| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 39th | Fair |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2695 SW 18th St, Miami, FL, 33145, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2695 SW 18th St Miami 24-Unit Multifamily
Neighborhood renter demand and stable occupancy provide a durable leasing backdrop; according to WDSuite’s CRE market data, elevated ownership costs in Miami help sustain reliance on multifamily rentals.
Located in Miami’s Urban Core, the property benefits from a renter-driven neighborhood and proximity to everyday needs. The neighborhood’s renter-occupied share is high relative to the metro (60.5% renter-occupied), indicating depth in the tenant base and support for lease-up and renewals. Neighborhood occupancy has held in the mid-90% range, reinforcing day-one cash flow stability at the neighborhood level rather than at the asset level.
Amenity access is a relative strength: grocery and restaurant density rank competitively among 449 Miami-area neighborhoods, while café concentration is strong nationally. However, park and pharmacy counts are limited within the neighborhood footprint. For investors, this mix suggests convenience for daily goods and dining, with fewer green-space amenities nearby.
Within a 3-mile radius, households have grown over the past five years and are projected to expand further by 2028, even as average household size trends smaller. This points to a larger tenant base and continued apartment demand. Median contract rents in the neighborhood have risen over the last five years, consistent with tight conditions and steady absorption, based on CRE market data from WDSuite.
The area’s ownership market is high-cost by national standards, which supports renter retention and pricing power when managed thoughtfully. The property’s 1972 vintage is newer than much of the surrounding housing stock (neighborhood average year built skews older), creating potential value-add opportunities through targeted renovations and system modernization to improve relative competitiveness versus legacy stock.
Safety indicators are mixed but improving. The neighborhood’s overall crime rank is competitive among Miami-Miami Beach-Kendall’s 449 neighborhoods, and national positioning is around the middle of the pack. Notably, both violent and property offense rates show year-over-year declines, which supports a cautiously constructive outlook on operating stability.
As always, investors should underwrite with submarket-level comps and recent trend data rather than block-level assumptions. Directional improvements and a metro-competitive rank can help support leasing and retention, but on-site security practices and tenant screening remain important risk management tools.
Proximity to major corporate offices supports a broad commuter tenant base and can aid retention through short, predictable commutes. Nearby employers include Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — corporate offices (8.2 miles)
- World Fuel Services — energy & logistics corporate offices (8.2 miles) — HQ
- Lennar — homebuilding corporate offices (8.3 miles) — HQ
- Johnson & Johnson — healthcare & consumer products corporate offices (10.9 miles)
- Ryder System — transportation & logistics corporate offices (12.0 miles) — HQ
This 24-unit property offers exposure to a renter-heavy Miami neighborhood with occupancy stability and convenience-driven amenities. Within a 3-mile radius, household growth alongside smaller household sizes points to a larger renter pool over time, supporting leasing durability. Elevated ownership costs in the area reinforce reliance on rentals, while neighborhood rent growth over the past five years underscores demand resilience, according to CRE market data from WDSuite.
Built in 1972, the asset may benefit from targeted value-add and system upgrades to strengthen competitive positioning versus older surrounding stock. Underwriting should account for affordability pressures and the neighborhood’s limited park and childcare amenities, balancing rent growth expectations with thoughtful retention strategies.
- Renter-heavy neighborhood and mid-90% neighborhood occupancy support day-one leasing stability
- Convenience-led amenity base (grocery, dining, cafés) enhances daily livability for tenants
- 1972 vintage presents value-add and modernization opportunities to outperform older local stock
- Household growth within 3 miles indicates a larger future tenant base and supports occupancy
- Risks: affordability pressure and limited parks/childcare warrant conservative rent and retention assumptions