| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 49th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1531 NW 16th Ave, Miami, FL, 33125, US |
| Region / Metro | Miami |
| Year of Construction | 1986 |
| Units | 49 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1531 NW 16th Ave Miami Multifamily Investment
Renter concentration in the surrounding neighborhood is high and occupancy has been resilient, according to WDSuite’s CRE market data, supporting steady tenant demand for a 49-unit asset. Positioned in Miami s urban core, the property benefits from strong amenity access and a deep local renter base.
This Urban Core location in Miami benefits from dense amenity coverage restaurants, groceries, parks, and pharmacies are all plentiful at the neighborhood level, with amenity access scoring in the top quartile nationally. That depth of daily-needs retail and services typically supports leasing velocity and reduces dependency on long commutes for residents.
At the neighborhood level, the share of housing units that are renter-occupied is among the highest in the metro and in the top percentile nationally, pointing to a deep tenant base and durable multifamily demand. Neighborhood occupancy has trended upward over the past five years, supporting stable operations for well-managed assets.
Within a 3-mile radius, demographics show modest population growth and a notable increase in households alongside smaller average household sizes. That mix generally expands the renter pool and supports ongoing demand for apartments, especially for efficiently sized units.
The property s 1986 vintage is slightly older than the neighborhood s average construction year. Investors should plan for selective capital improvements and modernization to sharpen competitive positioning against newer stock while capturing value-add upside where finishes and systems warrant upgrades.
Home values at the neighborhood level are elevated relative to local incomes, creating a high-cost ownership market. This context typically sustains reliance on multifamily housing and can support pricing power, though lease management should account for affordability pressure that can influence retention.
Safety indicators at the neighborhood level trail national comparisons, and the area ranks near the bottom among 449 metro neighborhoods. That said, recent data shows property-related offenses moving modestly lower year over year, suggesting some improvement in trends. Investors should underwrite with prudent security measures and resident-experience initiatives appropriate for an urban core location.
Nearby corporate offices help anchor employment and support renter demand through commute convenience. Key employers within a reasonable radius include Mosaic, World Fuel Services, Johnson & Johnson, Lennar, and Ryder System.
- Mosaic corporate offices (6.35 miles)
- World Fuel Services corporate offices (8.44 miles) HQ
- Johnson & Johnson corporate offices (9.19 miles)
- Lennar corporate offices (9.28 miles) HQ
- Ryder System corporate offices (11.57 miles) HQ
1531 NW 16th Ave offers exposure to Miami s urban core with strong amenity access and a renter-heavy neighborhood that supports durable multifamily demand. According to CRE market data from WDSuite, neighborhood occupancy has improved over the past five years, and local NOI performance is competitive nationally, supporting an income-focused thesis for a well-managed, mid-1980s asset.
The 1986 vintage suggests room for targeted value-add and systems modernization to enhance positioning versus newer supply. Within a 3-mile radius, modest population growth and a faster rise in households point to a larger tenant base, while elevated ownership costs in the area tend to sustain reliance on rentals. Key risks include urban-core safety considerations and affordability pressure that can influence retention and leasing strategies.
- Renter-heavy neighborhood supports steady tenant demand and occupancy
- Amenity-rich urban core location aids leasing velocity and retention
- 1986 vintage allows targeted value-add and systems modernization opportunities
- Competitive neighborhood NOI performance bolsters income-oriented underwriting
- Risks: below-average safety metrics and affordability pressure requiring careful lease management