| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Poor |
| Demographics | 23rd | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2320 NW 62nd St, Miami, FL, 33147, US |
| Region / Metro | Miami |
| Year of Construction | 2013 |
| Units | 22 |
| Transaction Date | 1995-08-25 |
| Transaction Price | $545,500 |
| Buyer | MIAMI DADE OCED |
| Seller | FAMILY RESOURCE CENTER OF DADE CNTY INC |
2320 NW 62nd St Miami 22-Unit Multifamily
Neighborhood fundamentals point to steady renter demand, with a renter-occupied share above half of local housing units and occupancy holding in a stable range, according to WDSuite’s CRE market data. This positioning supports durable leasing in an inner-suburb location within Miami-Dade.
Rated B and ranked 209 out of 449 Miami metro neighborhoods, this inner-suburb location sits above the metro median, indicating broadly competitive livability for workforce renters. Neighborhood occupancy trends are near the national middle and have improved modestly over five years, helping support day-to-day leasing stability for multifamily operators.
Amenities skew practical over lifestyle. Pharmacy access tracks in the top decile nationally and groceries and parks score well above average, while cafes are sparse. Childcare availability ranks high nationally, which can be relevant for resident retention in family-oriented unit mixes. School quality trends below metro norms, which is a consideration for positioning toward adult and workforce households rather than school-driven movers.
The renter-occupied share is elevated for the area (90th percentile nationally), signaling a deeper tenant base and reinforcing demand for multifamily housing. At the same time, a high-cost ownership environment (value-to-income nationally in the 93rd percentile) tends to sustain reliance on rentals and can bolster lease retention, though it also requires careful rent-to-income management.
Within a 3-mile radius, recent years show flat-to-slightly lower population but growth in households and families, pointing to smaller household sizes and a gradual expansion of the renter pool. Projections indicate continued household growth by 2028 with incomes trending higher, which supports occupancy stability and measured rent growth for well-positioned assets, based on commercial real estate analysis from WDSuite.
Safety indicators are a mixed picture and should be underwritten with care. Relative to other Miami metro neighborhoods (449 total), this area ranks in the lower tier on crime measures, and national comparisons place it below average on safety. Property offenses have declined meaningfully year over year, while violent offense trends have ticked up over the same period. These dynamics suggest operators should plan for security-forward property management and resident engagement to support retention.
The location is within commuting distance of diversified corporate employers that underpin steady renter demand, including healthcare, energy, and major headquarters. This employment base supports tenant retention and leasing consistency for workforce-oriented units.
- Johnson & Johnson — healthcare & consumer (6.3 miles)
- Mosaic — industrial & resources offices (7.17 miles)
- World Fuel Services — energy & logistics (7.56 miles) — HQ
- Lennar — homebuilding (9.18 miles) — HQ
- Ryder System — transportation & logistics (9.67 miles) — HQ
Built in 2013, this 22‑unit property offers newer-vintage positioning relative to the area’s older housing stock, which can reduce near-term capital exposure while remaining competitive against legacy assets. Neighborhood occupancy has trended stable and renter concentration is high, supporting a broader tenant base and day-to-day leasing durability. According to CRE market data from WDSuite, ownership costs in the area are elevated versus incomes, which tends to reinforce demand for multifamily housing and supports retention for well-managed communities.
Forward-looking household growth within a 3-mile radius, coupled with improving income profiles, points to a larger renter pool over the next cycle. Operators should still plan for prudent affordability management and proactive safety measures given local rent-to-income pressures and below-average safety rankings compared with national benchmarks.
- Newer 2013 vintage versus neighborhood norms supports competitive positioning and moderates near-term CapEx.
- Stable neighborhood occupancy and a high renter-occupied share underpin demand depth and leasing consistency.
- Elevated ownership costs relative to incomes reinforce renter reliance and potential retention advantages.
- Household and income growth within 3 miles expands the tenant base over the medium term.
- Risks: below-average safety rankings and rent-to-income pressure call for security-forward operations and careful lease management.