| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 29th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1401 W Flagler St, Miami, FL, 33135, US |
| Region / Metro | Miami |
| Year of Construction | 2010 |
| Units | 100 |
| Transaction Date | 2008-06-13 |
| Transaction Price | $2,900,000 |
| Buyer | CAMACOL TOWER LTD |
| Seller | ESTADOS CAMARA DE COMERICO LATINA DE LOS |
1401 W Flagler St Miami Multifamily Investment
Neighborhood occupancy remains tight and renter demand is deep, according to WDSuite’s CRE market data, supporting stable operations for a 2010-vintage asset in Miami’s urban core. High renter concentration and strong amenity access point to resilient leasing even through cycles.
This Urban Core neighborhood carries an A- rating and ranks in the top quartile among 449 metro neighborhoods, signaling durable fundamentals for workforce and market-rate renters. Amenity access is a clear strength: restaurants, grocery, pharmacies, cafes, and childcare density all sit in the upper national percentiles, reinforcing day-to-day convenience and supporting tenant retention. The tradeoff is limited park access locally, which investors should weigh in positioning and resident-experience programming.
Occupancy for the neighborhood is strong and has strengthened over the past five years, landing in the 92nd percentile nationally for stabilized occupancy. Renter-occupied share within the neighborhood is very high, indicating a deep tenant base for multifamily. At the same time, the neighborhood’s average NOI per unit trends above the national median, underscoring income resilience relative to many U.S. submarkets, based on CRE market data from WDSuite.
Within a 3-mile radius, population has grown modestly in recent years with forecasts pointing to continued population growth and a pronounced increase in households alongside smaller average household size. That combination typically expands the renter pool and supports occupancy stability, especially for well-located mid-rise product near employment and services.
Home values in the neighborhood are elevated relative to local incomes, a high-cost ownership backdrop that tends to sustain reliance on rental housing and can support pricing power for competitively positioned assets. However, rent-to-income levels point to some affordability pressure, suggesting careful lease management and amenity-value delivery to maintain retention. The property’s 2010 construction is newer than the area’s older housing stock (average vintage around 1970), which can enhance competitive positioning versus legacy assets while still warranting routine system updates and selective modernization to defend rents.
Safety trends are mixed but improving on a year-over-year basis. Neighborhood crime sits roughly around the metro middle, ranking 154 out of 449 Miami-area neighborhoods. Compared with neighborhoods nationwide, indices land below the national median; however, both violent and property offense rates have posted meaningful year-over-year declines, which is directionally supportive for long-term neighborhood perception, per WDSuite.
Investors should frame safety as a comparative input rather than a block-level assertion, monitor ongoing trendlines, and incorporate standard security, lighting, and access-control measures to support tenant retention.
Proximity to corporate offices supports commute convenience and a steady renter pipeline, led by Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — corporate offices (6.5 miles)
- World Fuel Services — corporate offices (8.9 miles) — HQ
- Lennar — corporate offices (9.5 miles) — HQ
- Johnson & Johnson — corporate offices (10.2 miles)
- Ryder System — corporate offices (12.3 miles) — HQ
1401 W Flagler St combines a 2010 vintage with urban-core access and a renter-heavy neighborhood, supporting occupancy stability and income durability. Elevated ownership costs relative to incomes reinforce reliance on multifamily housing, while dense retail, grocery, and services bolster day-to-day convenience and lease retention. According to CRE market data from WDSuite, neighborhood occupancy is high on a national basis and NOI per unit trends above national medians, aligning with steady demand for well-located product.
Forward-looking demographics within a 3-mile radius point to continued population growth and a faster increase in households alongside smaller household sizes, expanding the renter pool over time. Investors should still plan for affordability-sensitive leasing strategies and ongoing system updates typical for a 2010 asset to preserve competitiveness against new deliveries.
- Tight neighborhood occupancy and high renter-occupied share support stable leasing
- 2010 construction offers relative competitive edge versus older local stock
- Dense retail and services enhance resident convenience and retention
- Household growth and smaller household sizes expand the future renter pool (3-mile radius)
- Risks: affordability pressure, limited nearby parks, and safety metrics below national median despite recent improvement