- 3-mile household growth and smaller household sizes expand the renter pool over time
- Risk: affordability pressure relative to incomes requires disciplined pricing and renewal strategy