| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 55th | Good |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 119 SW 6th Ave, Miami, FL, 33130, US |
| Region / Metro | Miami |
| Year of Construction | 2011 |
| Units | 49 |
| Transaction Date | 2012-10-10 |
| Transaction Price | $6,549,999 |
| Buyer | BRICKELL PARK VIEW 3 LLC |
| Seller | DON DOMENICO REALTIES LLC |
119 SW 6th Ave Miami Multifamily Investment Opportunity
Urban core positioning and a high neighborhood renter-occupied share point to durable demand, according to WDSuite’s CRE market data. The 2011 vintage offers relatively competitive stock versus older area properties while still allowing for targeted modernization.
This Urban Core neighborhood carries a B+ rating and ranks 161 out of 449 in the Miami–Miami Beach–Kendall metro, making it competitive among Miami neighborhoods. Relative to the metro, the local apartment occupancy is below the median; this is a neighborhood-level statistic, not property-specific, and suggests operators should emphasize leasing execution and retention tactics.
The submarket skews heavily renter-occupied (about 81% of housing units), indicating depth in the tenant base and consistent interest in multifamily options. Elevated home values compared with local incomes create a high-cost ownership market, which generally sustains renter reliance on apartments and can aid lease-up and renewal potential.
Lifestyle access is mixed: restaurants and parks are dense by national standards, while immediate grocery, pharmacy, and café counts within neighborhood boundaries are limited. For investors, this combination typically favors urban renters seeking dining and recreation access, with some residents traveling a bit farther for daily errands.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising, with average household size trending smaller. This points to a larger, diversifying renter pool and supports occupancy stability, a view grounded in WDSuite’s commercial real estate analysis of local demand drivers.
Construction trends matter: the average neighborhood vintage skews older (early 1980s), while this property’s 2011 build year provides a relative competitive edge versus legacy stock. Investors should still plan for mid-life capital items and selective upgrades to maintain positioning against newer deliveries.
Safety indicators for the neighborhood track below the metro average and fall below national midrange levels. That said, recent year-over-year data show declines in both violent and property offenses, suggesting some improvement momentum. These are neighborhood-level readings and should be weighed alongside property-specific security measures and operational practices.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, notably including Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — corporate offices (5.8 miles)
- World Fuel Services — corporate offices (9.7 miles) — HQ
- Lennar — corporate offices (10.3 miles) — HQ
- Johnson & Johnson — corporate offices (10.7 miles)
- Ryder System — corporate offices (13.1 miles) — HQ
The investment case centers on durable renter demand supported by a high neighborhood renter-occupied share and an Urban Core setting where ownership costs are elevated relative to incomes. According to CRE market data from WDSuite, neighborhood occupancy trends sit below the metro median, making operations and renewal management key levers while the surrounding dining and park access reinforces urban renter appeal.
Built in 2011, the asset is newer than much of the area’s housing stock, offering relative competitiveness with room for value-add through mid-life systems planning and targeted interior or amenity upgrades. Within a 3-mile radius, population and household growth alongside smaller average household size indicate a growing renter pool, which can support leasing stability over time.
- Urban Core location with strong restaurant and park access supports renter appeal
- High renter-occupied share indicates depth of tenant demand
- 2011 construction offers competitive positioning vs. older local stock with value-add potential
- 3-mile population and household growth point to a larger renter base and leasing stability
- Risks: neighborhood occupancy below metro median and affordability pressure require active lease and revenue management