| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 71st | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6960 Rue Vendome, Miami Beach, FL, 33141, US |
| Region / Metro | Miami Beach |
| Year of Construction | 1980 |
| Units | 20 |
| Transaction Date | 2017-08-30 |
| Transaction Price | $4,500,000 |
| Buyer | --- |
| Seller | --- |
6960 Rue Vendome Miami Beach 20-Unit Multifamily
Neighborhood fundamentals point to strong renter demand supported by dense amenities and a high-cost ownership market, according to WDSuite's CRE market data.
The property sits in an Urban Core neighborhood of Miami Beach with exceptional daily-life convenience. Amenity access ranks in the top decile among 449 metro neighborhoods, with restaurants, groceries, pharmacies, and parks all measuring in the top national percentiles. This concentration of services typically supports leasing velocity and resident retention for well-managed multifamily assets.
Within a 3-mile radius, demographics show a broad adult population mix and a renter-occupied share around one-half of housing units (52.5%). That renter concentration indicates depth in the tenant base, even as population counts have softened in recent years; projections point to an increase in households over the next five years, which would expand the local renter pool. Median school ratings trend mid-range, suggesting stable but not differentiated school-driven demand.
Home values in the neighborhood are elevated relative to incomes (top national percentiles), a high-cost ownership context that tends to sustain reliance on rental housing and supports pricing power for well-positioned properties. At the same time, rent-to-income ratios signal affordability pressure for some households, which makes thoughtful lease management and renewal strategies important. Housing occupancy reported for the neighborhood is below metro averages, so property-level operations and positioning will matter for achieving target stabilization.
From a commercial real estate analysis perspective, neighborhood-level NOI per unit trends sit above national medians, reinforcing the case for professionally managed assets that can capture demand from amenity-seeking renters while navigating affordability and occupancy dynamics. Vintage in this submarket skews 1970s; the subject's 1980 construction is slightly newer than the neighborhood average, supporting competitive positioning with targeted upgrades as needed.
Safety indicators for the neighborhood track below national norms, and the area ranks in the lower tiers when compared with 449 metro neighborhoods. However, recent year-over-year data show double-digit declines in both violent and property offense rates at the neighborhood level, indicating improvement momentum. Investors should underwrite with conservative assumptions while recognizing the positive direction of near-term trends.
As with any Urban Core location, outcomes vary block to block; comparative framing and ongoing trend monitoring are prudent. Portfolio operators often mitigate risk through security design, lighting, and resident engagement, using neighborhood trendlines as context rather than definitive property-level predictions.
Proximity to established corporate offices supports workforce housing demand and commuting convenience, including Mosaic, Johnson & Johnson, World Fuel Services, Lennar, and Ryder System.
- Mosaic — corporate offices (3.0 miles)
- Johnson & Johnson — healthcare products offices (11.0 miles)
- World Fuel Services — energy distribution (14.4 miles) — HQ
- Lennar — homebuilding (16.0 miles) — HQ
- Ryder System — logistics (16.0 miles) — HQ
This 20-unit property at 6960 Rue Vendome benefits from a high-amenity Urban Core location where elevated ownership costs help sustain multifamily demand. Neighborhood rents and NOI per unit trends are competitive versus national benchmarks, and proximity to major employers supports a steady tenant pipeline. Built in 1980, the asset is slightly newer than the neighborhood's 1970s average, allowing for value-add modernization that can enhance positioning against older stock.
Investors should balance these strengths against below-metro housing occupancy and affordability pressure signaled by rent-to-income ratios. According to CRE market data from WDSuite, recent neighborhood crime metrics are trending downward, which, if sustained, could support leasing stability over time. Execution focus should center on targeted renovations, tenant experience, and disciplined leasing to capture demand while managing retention risk.
- Urban Core location with top-tier amenities supporting renter demand
- High-cost ownership market reinforces reliance on rentals and pricing power
- 1980 vintage offers value-add renovation upside versus older local stock
- Monitor occupancy softness, affordability pressure, and neighborhood safety trends as underwriting risks