| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 92nd | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1228 SW 3rd Ave, Miami, FL, 33130, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1228 SW 3rd Ave Miami Multifamily Value‑Add Opportunity
Positioned in Miami’s Urban Core with strong amenity density and a deep renter base, the asset benefits from durable demand drivers, according to WDSuite’s CRE market data. Investor focus centers on value-add potential and rent positioning amid high-income household growth nearby.
Located in Miami’s Urban Core, the property sits within a top-ranked neighborhood (A+) that is competitive among Miami-Miami Beach-Kendall neighborhoods and top quartile nationally for livability indicators. Amenity access is a standout: groceries, restaurants, cafes, parks, pharmacies, and childcare are all unusually dense for the metro, supporting renter appeal and daily convenience.
Renter concentration at the neighborhood level is high, indicating a deep base of renter-occupied units that supports multifamily demand and leasing velocity. Within a 3-mile radius, population and households have expanded over the past five years, with forecasts pointing to additional population growth and a sizable increase in households. Smaller projected household sizes suggest continued demand for professionally managed rentals and studios/one-bedrooms, which can support occupancy stability.
Ownership is a high-cost proposition in this area relative to many U.S. neighborhoods, and home values have appreciated meaningfully in recent years. This ownership landscape tends to sustain reliance on multifamily rentals and can reinforce pricing power and lease retention for well-positioned assets.
At the same time, neighborhood occupancy has trended lower than the national median, implying competitive lease-up conditions. Investors should plan for thoughtful pricing, targeted amenities, and unit-mix alignment to capture demand. Given the property’s 1972 vintage in a submarket where the average construction year skews much newer, a modernization program can address CapEx needs while enhancing competitive positioning versus newer stock.
Safety indicators track below national percentiles for both violent and property offenses at the neighborhood level, signaling that crime is higher here than in many U.S. neighborhoods and above the metro median. However, recent data show an improvement trend in property offenses over the past year, which investors can weigh alongside the area’s Urban Core location and amenity depth.
For underwriting, frame security enhancements, lighting, and access controls as standard operating considerations. Compare on-site incident trends to broader metro benchmarks over time rather than relying on short-term changes, and calibrate marketing and staffing to resident expectations for Urban Core properties.
The immediate area is supported by a diversified employment base across corporate headquarters and regional offices, which underpins renter demand and commute convenience for workforce and professional tenants. The list below highlights nearby employers with potential to support leasing stability.
- Mosaic — corporate offices (5.8 miles)
- World Fuel Services — energy/logistics (10.3 miles) — HQ
- Lennar — homebuilding (10.7 miles) — HQ
- Johnson & Johnson — healthcare products (11.5 miles)
- Ryder System — transportation & logistics (13.7 miles) — HQ
This 36-unit asset offers a classic value-add profile in a high-demand Urban Core setting. The surrounding neighborhood ranks among the strongest in the Miami metro for amenities and income depth, while a large share of renter-occupied housing supports a durable tenant base. According to CRE market data from WDSuite, households within a 3-mile radius have increased and are projected to expand further, with smaller household sizes pointing to a growing renter pool and support for occupancy over the long term.
Built in 1972, the property is older than much of the nearby stock, creating clear opportunities for targeted renovations, system upgrades, and common-area refreshes to improve rent positioning versus newer assets. Underwriting should account for competitive lease-up dynamics in this submarket and a safety profile that trails national percentiles, balanced against strong amenity access, rising incomes, and a high-cost ownership market that reinforces rental demand.
- Urban Core location with top-tier amenity density supporting steady renter demand
- High renter concentration and projected household growth within 3 miles expand the tenant base
- 1972 vintage enables value-add through renovations and modernization to compete with newer stock
- High-cost ownership environment supports pricing power and lease retention for well-positioned units
- Risks: below-median neighborhood occupancy and safety metrics require disciplined operations and targeted improvements