| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 33rd | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11240 SW 196th St, Miami, FL, 33157, US |
| Region / Metro | Miami |
| Year of Construction | 1981 |
| Units | 75 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11240 SW 196th St Miami Multifamily Value-Add Opportunity
In an amenity-rich inner suburb of Miami, occupancy remains generally stable and large-unit layouts offer leasing appeal, according to WDSuite’s CRE market data.
This Inner Suburb neighborhood carries a B+ rating and shows broad-based renter demand supported by daily conveniences. Grocery, childcare, restaurants, and cafes are plentiful, with concentrations that rank among the stronger pockets regionally and in the top quartile nationally. These amenities underpin day-to-day livability and can support retention for workforce and family renters.
Relative to the metro, the neighborhood’s occupancy trends track near the middle of the pack, with consistency over recent years based on WDSuite’s CRE market data. Median home values sit within a high-cost ownership context (high national value-to-income percentile), which tends to reinforce reliance on rental housing and can support pricing power for well-positioned assets when paired with effective lease management.
Within a 3-mile radius, demographics show households increasing over the last five years even as average household size edged lower. Projections point to population growth and a notable increase in household count over the next five years, which implies a larger tenant base and supports occupancy stability for multifamily. The 3-mile area skews more owner-occupied than renter-occupied, so demand may be steadier but more selective; well-maintained, appropriately priced units typically compete effectively in such ownership-leaning submarkets.
The 1981 construction year is older than the neighborhood’s average stock from the early 1990s, suggesting near- to medium-term capital planning for building systems and common areas. That age profile can also offer value-add upside where renovations align with renter preferences and the area’s amenity strengths.
Safety indicators for the neighborhood trail national benchmarks, particularly for property and violent offenses. However, recent year-over-year trends indicate improvement, with property offenses declining meaningfully and violent offenses easing modestly, according to WDSuite’s CRE market data. For investors, this suggests monitoring trajectory and micro-location context rather than relying on block-level assumptions.
Within the Miami-Miami Beach-Kendall metro’s 449 neighborhoods, this area does not sit in the top tier for safety, yet the improving trend can help support leasing if reinforced by onsite security measures, lighting, and resident engagement. Maintain prudent underwriting for insurance, security line items, and potential tenant screening to manage downside risk.
Proximity to regional corporate offices widens the commuter tenant base and supports retention through diverse employment, notably in homebuilding, energy, logistics, and healthcare-related services.
- Lennar — homebuilding (13.2 miles) — HQ
- World Fuel Services — energy & logistics (15.6 miles) — HQ
- Ryder System — transportation & logistics (19.6 miles) — HQ
- Mosaic — corporate offices (22.1 miles)
- Johnson & Johnson — healthcare offices (22.5 miles)
This 75-unit, 1981-vintage property offers large average unit sizes in an amenity-dense inner suburb of Miami. Neighborhood occupancy has been steady and livability is supported by strong access to grocery, childcare, restaurants, and parks. The older vintage implies capital planning, yet also presents practical value-add potential where renovations can capture demand and support rent positioning. According to commercial real estate analysis from WDSuite, ownership costs in the area are elevated relative to incomes, which can sustain renter reliance on multifamily housing.
Within a 3-mile radius, households have grown and are projected to expand further as household sizes decline, indicating renter pool expansion and lease-up support over time. The area is more owner-oriented than renter-oriented, so competitive positioning and amenity execution matter. Safety metrics trail national averages but have improved year over year; underwriting should account for security measures and insurance while recognizing positive momentum.
- Large-unit layouts and amenity-rich location support leasing and retention
- Value-add potential from 1981 vintage through targeted renovations and system upgrades
- Household growth within 3 miles and shrinking household size expand the tenant base
- Commuter access to major corporate offices supports demand depth and retention
- Risks: affordability pressure and below-average safety metrics warrant careful lease and security management