| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 26th | Poor |
| Amenities | 25th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12805 NW 27th Ave, Miami, FL, 33167, US |
| Region / Metro | Miami |
| Year of Construction | 2012 |
| Units | 24 |
| Transaction Date | 2004-04-05 |
| Transaction Price | $11,250,000 |
| Buyer | OLCDC WESTVIEW TERRACE II LLC |
| Seller | WESTVIEW TERRACE APARTMENTS LLC |
12805 NW 27th Ave Miami Multifamily Investment
Neighborhood occupancy is in the mid-90s, pointing to steady leasing fundamentals for this 24-unit asset, according to WDSuite s CRE market data. Newer construction relative to nearby stock helps competitive positioning and reduces near-term obsolescence risk.
The property sits in an inner-suburb location of Miami with day-to-day conveniences nearby. Grocery availability ranks competitive among 449 Miami-Miami Beach-Kendall neighborhoods, while restaurants are present but not a major draw. Parks, pharmacies, cafes, and childcare are limited locally, so residents may rely on neighboring districts for those amenities.
Construction trends favor newer assets here: the average neighborhood vintage is 1983, and this property s 2012 delivery positions it as relatively modern versus a large portion of the surrounding stock. That typically supports leasing and reduces immediate capex needs versus older comparables, though periodic system upgrades and common-area refreshes may still be warranted over a hold period.
Renter-occupied housing makes up 42.7% of neighborhood units, offering a meaningful tenant base for multifamily demand. Neighborhood occupancy ranks above the metro median (212 out of 449), indicating stable utilization of existing units and potential support for pricing discipline during renewals.
Within a 3-mile radius, demographic data show a modest population contraction in the recent period alongside growth in households, implying smaller average household sizes. Forward-looking projections point to population and household growth by 2028, which would expand the renter pool and support occupancy stability if realized. Home values sit in the national upper half and, paired with a higher value-to-income profile, indicate a relatively high-cost ownership market that can reinforce reliance on rental housing and aid lease retention for well-positioned properties.
Safety indicators are mixed relative to peers. The neighborhood s overall crime rank is 194 out of 449 in the Miami-Miami Beach-Kendall metro, placing it below the metro median for safety. Compared with neighborhoods nationwide, safety percentiles sit below the national median, signaling that investors should underwrite prudent security and lighting standards.
Recent momentum is constructive: estimated property offenses declined about a third year over year and violent incidents also trended lower, trends that compare favorably versus national peers. While conditions can vary block to block, the directional improvement suggests risk management measures are having effect and may support tenant retention over time.
Nearby employers span healthcare, energy, logistics, homebuilding, and industrials, supporting a diverse workforce renter base and commute convenience for residents. Notable names include Johnson & Johnson, World Fuel Services, Ryder System, Mosaic, and Lennar.
- Johnson & Johnson — healthcare & consumer health (3.5 miles)
- World Fuel Services — energy & logistics (8.9 miles) — HQ
- Ryder System — logistics & fleet management (9.0 miles) — HQ
- Mosaic — chemicals & industrials office (9.3 miles)
- Lennar — homebuilding corporate offices (11.2 miles) — HQ
Delivered in 2012, the asset is newer than the area s average vintage, offering relative competitiveness against older product and potentially lower near-term capital needs. Neighborhood occupancy stands at 95.5% and ranks above the metro median, suggesting a stable baseline for lease-up and renewals. According to CRE market data from WDSuite, ownership costs in the area are elevated versus incomes, which can sustain rental demand for well-maintained multifamily assets.
Within a 3-mile radius, recent data indicate a shift toward more households even as population was flat to slightly down, with projections calling for population and income growth through 2028. This supports a larger tenant base over time. Investors should still underwrite resident affordability carefully (rent-to-income around 30%), and consider localized amenity gaps and safety variation in operations and marketing plans.
- Newer 2012 vintage versus neighborhood average supports competitive positioning and moderates near-term capex
- Neighborhood occupancy near mid-90s and above metro median supports leasing stability
- 3-mile projections show population and income growth, expanding the renter pool
- Elevated ownership costs reinforce reliance on rentals, aiding retention and pricing power
- Risks: resident affordability management (c. 30% rent-to-income), limited nearby amenities, and below-median safety metrics