| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1205 NW 103rd Ln, Miami, FL, 33147, US |
| Region / Metro | Miami |
| Year of Construction | 1991 |
| Units | 26 |
| Transaction Date | 2021-05-25 |
| Transaction Price | $15,000,000 |
| Buyer | BLUE LAKE APARTMENTS LLC |
| Seller | BLUE LAKE VILLAGE APARTMENTS INC |
1205 NW 103rd Ln Miami 26-Unit Multifamily
Neighborhood fundamentals point to steady renter demand and above-median occupancy at the neighborhood level, according to WDSuite’s commercial real estate analysis. Investor focus: a majority renter-occupied area supports leasing stability while ownership costs in Miami-Dade sustain reliance on multifamily housing.
Located in Miami’s urban core, the property benefits from a neighborhood that is above the metro median for occupancy, with stability supported by a majority of housing units being renter-occupied. This indicates a deeper tenant base and potential retention tailwinds for multifamily owners, based on CRE market data from WDSuite.
Amenity access is a relative strength: restaurant and grocery densities rank competitive among 449 Miami metro neighborhoods and sit in the top decile to top quartile nationally. Pharmacies also index in the top quartile nationally. However, park access is limited within the neighborhood, which may modestly affect livability positioning versus other Miami submarkets.
Vintage considerations: the building’s 1991 construction is newer than the neighborhood’s older housing stock (average year 1964). That generally helps competitive positioning against legacy inventory, though investors should plan for system updates and selective modernization typical of early-1990s assets.
Tenure and rents: with a renter-occupied share above 50%, the neighborhood supports multifamily absorption depth. Rents trend above national medians and have increased over the past five years, reinforcing pricing power potential while underscoring the need for active lease management.
Demographics (3-mile radius): households have grown even as population was roughly flat to slightly down, pointing to smaller household sizes and a gradual shift that can expand the renter pool. Forward-looking projections show population and households increasing into the next five years, which supports occupancy stability and future leasing velocity.
Ownership market context: elevated home values relative to incomes locally suggest a high-cost ownership environment. That backdrop typically sustains multifamily demand and can aid lease retention, though rent-to-income levels indicate some affordability pressure that owners should account for in renewal strategies.
Safety indicators for the neighborhood track below the metro median among 449 Miami-area neighborhoods and are also below national averages. This suggests investors should underwrite prudent security measures and tenant screening standards when evaluating operations.
Recent trend data show that violent offense rates have improved year over year, while property offense estimates remain elevated. Taken together, the trajectory merits monitoring but does not change the need for conservative operating assumptions and risk controls.
The area draws on a diverse employment base that supports renter demand through commute convenience to major corporate offices, including healthcare, energy, logistics, homebuilding, and industrials present within roughly 5–12 miles.
- Johnson & Johnson — healthcare & consumer products (5.4 miles)
- Mosaic — chemicals & agribusiness (7.2 miles)
- World Fuel Services — energy distribution (9.4 miles) — HQ
- Ryder System — transportation & logistics (10.3 miles) — HQ
- Lennar — homebuilding (11.4 miles) — HQ
This 26-unit asset aligns with a neighborhood that is above the metro median for occupancy and majority renter-occupied, supporting leasing durability. Elevated ownership costs in Miami-Dade underpin continued reliance on rentals, while amenity access (food, grocery, pharmacy) compares favorably across the metro and nationally. According to CRE market data from WDSuite, these dynamics have coincided with rent levels above national medians and solid neighborhood occupancy, positioning the asset for steady cash flow management.
Built in 1991, the property is newer than much of the surrounding stock, improving competitive standing versus older assets while still warranting capital planning for system upgrades and targeted renovations. Key watch items include below-average school ratings, limited park access, safety metrics that trail metro norms, and affordability pressures that call for careful renewal and concession strategies.
- Above-median neighborhood occupancy and majority renter-occupied housing support demand depth and retention
- 1991 vintage offers relative competitiveness versus older neighborhood stock with value-add modernization potential
- Strong amenity access (restaurants, groceries, pharmacies) enhances livability and leasing appeal
- High-cost ownership market reinforces renter reliance on multifamily, aiding pricing power
- Risks: safety metrics below metro norms, modest school performance, limited parks, and affordability pressure requiring active lease management