| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 29th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1970 NW 7th St, Miami, FL, 33125, US |
| Region / Metro | Miami |
| Year of Construction | 2009 |
| Units | 25 |
| Transaction Date | 2018-12-12 |
| Transaction Price | $4,515,000 |
| Buyer | BEDFORD MADISON |
| Seller | LA VEREDITA VIII LLC |
1970 NW 7th St, Miami Multifamily Investment
Neighborhood occupancy is strong at 98.5%, supporting income stability for well-managed assets, according to WDSuite’s CRE market data. The area also shows a very high renter concentration, indicating a deep tenant base for multifamily operators.
Situated in Miami’s Urban Core, the property benefits from a neighborhood rated A- and ranked 112 out of 449 metro neighborhoods, placing it competitive among Miami neighborhoods. Amenity access is a clear strength: grocery, restaurant, and pharmacy density rank within the top cohort locally and sit in high national percentiles, supporting day-to-day convenience and renter retention. Park access is limited, which may modestly constrain outdoor recreation options.
Renter demand signals are favorable. Neighborhood occupancy at 98.5% ranks 66 of 449 (top quartile among Miami neighborhoods) and is in the 92nd percentile nationally, indicating tight leasing conditions. The share of renter-occupied housing units is among the highest in the metro (ranked 8 of 449), pointing to a large pool of renters and potential depth for leasing. Median contract rents in the neighborhood track above many U.S. locations, while rent-to-income ratios suggest some affordability pressure that owners should manage through disciplined renewal strategies.
Within a 3-mile radius, demographics show steady population growth over the last cycle and a larger increase in households, with average household size trending smaller. This combination typically expands the renter pool and can support occupancy stability and absorption for professionally operated buildings. Forward-looking data indicates continued growth in households with rising incomes, reinforcing demand for well-located rentals.
Housing costs in the area are elevated relative to local incomes (high value-to-income ratios and above-average home values), which tends to sustain reliance on multifamily rentals and can support pricing power. The average neighborhood construction year is older than the subject’s 2009 vintage, suggesting newer product like this can compete well for tenants even as systems age and periodic modernization may be warranted. These dynamics are based on commercial real estate analysis sourced from WDSuite.
Crime conditions are mixed but improving. Overall neighborhood crime trends sit around the middle of the pack nationally, while the area ranks 154 out of 449 among Miami neighborhoods, indicating it is near the metro median. Importantly, both violent and property offense rates have declined over the most recent year, an encouraging directional signal for operators focused on tenant retention.
Nationally benchmarked, recent one-year changes show meaningful decreases in both violent and property offenses, aligning with improvement percentiles that are better than many neighborhoods nationwide. As always, investors should assess property-level security measures and coordinate with local management to maintain resident confidence.
The employment base combines corporate offices and headquarters within a commutable radius, supporting workforce housing demand and lease retention for nearby multifamily. Notable nearby employers include Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — corporate offices (6.9 miles)
- World Fuel Services — corporate offices (8.2 miles) — HQ
- Lennar — corporate offices (8.8 miles) — HQ
- Johnson & Johnson — corporate offices (9.6 miles)
- Ryder System — corporate offices (11.6 miles) — HQ
Built in 2009 with 25 units, the property is newer than the neighborhood’s older housing stock, offering competitive positioning versus legacy assets while leaving room for targeted updates over time. High neighborhood occupancy and one of the Miami metro’s highest renter-occupied shares point to a deep tenant base and durable leasing fundamentals, according to CRE market data from WDSuite.
Amenity-rich urban location, elevated ownership costs relative to incomes, and household growth within a 3-mile radius support ongoing rental demand and retention. Operators should balance pricing power with rent-to-income realities to sustain renewals and stabilize cash flow through cycles.
- Newer 2009 vintage versus area average, with potential to outperform older stock through selective modernization
- Tight neighborhood occupancy and high renter-occupied share support leasing stability and absorption
- Amenity-dense Urban Core location underpins retention and day-to-day convenience for residents
- Elevated ownership costs reinforce reliance on rentals, supporting long-run demand
- Risk: rent-to-income pressure requires disciplined renewal strategy and expense control