| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 92nd | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1026 SW 2nd Ave, Miami, FL, 33130, US |
| Region / Metro | Miami |
| Year of Construction | 2013 |
| Units | 32 |
| Transaction Date | 2012-10-25 |
| Transaction Price | $950,000 |
| Buyer | WEST BRICKELL TOWER LTD |
| Seller | FLM 1026 2ND AVENUE LLC |
1026 SW 2nd Ave, Miami Multifamily Investment Thesis
Positioned in Miami s urban core, this 32-unit asset benefits from deep renter demand and amenity density, according to WDSuite s CRE market data, while neighborhood occupancy trends warrant focused leasing strategy.
The property sits within an A+ rated Urban Core neighborhood that ranks 1 out of 449 Miami-Miami Beach-Kendall neighborhoods, reflecting strong fundamentals for multifamily. Amenity access is a standout: restaurants, groceries, cafes, and pharmacies score in the top national percentiles, reinforcing daily convenience and supporting retention for renters who prioritize walkable services.
Renter concentration is high, with a majority of housing units renter-occupied at the neighborhood level, indicating a sizable tenant base and ongoing demand for multifamily product. Median asking rents in the neighborhood are elevated relative to most U.S. neighborhoods (upper national percentile), which can support revenue potential but also calls for thoughtful lease management and product differentiation.
The building s 2013 construction is newer than the neighborhood s average vintage (2008), which generally enhances competitive positioning versus older stock; investors should still plan for selective system updates and modernization over the hold to sustain competitiveness.
Within a 3-mile radius, population and household counts have expanded in recent years and are projected to continue growing, with average household size trending smaller. This points to a larger renter pool and ongoing demand for smaller households factors that typically support occupancy stability and leasing velocity in urban Miami. In parallel, the area reflects a high-cost ownership market with elevated home values relative to incomes, which tends to sustain reliance on rental housing and can underpin pricing power for well-located assets.
Neighborhood safety trends require careful underwriting. Relative to neighborhoods nationwide, current metrics indicate safety is below the national median; however, recent data show property offenses have declined year over year, suggesting some improvement in trend trajectory. Compare these conditions against submarket peers when calibrating insurance, security measures, and marketing strategy.
At the metro scale (449 neighborhoods), results vary by indicator and subarea, so investors should benchmark against competitive urban-core assets rather than suburban references. Framing safety within broader demand drivers amenities, employment access, and renter depth can help balance risk, retention, and achievable rent positioning.
Nearby corporate offices create a diversified employment base that supports renter demand and commute convenience, including Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic corporate offices (5.7 miles)
- World Fuel Services corporate offices (10.3 miles) HQ
- Lennar corporate offices (10.8 miles) HQ
- Johnson & Johnson corporate offices (11.5 miles)
- Ryder System corporate offices (13.7 miles) HQ
1026 SW 2nd Ave is positioned in Miami s top-ranked urban neighborhood, combining walkable amenities with a deep renter base. Based on commercial real estate analysis from WDSuite, the area s renter-occupied share is high and household growth within 3 miles expands the tenant pool, which can support leasing and rent durability. The neighborhood s elevated rent benchmarks point to revenue potential, while a high-cost ownership landscape tends to reinforce reliance on multifamily housing.
Constructed in 2013, the asset is newer than the neighborhood s average vintage, providing a competitive edge over older stock and leaving room for targeted upgrades to sustain positioning. Key underwriting considerations include neighborhood-level occupancy that trails national benchmarks and safety perception in the urban core; both are manageable with focused operations, marketing, and capital planning.
- Amenity-rich, A+ urban core location with top-tier walkability and services
- Large renter base and growing 3-mile households support tenant demand
- 2013 construction offers competitive positioning with selective value-add potential
- Elevated neighborhood rents and high-cost ownership backdrop can support pricing power
- Risks: neighborhood occupancy softness and safety perception require proactive leasing and operations