| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 55th | Good |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12315 SW 151st St, Miami, FL, 33186, US |
| Region / Metro | Miami |
| Year of Construction | 1988 |
| Units | 28 |
| Transaction Date | 2012-12-17 |
| Transaction Price | $70,500,000 |
| Buyer | MREI V EMERALD LLC |
| Seller | ENCOMPASS EMERALD PALMS LLC |
12315 SW 151st St Miami Multifamily Investment
Neighborhood occupancy is strong and consistent, supporting income stability, while the 1988 vintage suggests pragmatic value-add and capital planning opportunities, according to WDSuite’s CRE market data.
This Inner Suburb location in Miami-Dade offers a balanced setup for workforce renters: grocery access is competitive for the metro (high national percentile) even as cafes, restaurants, and parks are relatively sparse within the neighborhood itself. For investors, that mix points to everyday convenience while signaling limited lifestyle destinations immediately nearby.
Occupancy for the neighborhood is robust and in the top quartile among 449 metro neighborhoods, a positive indicator for lease-up and renewal prospects. Neighborhood-level NOI per unit performance also trends in the top quartile nationally, based on CRE market data from WDSuite, reinforcing the area’s ability to support stabilized operations when assets are positioned correctly.
With a median construction year near the early 1990s locally, a 1988 asset is slightly older than the neighborhood average. That typically points to targeted value-add—unit refreshes, common-area upgrades, and systems modernization—to remain competitive versus newer stock while preserving operating margins.
Tenure dynamics indicate a meaningful renter-occupied share at the neighborhood level, which supports a deeper tenant base; nearby 3-mile demographics show a larger share of owner-occupied housing, suggesting some competition from ownership options. Aggregated within a 3-mile radius, recent years saw a modest population dip but an increase in households and families, implying smaller household sizes and a potential expansion of the renter pool. Forward-looking 3-mile projections anticipate additional household growth, which can support occupancy stability and steady demand for rental units.
Home values in the neighborhood are elevated by national comparison, which, alongside rising household incomes within 3 miles, tends to support renter retention and pricing power for well-managed properties. Neighborhood rent levels and a rent-to-income profile indicate some affordability pressure, suggesting that revenue strategy should emphasize renewal management and resident retention to sustain occupancy.
Relative to the Miami-Miami Beach-Kendall metro, this neighborhood’s safety profile trends below the metro median (crime rank near the bottom quartile among 449 metro neighborhoods). Nationally, the neighborhood sits below mid-pack for safety, indicating that investors should underwrite with prudent assumptions for security measures and potential operating expenses.
Recent trends show increases in both property and violent offense estimates versus the prior year. While crime can vary block to block, investors typically address this with lighting, access control, and community engagement. Monitoring metro and neighborhood trendlines, and aligning on insurer and lender requirements, can help manage risk without over-penalizing the underwriting.
Proximity to major corporate offices across construction, energy logistics, transportation, healthcare, and materials underpins a diversified employment base that supports renter demand and commute convenience for residents. Featured employers include Lennar, World Fuel Services, Ryder System, Johnson & Johnson, and Mosaic.
- Lennar — homebuilding/corporate (10.3 miles) — HQ
- World Fuel Services — energy & fuel logistics (12.8 miles) — HQ
- Ryder System — transportation & logistics (16.5 miles) — HQ
- Johnson & Johnson — healthcare/pharma offices (19.9 miles)
- Mosaic — materials & chemicals offices (21.0 miles)
12315 SW 151st St is a 28-unit, 1988-vintage asset positioned in a Miami Inner Suburb where neighborhood occupancy is strong and neighborhood NOI per unit trends in the top quartile nationally. The vintage is slightly older than local averages, creating a clear value-add path through interiors, exteriors, and building systems to remain competitive against newer stock. Elevated ownership costs in the neighborhood reinforce ongoing reliance on multifamily, while 3-mile household growth and rising incomes expand the tenant base and support lease retention. Based on commercial real estate analysis from WDSuite, underwriting can lean on neighborhood stability while planning for targeted renovations and disciplined affordability management.
Key considerations include sustained neighborhood demand, a renter base supported by nearby employment nodes, and an operating plan that addresses modest affordability pressure and a below-metro safety profile. This combination favors experienced operators who balance revenue optimization with prudent expense controls and resident retention.
- Neighborhood occupancy strength supports income stability and renewal performance
- 1988 vintage enables targeted value-add to enhance competitive positioning
- Elevated ownership costs and growing 3-mile households sustain multifamily demand
- Diverse nearby employers underpin tenant demand and retention
- Risks: affordability pressure and below-metro safety profile warrant conservative underwriting