| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 30th | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5405 NW 159th St, Miami Lakes, FL, 33014, US |
| Region / Metro | Miami Lakes |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | 2021-12-21 |
| Transaction Price | $29,752,300 |
| Buyer | 5200 NW 158TH TERRACE FL OWNER LLC |
| Seller | MARBRISA ASSOCIATES LTD |
5405 NW 159th St Miami Lakes Multifamily Investment
Neighborhood occupancy is strong and has held above typical metro levels, supporting income stability according to WDSuite’s CRE market data. Renter demand is reinforced by a deep tenant base and accessible daily amenities.
Located in Miami Lakes’ inner suburb setting, the property benefits from neighborhood fundamentals that are above the metro median on housing metrics and competitive amenity access. Cafes and groceries score in the upper national percentiles, and restaurants and parks are similarly well represented, which supports day-to-day convenience attractive to renters.
The neighborhood’s occupancy sits in the top quartile nationally and is above the metro median among 449 Miami-area neighborhoods, a signal of leasing durability that can help limit downtime. Renter-occupied housing represents roughly two-thirds of neighborhood units, indicating depth in the tenant pool and sustained demand for multifamily product. Median contract rents in the area have risen over the last five years, and current levels remain aligned with local incomes, which supports retention and steady lease-up.
At the property level, 2001 construction is newer than the neighborhood’s average vintage, offering a competitive edge versus older stock while still leaving room for targeted updates to systems and interiors over a hold. This positioning can help capture renters seeking modern conveniences without new-build pricing.
Demographic statistics are aggregated within a 3-mile radius. While the broader population has edged down modestly in recent years, household counts and families have increased, and forecasts point to additional household growth alongside smaller average household size by 2028. This shift implies a larger renter base and diversified demand drivers, which can support occupancy stability over time.
Ownership costs in the area are elevated relative to incomes by national comparison, which tends to reinforce reliance on rental housing and can support pricing power for well-maintained units. For investors, the mix of amenity access, renter concentration, and competitive vintage collectively enhances leasing prospects while warranting ongoing attention to affordability and value positioning.
Neighborhood safety indicators are mixed relative to the region. Compared with 449 Miami-area neighborhoods, the area’s crime rank sits below the metro median, placing it in a more challenging cohort, and it tracks below the national midpoint as well. However, recent year-over-year declines in property offenses represent an improvement trend that is competitive among peer neighborhoods nationwide.
For underwriting, this suggests a balanced view: conditions are not top-tier for safety, but the downward movement in property-related incidents is constructive. As always, investors should calibrate marketing, security measures, and operating assumptions to the immediate block context and current leasing profile.
Proximity to a concentration of corporate offices supports commuter convenience and renter retention, with a nearby mix including Johnson & Johnson, Ryder System, World Fuel Services, Lennar, and Mosaic.
- Johnson & Johnson — corporate offices (1.2 miles)
- Ryder System — corporate offices (7.1 miles) — HQ
- World Fuel Services — corporate offices (8.5 miles) — HQ
- Lennar — corporate offices (11.1 miles) — HQ
- Mosaic — corporate offices (12.4 miles)
5405 NW 159th St aligns with stable, renter-driven fundamentals. The neighborhood posts above-metro occupancy with top-quartile national positioning, and renter-occupied housing is a sizable share of the local stock, supporting depth of demand. According to CRE market data from WDSuite, amenity access is competitive versus national peers, reinforcing day-to-day livability that helps leasing and renewal velocity.
Built in 2001, the asset is newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while allowing room for selective value-add to capture rent premiums. Within a 3-mile radius, households have grown despite modest population softening, and are projected to rise further as average household size declines — dynamics that typically expand the renter pool and support occupancy stability. Investors should balance these strengths with prudent attention to safety trends and affordability management to sustain retention.
- Above-metro and top-quartile national occupancy supports income stability
- 2001 vintage provides competitive positioning with targeted value-add potential
- Household growth and smaller household sizes expand the renter pool within 3 miles
- Nearby corporate offices underpin commuter demand and lease retention
- Risk: safety metrics trail metro leaders; maintain prudent operating assumptions