| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 33rd | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2110 SW 3rd Ave, Miami, FL, 33129, US |
| Region / Metro | Miami |
| Year of Construction | 1994 |
| Units | 44 |
| Transaction Date | 2018-06-21 |
| Transaction Price | $12,825,000 |
| Buyer | TMC APARTMENTS LLC |
| Seller | DALTON PROPERTIES INC |
2110 SW 3rd Ave Miami Multifamily Investment
High renter concentration and amenity density in this Urban Core pocket support steady neighborhood occupancy, according to WDSuite’s CRE market data. The area’s elevated ownership costs further reinforce sustained rental demand dynamics rather than property-level guarantees.
Located in Miami’s Urban Core, the neighborhood carries a B+ rating and ranks 140 out of 449 metro neighborhoods—competitive among Miami-Miami Beach-Kendall submarkets. Amenity access is a clear strength: restaurants and cafes score in the mid-90s national percentiles, with strong grocery and pharmacy coverage as well. Park density is limited, typical of dense infill locations, so lifestyle appeal leans more toward walkable services and dining than green space.
Neighborhood occupancy sits near the metro median, while the share of renter-occupied housing is high (top national percentile), signaling a deep tenant base for multifamily assets. Median contract rents have risen over the last five years, and, paired with elevated home values, this Urban Core context generally supports lease-up and retention for well-positioned units.
Within a 3-mile radius, WDSuite data indicates population growth over the past five years alongside a larger increase in households, pointing to smaller average household sizes and a broader renter pool. Forward-looking projections also show continued household expansion through 2028, which typically supports occupancy stability and leasing velocity for well-maintained properties.
Home values in the neighborhood are elevated relative to incomes (high national percentile for value-to-income), framing a high-cost ownership market that tends to sustain reliance on multifamily rentals. School ratings in this area sit in the lowest national percentiles, which may matter for family-oriented demand, but proximity to jobs and services often anchors renter appeal in the Urban Core.
Safety indicators are mixed. The neighborhood’s overall crime measures fall in lower national percentiles (e.g., around the 32nd percentile nationwide is less favorable), but recent trends show incremental improvement, with both property and violent offense rates decreasing year over year according to CRE market data from WDSuite. National percentiles compare neighborhoods across the country and are not block-level assessments; investors typically consider these signals alongside amenity access and workforce proximity.
At the metro level, conditions vary widely across Miami neighborhoods, and this Urban Core pocket reflects that variability. Monitoring trend direction and on-the-ground management practices can help mitigate risks and support tenant retention.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, including Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — corporate offices (6.3 miles)
- World Fuel Services — energy logistics (10.0 miles) — HQ
- Lennar — homebuilding (10.4 miles) — HQ
- Johnson & Johnson — healthcare & consumer (11.6 miles)
- Ryder System — transportation & logistics (13.6 miles) — HQ
Built in 1994, the asset is newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while still leaving room for targeted upgrades to systems and finishes as part of a value-focused plan. The surrounding Urban Core shows strong renter-occupied share and amenity density, which together underpin demand depth and support occupancy stability in line with broader Miami trends.
Within a 3-mile radius, population has grown and households have expanded more quickly, indicating a larger tenant base and smaller average household sizes that often favor multifamily leasing. Elevated home values relative to incomes suggest a high-cost ownership market that can sustain rental demand; however, rent-to-income levels imply affordability pressure that calls for careful lease management and pricing discipline. According to CRE market data from WDSuite, neighborhood occupancy is near the metro median, making operational execution and unit quality important differentiators.
- 1994 vintage offers competitive positioning versus older stock with potential renovation upside
- High renter-occupied housing share indicates deep tenant base supporting leasing
- 3-mile radius shows population and household growth, reinforcing demand and occupancy stability
- Elevated ownership costs in the area sustain reliance on multifamily rentals and retention
- Risks: affordability pressure (rent-to-income), limited park access, and mixed safety indicators require active management