| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 49th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2150 NW 9th St, Miami, FL, 33125, US |
| Region / Metro | Miami |
| Year of Construction | 1973 |
| Units | 62 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2150 NW 9th St Miami Multifamily Investment Opportunity
Renter demand is deep in this Urban Core pocket of Miami, with a high share of renter-occupied housing supporting stable leasing, according to CRE market data from WDSuite. Elevated ownership costs in the surrounding area further reinforce reliance on multifamily housing.
Located in Miami s Urban Core, the property sits in a neighborhood with strong day-to-day convenience: parks, pharmacies, groceries, and dining are dense, with amenities ranking within the top tier among 449 metro neighborhoods and national amenity access in a high percentile. This supports resident retention and reduces friction for lease-up.
The neighborhood s renter concentration is high (renter-occupied share ranks near the top among 449 metro neighborhoods), indicating a sizable tenant base for a 62-unit asset. According to WDSuite s CRE market data, neighborhood occupancy is solid and has improved over the past five years, suggesting resilient demand even through cycles.
Home values in the area are elevated versus national norms, which tends to sustain multifamily demand by making ownership less accessible for many households. At the same time, rent-to-income ratios indicate some affordability pressure, so disciplined pricing and renewal management remain important for maintaining occupancy and minimizing turnover.
Vintage considerations matter: the property s 1973 construction is older than the neighborhood s average vintage. For investors, that points to capital planning needs but also potential value-add through unit and system upgrades to compete against newer stock while targeting the deep local renter pool.
Demographic statistics are aggregated within a 3-mile radius. While total population has been roughly stable recently, households have grown and are projected to expand further as average household size trends lower. This shift typically increases the number of renting households, supporting occupancy stability for well-positioned multifamily assets.
Safety trends should be evaluated carefully. The neighborhood ranks near the bottom for safety relative to 449 metro neighborhoods and sits in lower national percentiles, indicating higher crime exposure than many areas. Year over year, estimated property offenses show a modest decline, while violent offense estimates have increased, underscoring the importance of active security measures and operational vigilance.
For underwriting, investors may consider measures such as lighting, access controls, and partnership with local community initiatives, and compare loss histories and insurance terms to similar Urban Core assets across the Miami metro to contextualize risk and potential mitigation costs.
Proximity to established corporate offices supports a steady commuter renter base and can aid retention. Nearby employers include Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic corporate offices (7.1 miles)
- World Fuel Services corporate offices (8.0 miles) HQ
- Lennar corporate offices (8.6 miles) HQ
- Johnson & Johnson corporate offices (9.4 miles)
- Ryder System corporate offices (11.3 miles) HQ
2150 NW 9th St offers scale for its submarket with 62 units and an average unit size near 1,000 square feet, positioned in a neighborhood that demonstrates durable renter demand. The area s high share of renter-occupied housing and solid neighborhood occupancy trends support leasing stability, while elevated ownership costs in Miami-Dade tilt households toward rental options. According to CRE market data from WDSuite, neighborhood occupancy has improved over the past five years, reinforcing income durability for well-managed assets.
Constructed in 1973, the asset is older than the neighborhood s average vintage, pointing to capital planning and value-add potential through targeted renovations and building-system upgrades. Within a 3-mile radius, households have increased and are projected to expand further as average household size declines, indicating a larger tenant base over time. Affordability pressure is present, so thoughtful rent-setting and renewal strategies will be key to balancing occupancy and pricing power.
- Deep renter base and improving neighborhood occupancy support leasing stability
- Elevated ownership costs in Miami-Dade reinforce reliance on multifamily housing
- 1973 vintage offers value-add potential via unit and system upgrades
- 3-mile household growth and smaller household sizes expand the renter pool
- Risk: affordability pressure and area safety trends require disciplined operations and underwriting