| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 49th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2170 NW 11th St, Miami, FL, 33125, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | $1,280,000 |
| Buyer | CHASE HOLDINGS INC |
| Seller | RENEDO APARTMENTS INC |
2170 NW 11th St Miami Value-Add Multifamily
Renter demand is supported by a deep tenant base and amenity-rich Urban Core positioning, according to WDSuite’s CRE market data. The neighborhood’s occupancy has trended upward, reinforcing a stable backdrop for a 1972 vintage asset with value-add potential.
Located in Miami’s Urban Core, the neighborhood holds an A rating and ranks 26 out of 449 metro neighborhoods—competitive among Miami–Miami Beach–Kendall submarkets for multifamily fundamentals. Amenity access is a distinguishing strength: parks and pharmacies score in the top quartile nationally, with dining and grocery options also comparing favorably versus most neighborhoods nationwide. These location fundamentals typically aid leasing velocity and day-to-day resident convenience.
The area exhibits a high share of renter-occupied housing (neighborhood tenure data indicate a renter concentration well above the metro median), translating into a broad tenant pool and depth for mid-scale multifamily assets. Neighborhood occupancy sits in the low-to-mid 90s and has improved over the past five years, supporting expectations for demand stability relative to the wider metro, based on CRE market data from WDSuite.
Within a 3-mile radius, households increased over the last five years and are projected to continue rising, even as average household size trends lower. This mix—more households and smaller sizes—generally supports multifamily absorption by expanding the renter pool and sustaining occupancy. Forecasts point to further renter pool expansion and higher incomes in the near term, which can underpin renewal rates and measured rent growth when paired with prudent lease management.
Ownership costs in the neighborhood are elevated relative to incomes (home values sit high by national comparison), which tends to reinforce reliance on rental housing and can support pricing power for well-positioned properties. At the same time, rent-to-income levels suggest some affordability pressure, making thoughtful concessions strategy and resident retention programs important for maintaining performance.
Vintage and positioning: The property’s 1972 construction is older than the neighborhood’s average vintage. For investors, this points to potential renovation and capital planning needs, but also to value-add upside where targeted unit and system upgrades can differentiate the asset against newer competition.
Safety indicators in this neighborhood trail both metro and national benchmarks. Crime ranks near the bottom among 449 metro neighborhoods, and national comparisons place the area well below the median for safety. For underwriting, this typically argues for enhanced on-site management, lighting, access control, and partnerships with resident services to support retention and minimize disruption risk.
Recent trends are mixed: property-related offenses have edged down year over year, while violent offenses increased over the same period. Investors may want to factor higher operating attention into budgets and emphasize unit and common-area security measures, recognizing that submarket context—not block-level conditions—drives these comparative readings.
Proximity to major employers across energy, homebuilding, healthcare, and logistics supports a steady commuter tenant base and lease retention for workforce-oriented units. Nearby anchors include Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — corporate offices (7.0 miles)
- World Fuel Services — energy & logistics (7.9 miles) — HQ
- Lennar — homebuilding (8.7 miles) — HQ
- Johnson & Johnson — healthcare products (9.3 miles)
- Ryder System — transportation & logistics (11.3 miles) — HQ
2170 NW 11th St offers exposure to Miami’s Urban Core with strong amenity access, a high concentration of renter-occupied housing, and neighborhood occupancy that has improved over the last five years. The 1972 vintage suggests both capital planning requirements and clear value-add pathways through interiors, building systems, and curb appeal—positioning the asset to compete against newer stock while targeting durable tenancy.
According to CRE market data from WDSuite, elevated home values relative to incomes in this neighborhood help sustain multifamily demand by reinforcing renter reliance on apartments. Within a 3-mile radius, household growth and forecast income gains point to a larger tenant base over time, while proximity to multiple regional employers supports commute convenience and leasing stability. Key risks include below-metro safety readings and affordability pressure, which call for vigilant operations and disciplined lease management.
- Urban Core location with top-tier amenity access supports leasing and renewal potential
- High renter-occupied share and improving neighborhood occupancy bolster demand depth
- 1972 vintage enables targeted value-add and system upgrades for competitive positioning
- Elevated ownership costs sustain renter reliance, supporting pricing power with careful execution
- Risks: below-metro safety readings and affordability pressure require proactive management