| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 61st | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10605 Hammocks Blvd, Miami, FL, 33196, US |
| Region / Metro | Miami |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | $1,200,000 |
| Buyer | CASCADES AT HAMMOCKS LLC |
| Seller | II REAL E SKW I |
10605 Hammocks Blvd Miami Multifamily Investment Opportunity
Neighborhood occupancy is strong and historically resilient, according to WDSuite’s CRE market data, suggesting durable leasing for a 24-unit asset in this Miami submarket.
The property sits in a neighborhood rated A and ranked 32 out of 449 Miami-Miami Beach-Kendall neighborhoods, placing it in the top quartile locally. For investors, that status reflects mature amenities, steady renter demand, and operational depth relative to many metro peers.
Renter demand signals are favorable: the neighborhood occupancy rate is 98.6% (neighborhood metric), ranking 62 of 449 — a top-quartile standing that supports lease-up confidence and retention management. The share of housing units that are renter-occupied in the neighborhood measures in the mid-to-upper range, reinforcing a meaningful tenant base for multifamily.
Amenity access is a differentiator. Grocery (ranked 78 of 449) and restaurants (102 of 449) both fall in the top quartile metro-wide, with parks (29 of 449) and childcare density (22 of 449) also top quartile. The neighborhood’s average school rating is 4.0 and ranks 12 of 449, indicating comparatively strong K–12 options that can aid lease retention for family renters.
Within a 3-mile radius, households have increased while average household size has declined, indicating more, smaller households entering the market. WDSuite’s CRE market data shows households up over the last five years with forecasts calling for further household growth through the next cycle, which typically supports occupancy stability and broadens the renter pool even if population growth is modest.
Home values are elevated for the metro (national 80th percentile for value-to-income), which tends to sustain reliance on rental housing and can underpin pricing power. Neighborhood median contract rents have trended upward over five years, consistent with Miami’s broader multifamily trajectory, while investors should calibrate rent-to-income at the neighborhood level for ongoing lease management.
Safety indicators are mixed and should be evaluated in context. The neighborhood’s overall crime rank sits near the metro midpoint (197 of 449 Miami-area neighborhoods), and national comparisons place the area below the national median for safety. However, recent trends show improvement, with both violent and property offense rates declining year over year.
Nationally benchmarked trends indicate property offenses have eased and violent offenses have also moved lower in the last year, which, if sustained, may support resident retention. Investors should pair these directional improvements with on-site security practices and tenant screening to manage risk alongside the submarket’s otherwise strong fundamentals.
Proximity to major employers provides a broad white-collar and logistics-oriented employment base that supports renter demand and commute convenience for residents. Nearby anchors include Lennar, World Fuel Services, Ryder System, Johnson & Johnson, and Mosaic.
- Lennar — homebuilding HQ (8.7 miles) — HQ
- World Fuel Services — energy services HQ (11.3 miles) — HQ
- Ryder System — transportation & logistics HQ (14.3 miles) — HQ
- Johnson & Johnson — healthcare products offices (18.6 miles)
- Mosaic — materials & chemicals offices (22.3 miles)
This Miami asset benefits from neighborhood fundamentals that are competitive among metro submarkets: top-quartile occupancy at the neighborhood level, strong schools, and dense daily-needs amenities. Within a 3-mile radius, households have expanded and are projected to grow further as average household size declines, typically translating into a larger tenant base and steady leasing velocity. Elevated ownership costs relative to incomes signal continued reliance on multifamily, which can support pricing power when managed against rent-to-income levels.
According to commercial real estate analysis from WDSuite, the neighborhood posts above-metro marks for amenity access and occupancy, while year-over-year improvements in offense rates point to manageable, improving risk factors. Investors should underwrite with attention to retention and affordability pressure, but the local demand profile and employment access offer durable support for long-term operations.
- Top-quartile neighborhood occupancy supports lease-up confidence and stable cash flow
- 3-mile household growth and smaller household sizes expand the renter pool
- Elevated ownership costs reinforce multifamily demand and pricing power potential
- Proximity to multiple corporate anchors underpins steady workforce housing demand
- Risk: below-national-median safety levels require active property and tenant management