| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 14th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15401 NE 6th Ave, Miami, FL, 33162, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 88 |
| Transaction Date | 2011-10-24 |
| Transaction Price | $14,200,000 |
| Buyer | RYAN 15401 6 AVE LLC |
| Seller | 15401 6TH AVENUE LLC |
15401 NE 6th Ave, Miami FL Multifamily Investment
Neighborhood occupancy trends point to durable renter demand and above-median stability for Miami, according to WDSuite’s CRE market data. For investors, the area’s high occupancy and steady leasing backdrop support underwriting focused on consistent cash flow rather than aggressive lease-up assumptions.
The property sits within an Urban Core neighborhood rated B- that performs above the metro median for occupancy and lands in the top quartile nationally for stabilized renter demand. Median contract rents in the neighborhood have advanced over the past cycle, while rent-to-income levels suggest some affordability pressure that calls for disciplined lease management and renewal strategies.
Daily-needs access is a local strength: grocery, parks, and pharmacies rank in the upper national percentiles, and restaurants are well represented. Café density is lighter, but childcare availability is comparatively strong. These amenity patterns point to resilient everyday convenience that can aid retention even through cycles.
Tenure patterns indicate a meaningful renter base: within the neighborhood, about 44% of housing units are renter-occupied, supporting depth for multifamily demand. Within a 3-mile radius, roughly half of housing units are renter-occupied, creating a broad pool of prospective tenants across asset classes and price points.
Demographics aggregated within a 3-mile radius show households increased over the last five years and are projected to continue rising, even as average household size trends smaller. That combination typically expands the renter pool and supports occupancy stability. Elevated home values relative to local incomes signal a high-cost ownership market, which tends to reinforce reliance on multifamily housing and can support pricing power for well-managed assets. This commercial real estate analysis is underpinned by market context from WDSuite.
Vintage matters for investment planning: the asset’s 1972 construction is older than much of the new supply coming online across the metro, implying potential value-add or systems modernization opportunities to enhance competitiveness against newer stock.
Safety indicators for the neighborhood track below the metro median and sit below the national average; however, recent trends show improvement, with both property and violent offense estimates declining year over year. In metro context (449 neighborhoods), the area ranks in the lower half for safety, while nationally it sits below mid-percentile ranges. For investors, this suggests underwriting that factors in security enhancements and active property management, balanced by the noted downward trend in reported incidents.
Proximity to diversified corporate employment supports workforce housing demand and commuter convenience, notably in healthcare, energy logistics, transportation, and corporate services. The following nearby employers anchor the area’s job base and can aid leasing durability.
- Johnson & Johnson — healthcare products (6.9 miles)
- Mosaic — chemicals & basic materials (8.3 miles)
- World Fuel Services — energy logistics (12.8 miles) — HQ
- Ryder System — transportation & logistics (12.8 miles) — HQ
- AutoNation — automotive retail (14.2 miles) — HQ
This 88-unit, 1972-vintage asset in Miami’s Urban Core benefits from a neighborhood that is above the metro median for occupancy and in the top quartile nationally for stabilized renter demand. Amenity access is a clear positive (strong grocery, parks, pharmacies, and restaurants), and proximity to diversified employers underpins a broad tenant base. According to CRE market data from WDSuite, neighborhood rents have advanced over the cycle while value-to-income dynamics indicate a high-cost ownership market that can support sustained rental demand.
The primary levers are operational discipline and selective capital improvements. Older vintage suggests value-add and systems modernization potential to sharpen competitive position against newer deliveries. Key risks to underwrite include below-median safety metrics and affordability pressure (elevated rent-to-income), which argue for prudent screening, security investments, and measured rent setting to support retention.
- Occupancy above metro median and top quartile nationally supports cash flow stability
- Strong daily-needs amenities and employer proximity aid leasing durability
- 1972 vintage offers value-add and systems modernization pathways
- High-cost ownership market reinforces multifamily demand and pricing power
- Risks: below-median safety and rent-to-income pressure require disciplined management