| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Poor |
| Demographics | 26th | Poor |
| Amenities | 25th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1250 NW 79th St, Miami, FL, 33147, US |
| Region / Metro | Miami |
| Year of Construction | 2004 |
| Units | 20 |
| Transaction Date | 2021-12-21 |
| Transaction Price | $18,672,400 |
| Buyer | 1320 NW 79TH STREET FL OWNER LLC |
| Seller | HIBISCUS POINTE ASSOCIATES LTD |
1250 NW 79th St Miami Multifamily Investment
2004 vintage in an inner-suburb location with a deep renter base supports leasing durability relative to older nearby stock, according to WDSuite’s CRE market data. Neighborhood occupancy has been steady and grocery access is strong, suggesting demand resilience even as amenity depth varies.
Located in Miami’s inner suburbs, the property benefits from proximity to daily needs with grocery access that ranks high versus the broader region while cafes, parks, and pharmacies are limited. School ratings in the area trend below metro and national norms, which may influence family-oriented demand but does not typically deter workforce renters seeking proximity and value.
The surrounding neighborhood skews renter-occupied, indicating a sizable tenant base for multifamily. Within a 3-mile radius, demographic statistics show a stable population today and projections for additional households over the next five years, pointing to a larger tenant pool and potential support for occupancy stability. Household sizes are expected to edge down, which can lift demand for individual rental units.
With a median construction year in the neighborhood well before 2000, a 2004 build is newer than much of the local stock. That positioning can help compete for tenants seeking more modern layouts and systems, though investors should plan for mid-life capital items and selective renovations to maintain competitiveness.
Home values in the neighborhood are elevated relative to local incomes, which reinforces reliance on multifamily housing and can support retention. At the same time, rent-to-income levels in the area sit on the more manageable side nationally, a dynamic that can aid lease renewals and reduce turnover risk. These factors, combined with solid grocery access and a renter-occupied housing mix, make the location competitive among Miami neighborhoods for workforce-oriented demand.
Crime metrics for the neighborhood are weaker than the metro average, placing it in the lower tier among 449 Miami-area neighborhoods and below most neighborhoods nationally. Investors should underwrite with conservative assumptions around security, lighting, and site operations, especially for common areas and parking.
Recent trends show improvement: property and violent offense rates both declined year over year, according to WDSuite’s CRE market data. While these are encouraging directional signs, risk remains elevated compared with national percentiles, so active management and coordination with local resources are prudent.
The employment base nearby mixes healthcare, energy logistics, transportation, and homebuilding corporate offices, supporting workforce housing demand and commute convenience for renters. Nearby anchors include Johnson & Johnson, Mosaic, World Fuel Services, Ryder System, and Lennar.
- Johnson & Johnson — healthcare products (6.3 miles)
- Mosaic — chemicals and fertilizers (6.4 miles)
- World Fuel Services — energy logistics (8.8 miles) — HQ
- Ryder System — logistics & transportation (10.5 miles) — HQ
- Lennar — homebuilding (10.6 miles) — HQ
Built in 2004, this 20-unit property is newer than much of the surrounding housing stock, offering a relative edge in unit quality and systems versus older assets. The neighborhood shows steady occupancy with a high share of renter-occupied housing, and 3-mile demographics point to household growth and a gradually expanding renter pool—constructive for demand, renewals, and pricing discipline. Based on CRE market data from WDSuite, grocery access is a local strength while other amenities are thinner, suggesting value-oriented positioning.
Ownership costs in the area are comparatively high relative to incomes, which supports renter reliance on multifamily housing and can help sustain occupancy. Rents and household incomes in the 3-mile radius have trended upward and are projected to continue rising, which can underpin revenue growth if paired with measured upgrades. Given the asset’s mid-2000s vintage, investors should budget for mid-life capital items and targeted renovations to sustain competitiveness.
- Newer 2004 vintage versus older neighborhood stock supports leasing and competitive positioning
- Deep renter-occupied housing mix and projected household growth point to a larger tenant base
- Elevated ownership costs and improving incomes reinforce multifamily demand and retention potential
- Value-add opportunity via selective unit and common-area upgrades to capture rent growth
- Risks: weaker safety metrics and thinner amenity mix require active management and underwriting discipline