| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 33rd | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3000 SW 3rd Ave, Miami, FL, 33129, US |
| Region / Metro | Miami |
| Year of Construction | 2000 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | $880,000 |
| Buyer | MONTSERRAT INVESTORS INC |
| Seller | 3000 CORAL WAY INC |
3000 SW 3rd Ave Miami Multifamily Investment
Positioned in Miami’s urban core with a deep renter base, this asset benefits from steady neighborhood occupancy and strong amenity access, according to WDSuite’s CRE market data.
Neighborhood
The property sits in an Urban Core setting with a B+ neighborhood rating among 449 Miami metro neighborhoods. Amenity access is a relative strength: restaurants and daily needs retail score in the upper national percentiles, and the neighborhood’s amenity rank (54 out of 449) is competitive among Miami neighborhoods. Grocery and pharmacy density are also strong, supporting day-to-day convenience that tends to aid renter retention.
The 2000 construction year is newer than the area’s average 1972 vintage, suggesting a competitive position versus older stock while still warranting periodic system upgrades or modernization to sustain leasing velocity. Home values trend elevated for the area (high national percentile), which typically reinforces reliance on multifamily housing and supports pricing power when managed with disciplined renewals.
Renter-occupied housing is a defining feature: the neighborhood’s renter concentration ranks near the top of the metro (16 out of 449) and in the top national percentile, indicating a deep tenant base for multifamily demand. Neighborhood occupancy is around the metro median, pointing to generally stable lease-up and renewal dynamics rather than outsized vacancy risk.
Within a 3-mile radius, population has grown and households have increased, with forecasts indicating additional household growth and smaller average household sizes. This pattern typically expands the renter pool and supports occupancy stability. Median contract rents and incomes within this radius have risen, and forward projections signal continued rent growth; investors should pair this with careful lease management to balance affordability pressure and retention, backed by commercial real estate analysis from WDSuite.
Notable trade-offs include limited park access in the immediate neighborhood, which can reduce open-space appeal relative to peers, though strong food-and-beverage and convenience retail density helps offset lifestyle needs.
Safety
Relative to the Miami metro, the neighborhood’s crime rank (373 out of 449) places it above many peers on a comparative basis, but national comparisons are less favorable, with overall safety indicators below the U.S. median. This mixed profile suggests investors should underwrite standard security measures and tenant screening while recognizing that metro-relative positioning is stronger than national standing.
Recent trends show modest improvement: both property and violent offense rates have declined over the past year, aligning with mid-pack national trend percentiles. For underwriting, consider the improving trajectory while maintaining prudent operating practices typical for urban-core assets.
Employers
Proximity to corporate employers supports a broad commuter tenant base and helps leasing resilience. Key nearby firms include Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — corporate offices (6.9 miles)
- World Fuel Services — corporate offices (9.7 miles) — HQ
- Lennar — corporate offices (9.9 miles) — HQ
- Johnson & Johnson — corporate offices (11.7 miles)
- Ryder System — corporate offices (13.4 miles) — HQ
Why Invest
This 120-unit, 2000-vintage asset offers a favorable position versus older neighborhood stock, with amenity-rich surroundings and a deep renter base. Elevated ownership costs in the area tend to sustain multifamily demand, while neighborhood occupancy tracks near the metro median, supporting steady leasing rather than outsized volatility.
Within a 3-mile radius, recent and forecast increases in households point to renter pool expansion and ongoing absorption potential. According to CRE market data from WDSuite, the neighborhood’s strong amenity access and high renter concentration underpin demand, while affordability pressure warrants disciplined renewals and targeted value-add to protect retention.
- Newer vintage (2000) versus local average supports competitive positioning; plan for selective system upgrades
- Deep renter concentration and steady neighborhood occupancy reinforce demand stability
- Strong access to dining, grocery, and pharmacy amenities aids retention and leasing
- Household growth within 3 miles signals a larger tenant base and absorption support
- Risks: national safety comparables below median and rent-to-income pressure require prudent lease management