| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 49th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1616 NW 19th Ter, Miami, FL, 33125, US |
| Region / Metro | Miami |
| Year of Construction | 1989 |
| Units | 40 |
| Transaction Date | 2011-10-21 |
| Transaction Price | $2,300,000 |
| Buyer | 1616 TERRACE APARTMENTS LLC |
| Seller | WELLNAT ENTERPRISES INC |
1616 NW 19th Ter Miami Multifamily Investment
Neighborhood renter concentration is high and occupancy has held firm at the neighborhood level, signaling durable tenant demand, according to WDSuite’s CRE market data. Elevated ownership costs nearby further support leasing stability for well-managed units.
Situated in Miami’s Urban Core, the property benefits from a neighborhood that ranks among the top quartile of the metro’s 449 neighborhoods for overall quality, with amenities that perform strongly on a national basis. Parks, pharmacies, restaurants, cafes, and grocery options are dense for an urban setting (amenities score in the mid-90s nationally), supporting day-to-day convenience and renter retention.
At the neighborhood level, occupancy has been in a healthy band and improved over the last five years, while the share of housing units that are renter-occupied is substantial. For investors, that depth of renter demand typically broadens the tenant base and supports leasing continuity across market cycles.
Within a 3-mile radius, demographics indicate modest recent population growth and a notable increase in households, with projections calling for additional household gains over the next five years. A growing household base generally points to a larger tenant pool and can support occupancy stability for competitively positioned assets.
Home values in the neighborhood are elevated versus many U.S. locations, which tends to reinforce reliance on multifamily rentals and can sustain pricing power when units are appropriately finished and managed. That said, rent-to-income levels in the area suggest some affordability pressure, so disciplined lease management and value-oriented unit finishes are important to maintain retention.
Safety indicators for the neighborhood trail the metro and national averages. The neighborhood’s crime rank sits near the lower end among 449 metro neighborhoods, and national comparisons place it in a weaker safety percentile. Investors should underwrite prudent security measures and operational controls, especially for common areas and access management.
Recent trends are mixed: estimated property offenses have eased year over year, while estimated violent offenses increased over the same period. Monitoring local trendlines and coordinating with management to maintain visibility, lighting, and responsive maintenance can help support resident confidence and retention over time.
Proximity to corporate offices supports a commuter-friendly renter base and can aid weekday occupancy and retention. Nearby employers include Mosaic, World Fuel Services, Johnson & Johnson, Lennar, and Ryder System.
- Mosaic — corporate offices (6.3 miles)
- World Fuel Services — corporate offices (8.4 miles) — HQ
- Johnson & Johnson — corporate offices (8.9 miles)
- Lennar — corporate offices (9.3 miles) — HQ
- Ryder System — corporate offices (11.4 miles) — HQ
This 40-unit Miami asset is positioned in a high-amenity Urban Core neighborhood that ranks competitively in the metro and performs well on national amenity measures. At the neighborhood level, occupancy has remained resilient with a substantial share of renter-occupied housing, indicating a deep tenant base. Elevated home values in the area bolster reliance on rentals, which can support pricing and leasing consistency when units are maintained to market expectations.
According to CRE market data from WDSuite, neighborhood fundamentals—strong amenity access, stable occupancy, and a large renter pool—compare favorably with broader metro patterns. Near-term risk centers on affordability pressure (higher rent-to-income ratios) and safety readings below metro norms, which call for conservative underwriting, focused resident services, and security-minded operations.
- Urban Core location with top-quartile amenities supporting retention
- Neighborhood occupancy stability and high renter-occupied share deepen tenant base
- Elevated local home values reinforce sustained multifamily demand
- Proximity to major corporate offices supports commuter demand
- Risks: affordability pressure and below-metro safety metrics require disciplined management