| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 37th | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11900 NE 16th Ave, Miami, FL, 33161, US |
| Region / Metro | Miami |
| Year of Construction | 2003 |
| Units | 20 |
| Transaction Date | 2021-12-21 |
| Transaction Price | $25,382,500 |
| Buyer | 11900 NE 16TH AVENUE FL OWNER LLC |
| Seller | BAYWINDS ASSOCIATES LTD |
11900 NE 16th Ave Miami Multifamily Investment
Renter-occupied housing is prevalent at the neighborhood level, supporting a deeper tenant base and steady leasing, according to WDSuite’s CRE market data.
Located in Miami’s Urban Core, the property benefits from a neighborhood that ranks above the metro median for overall livability (A- rating; 104th of 449 Miami-area neighborhoods). Amenity access is a clear strength: cafés and restaurants are dense (top decile nationally), with grocery stores and pharmacies also plentiful, reinforcing daily convenience for residents.
At the neighborhood level, occupancy trends are near the national midpoint and have inched higher over the past five years, pointing to stable tenant demand rather than volatility. The housing stock skews older locally (average vintage 1966 across the neighborhood, measured against 449 metro neighborhoods), while the subject’s 2003 construction positions it as newer relative to nearby inventory—often translating into stronger competitive positioning and potentially lower near-term capital needs, while still warranting system updates typical for assets of this age.
Tenure data indicates a high share of renter-occupied units within the neighborhood (competitive among Miami neighborhoods), which supports a larger leasing funnel and occupancy stability for multifamily assets. Median contract rents in the neighborhood sit above many U.S. locations, and the rent-to-income profile suggests some affordability pressure, a consideration for renewal and pricing strategy rather than a demand constraint.
Demographic statistics aggregated within a 3-mile radius show households and families have grown in recent years even as overall population edged lower, implying smaller household sizes and a broader renter pool. Forward-looking projections indicate population growth and a notable increase in households, which should expand the local tenant base and support occupancy over the medium term. School rating data is limited in this dataset; investors may wish to underwrite schools at the micro level if family demand is central to the strategy.
Neighborhood safety trends are mixed when viewed across geographies. Relative to the Miami metro, the area’s crime rank sits in a less favorable cohort (ranked 38 among 449 neighborhoods, where lower ranks indicate higher incident levels), warranting attention to property-level security measures and underwriting for insurance and operating protocols. Nationally, the neighborhood sits above the median for safety (around the 65th percentile), highlighting stronger comparative performance versus many U.S. neighborhoods.
Recent trend data is constructive: estimated property and violent offense rates have both declined meaningfully over the past year at the neighborhood level. While block-to-block conditions can vary, these improvements suggest an improving trend line that can support tenant retention when paired with standard asset-level safety practices.
The surrounding employment base includes corporate offices across energy, healthcare, logistics, and homebuilding—diverse drivers that support renter demand and commute convenience for the workforce. Nearby anchors include Mosaic, Johnson & Johnson, World Fuel Services, Ryder System, and Lennar.
- Mosaic — corporate offices (5.8 miles)
- Johnson & Johnson — corporate offices (8.2 miles)
- World Fuel Services — energy & logistics (12.8 miles) — HQ
- Ryder System — logistics & transportation (13.7 miles) — HQ
- Lennar — homebuilding (14.8 miles) — HQ
11900 NE 16th Ave sits within a Miami neighborhood that combines strong amenity access with stable, mid-cycle occupancy and a high concentration of renter-occupied housing—factors that support steady leasing and retention. The asset’s 2003 construction is newer than much of the nearby housing stock, which can provide a competitive edge versus older properties and may temper near-term capital expenditures, while still leaving room for targeted modernization to drive rents. Home values in the area are elevated, reinforcing reliance on multifamily rentals and supporting depth of demand.
Demographic statistics within a 3-mile radius indicate household and family growth and a projected increase in population and households, pointing to a larger tenant base over time. According to CRE market data from WDSuite, neighborhood occupancy trends are steady near the metro midpoint while renter demand remains robust, suggesting the property can compete on fundamentals with prudent affordability and renewal management.
- Newer 2003 vintage relative to local stock supports competitive positioning and moderates near-term capex
- High neighborhood renter-occupied share deepens the tenant base and supports leasing stability
- Dense amenities (food, grocery, pharmacy, parks) enhance livability and retention
- 3-mile outlook points to population and household growth, expanding the renter pool
- Risk: Metro-relative crime rank is less favorable; underwrite security, insurance, and operating protocols