| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 30th | Fair |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 25370 SW 137th Ave, Homestead, FL, 33032, US |
| Region / Metro | Homestead |
| Year of Construction | 2004 |
| Units | 20 |
| Transaction Date | 2021-12-21 |
| Transaction Price | $30,903,300 |
| Buyer | 25400 SW 137TH AVENUE FL OWNER LLC |
| Seller | TUSCANY PLACE ASSOCIATES LTD |
25370 SW 137th Ave Homestead Multifamily Investment
Strong renter demand in an Urban Core pocket of Homestead with neighborhood occupancy in the low-90s, according to WDSuite’s CRE market data. Grocery access is robust while ownership costs trend elevated for the metro, supporting stable multifamily leasing dynamics.
This Urban Core neighborhood in Miami-Dade leans rental, providing a deep tenant base for a 20-unit asset. The share of housing units that are renter-occupied ranks 34th out of 449 metro neighborhoods — competitive among Miami-Miami Beach-Kendall neighborhoods and in the top tail nationally — signaling consistent leasing prospects and turnover visibility for operators.
Livability favors daily needs: grocery density is high (ranked 34th of 449; top quartile nationally), while café, park, and pharmacy density is thinner locally. For investors, this mix suggests dependable access to essentials but fewer lifestyle amenities immediately nearby, which can influence positioning and renovation strategy.
Rents in the neighborhood sit above national medians (around the low-70s national percentile), and the rent-to-income profile trends relatively manageable compared with many Sun Belt submarkets. In parallel, home values relative to incomes skew high (nationally elevated value-to-income ratios), which tends to sustain reliance on rental housing — a positive for tenant retention and pricing power in steady markets.
Within a 3-mile radius, demographics indicate population and household growth over the past five years with additional expansion projected by 2028, pointing to a larger tenant base over time. The property’s 2004 vintage is slightly older than the neighborhood’s average construction year of 2006; investors may consider targeted capital improvements and modernization to sharpen competitive positioning versus newer stock while capturing value-add upside.
Safety outcomes are mixed relative to peers: this neighborhood ranks 241st out of 449 in the metro, placing it below the metro median for safety and around the low-40s nationally. That said, both violent and property offense rates show notable year-over-year declines, indicating improving conditions. Investors should underwrite with conservative assumptions while recognizing the downward trend.
Proximity to major Miami employment nodes supports commuter demand and leasing resilience, with nearby roles concentrated in homebuilding, energy logistics, transportation, and healthcare—key drivers for workforce housing in this submarket.
- Lennar — homebuilding (17.1 miles) — HQ
- World Fuel Services — energy logistics (19.6 miles) — HQ
- Ryder System — transportation & logistics (23.3 miles) — HQ
- Mosaic — chemicals & fertilizer (26.5 miles)
- Johnson & Johnson — healthcare & medical products (26.7 miles)
This 2004-vintage, 20-unit asset sits in a renter-heavy Miami-Dade neighborhood where daily-needs retail is strong and ownership costs are comparatively high versus local incomes—factors that typically reinforce multifamily demand. Neighborhood occupancy remains in the low-90s and rents benchmark above national medians; according to CRE market data from WDSuite, renter concentration is among the metro’s higher tiers, supporting tenant depth and lease-up stability.
Within a 3-mile radius, recent population and household growth, alongside projections for further expansion by 2028, point to a larger renter pool over time. Given the property’s slightly older vintage than nearby stock, a focused value-add plan—systems refresh, interiors, and curb appeal—can help the asset compete with newer deliveries while leveraging steady demand drivers. Operators should also account for thinner lifestyle amenities and a safety profile below the metro median, balancing underwriting with continued crime-rate improvement trends.
- High renter-occupied share locally supports a deep tenant base and stable leasing
- Daily-needs accessibility (strong grocery presence) aids retention and convenience
- 3-mile population and household growth expand the renter pool and support occupancy
- 2004 vintage offers value-add potential to compete with newer neighborhood stock
- Risks: below-median safety and fewer lifestyle amenities; underwrite conservatively while noting recent improvement trends