| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 31st | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2400 NW 16th Street Rd, Miami, FL, 33125, US |
| Region / Metro | Miami |
| Year of Construction | 1974 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2400 NW 16th Street Rd Miami Multifamily Investment
Neighborhood occupancy is in the mid‑90s with a deep renter base, according to WDSuite’s CRE market data, supporting stable leasing for a 27‑unit asset. Investor focus should be on demand durability and unit positioning relative to nearby stock.
This Urban Core location in Miami-Dade offers daily-life convenience, with strong access to cafes and groceries nearby while other amenities like parks and pharmacies are limited within the immediate neighborhood. Rents in the area sit above national medians, and neighborhood occupancy around 95% has trended higher over five years, which points to steady renter demand and generally reliable lease-up dynamics based on CRE market data from WDSuite.
The property’s 1974 vintage is older than the local average construction year (1983). For investors, that typically means planning for ongoing capital expenditures and considering value-add or modernization to sharpen competitive positioning against newer area product.
Unit tenure signals a renter-occupied concentration (about four out of five housing units). For multifamily owners, that depth of renter households supports a broader tenant base and can help stabilize occupancy through cycles.
Demographic statistics are aggregated within a 3-mile radius. Over the past five years, total population edged down while household counts increased, and forecasts point to further household growth alongside smaller average household sizes. For investors, that pattern usually expands the renter pool and supports consistent apartment demand, even if population growth is modest.
Ownership costs in the neighborhood are elevated relative to incomes (high value-to-income levels), which tends to sustain reliance on rental housing and can support pricing power for well-positioned units. At the same time, higher rent-to-income ratios indicate affordability pressure for some households, a consideration for renewal strategy and lease management.
Safety indicators for the neighborhood sit around the national midpoint overall, with violent-offense measures near the U.S. median. Property-related incidents are comparatively higher than national averages, but recent data show a notable improvement trend in violent offenses year over year. For investors, this suggests monitoring local trends and applying standard property-level security and lighting best practices without assuming block-level precision.
Proximity to major employers supports a broad workforce renter base and commute convenience. Nearby anchors include energy, homebuilding, healthcare, and logistics firms that underpin steady apartment demand in this part of Miami.
- Mosaic — corporate offices (7.2 miles)
- World Fuel Services — energy & logistics (7.6 miles) — HQ
- Lennar — homebuilding (8.4 miles) — HQ
- Johnson & Johnson — healthcare products (8.8 miles)
- Ryder System — transportation & logistics (10.8 miles) — HQ
This 27‑unit, 1974-vintage asset sits in an Urban Core neighborhood with a high share of renter-occupied housing and occupancy in the mid‑90s, indicating durable demand and generally stable leasing. According to CRE market data from WDSuite, area rents trend above national medians while household counts are rising within a 3‑mile radius, expanding the renter pool even as population growth remains modest.
The vintage profile suggests clear value-add and capital planning angles: upgrades can strengthen competitive positioning versus newer local stock and support rent resilience amid an ownership market where elevated value-to-income levels reinforce reliance on rentals. Key watch items include affordability pressure (high rent-to-income ratios) and property-crime exposure, both manageable with prudent unit mix, renewal strategy, and property-level operations.
- Mid‑90s neighborhood occupancy and deep renter base support leasing stability
- 1974 vintage offers value‑add and modernization potential versus newer stock
- Workforce access to major employers underpins steady demand
- Elevated ownership costs reinforce renter reliance and pricing power for well‑positioned units
- Risks: affordability pressure (high rent‑to‑income) and property‑crime exposure require active management