| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 14th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15005 NE 6th Ave, Miami, FL, 33161, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 48 |
| Transaction Date | 2018-03-07 |
| Transaction Price | $5,500,000 |
| Buyer | 15005 NMB, LLC |
| Seller | Europa Investment, LLC |
15005 NE 6th Ave, Miami Multifamily Investment
Stabilized neighborhood occupancy and a deep renter base support durable cash flow potential, according to WDSuite s CRE market data. Location fundamentals and ownership costs in Miami-Dade reinforce renter reliance on multifamily housing.
The property sits in Miami s Urban Core, where daily needs are convenient and renter demand is broad-based. Neighborhood grocery, park, and pharmacy access rank in the top quartile nationally, while cafes are less dense a mix that supports everyday livability and resident retention without overreliance on discretionary venues, based on commercial real estate analysis from WDSuite.
Neighborhood occupancy is 95.8% and has improved over the past five years, indicating stable leasing conditions at the neighborhood level rather than the property specifically. Within the Miami Miami Beach Kendall metro, the area s overall neighborhood rating is B 1 and its composite rank is 240 among 449 neighborhoods, placing it around the metro median and competitive with many infill subareas.
Tenure patterns show a meaningful concentration of renter-occupied housing units, with the broader 3-mile radius close to parity between renters and owners. Elevated home values relative to incomes in the neighborhood (high by national comparison) tend to sustain the renter pool, supporting depth of demand and lease retention for workforce-oriented assets.
Demographics aggregated within a 3-mile radius point to a larger household base over the next five years alongside smaller average household sizes, which typically expands the renter pool and supports occupancy stability. School ratings trend below national norms, which can influence unit mix performance for family renters, but proximity to employment and daily services often offsets this for adult and workforce demographics.
Vintage context: the surrounding housing stock skews mid-century (average 1966), while this asset s 1972 construction is slightly newer than the neighborhood norm a position that can remain competitive versus older properties, though investors should still plan for system upgrades and modernization to meet current renter expectations.
Safety indicators are mixed. Within the Miami Miami Beach Kendall metro, the neighborhood s crime rank is above the metro median (ranked 306 out of 449 neighborhoods), while it sits below the national median by percentile. Notably, both violent and property offense rates have improved year over year in the neighborhood, an encouraging trend to monitor for long-term stability.
Investors should underwrite with awareness of the metro-vs-national gap while acknowledging the recent downward trend in estimated incident rates, using block-level diligence as part of standard on-the-ground verification.
Nearby corporate offices create a diversified employment base that supports commuter convenience and renter demand, led by pharmaceuticals, industrials, energy logistics, transportation, and automotive retail.
- Johnson & Johnson pharmaceuticals (6.9 miles)
- Mosaic fertilizers & chemicals (8.1 miles)
- World Fuel Services energy logistics (12.6 miles) HQ
- Ryder System transportation & logistics (12.7 miles) HQ
- AutoNation automotive retail (14.4 miles) HQ
This 48-unit, 1972-vintage asset benefits from neighborhood-level occupancy near the mid-90s and a renter pool reinforced by elevated ownership costs relative to incomes. According to CRE market data from WDSuite, the neighborhood s access to essential amenities (groceries, parks, pharmacies) ranks strong nationally, supporting retention and day-to-day livability. Slightly newer-than-average vintage versus nearby stock creates a platform for targeted upgrades that can sharpen competitive positioning.
Within a 3-mile radius, projections point to more households and smaller household sizes over the next five years a setup that typically expands the renter base and supports occupancy stability. Underwriting should account for affordability pressure (higher rent-to-income dynamics) and school ratings below national norms, as well as a safety profile that is stronger than many metro peers but below national medians, alongside improving year-over-year trends.
- Stable neighborhood demand with occupancy around the mid-90s, supporting consistent leasing
- Amenity-rich daily needs access that underpins retention and pricing power
- 1972 vintage offers value-add potential to outperform older local comparables
- 3-mile outlook shows more households and smaller sizes, expanding the renter pool
- Risks: affordability pressure, below-national school ratings, and safety that trails national medians despite recent improvements