| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 33rd | Fair |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 420 SW 12th Ave, Miami, FL, 33130, US |
| Region / Metro | Miami |
| Year of Construction | 2012 |
| Units | 72 |
| Transaction Date | 2012-07-09 |
| Transaction Price | $11,857,400 |
| Buyer | VISTA 12 LLC |
| Seller | LATIN Q TOWER LLC |
420 SW 12th Ave Miami 2012 Multifamily Asset
Neighborhood occupancy in the mid-90% range and a high renter concentration suggest steady tenant demand, according to WDSuite’s CRE market data. This urban-core location offers durable leasing fundamentals with potential to sustain pricing through cycles.
Located in Miami’s Urban Core, the property sits within a neighborhood rated B+ and ranked 147 out of 449 metro neighborhoods—competitive among Miami areas. Amenity access is a clear strength: the neighborhood ranks 37 of 449 for amenities (top quartile locally and strong nationally), with dense restaurant, grocery, and pharmacy options supporting resident convenience and lease retention.
From a multifamily operations view, neighborhood occupancy is around 94% (above the national median per WDSuite), and the share of housing units that are renter-occupied is elevated at the neighborhood level. A high renter concentration indicates a deep tenant base for workforce and lifestyle renters, which can support leasing velocity and stabilize turnover.
Demographic statistics aggregated within a 3-mile radius show population growth over the last five years with a larger increase in households, and forecasts point to further gains by 2028. Shrinking average household size points to more households drawing on a similar population base—typically a supportive signal for apartment demand and occupancy stability.
Ownership costs in the broader neighborhood context skew high relative to local incomes (high value-to-income standing), which tends to reinforce renter reliance on multifamily housing rather than ownership. Median contract rents have trended upward over five years locally and are projected to continue rising in the 3-mile area, underscoring a need for proactive lease management where rent-to-income ratios are elevated. The property’s 2012 construction is newer than the neighborhood’s average vintage (1963), positioning it competitively versus older stock while still warranting routine system updates and periodic common-area refreshes to maintain relative appeal.
Safety indicators for the neighborhood trail national benchmarks: overall crime sits below the national median and ranks 343 out of 449 across the metro, indicating it is weaker than many Miami neighborhoods. Nationally, the area falls into lower percentiles for both property and violent offenses.
Recent direction is modestly constructive: estimated property offense rates declined over the past year and violent offense estimates eased slightly, per WDSuite. Investors should underwrite with conservative assumptions, weigh security enhancements typical for urban-core assets, and monitor sub-neighborhood trends rather than relying on block-level conclusions.
Proximity to major employers supports renter demand and commute convenience for a diverse workforce, notably across energy, homebuilding, healthcare, and logistics. Nearby anchors include Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — corporate offices (6.4 miles)
- World Fuel Services — energy & logistics (9.2 miles) — HQ
- Lennar — homebuilding (9.7 miles) — HQ
- Johnson & Johnson — healthcare products (10.6 miles)
- Ryder System — transportation & logistics (12.6 miles) — HQ
This 72-unit, 2012-vintage asset benefits from an amenity-rich Urban Core setting with competitive neighborhood standing and a deep pool of renter-occupied housing. According to CRE market data from WDSuite, neighborhood occupancy remains solid while renter concentration is high, supporting tenant demand and lease-up durability relative to older nearby stock.
Demographic data aggregated within a 3-mile radius shows recent population growth alongside faster household growth, with forecasts indicating further expansion—conditions that typically support a larger tenant base and sustained absorption. At the same time, elevated rent-to-income dynamics in the immediate neighborhood call for disciplined pricing and renewal strategies. The 2012 vintage offers relative competitiveness versus older properties, with scope for targeted upgrades to reinforce positioning.
- Urban-core location with top-quartile amenity access and competitive standing among 449 metro neighborhoods
- High renter-occupied share and solid neighborhood occupancy support leasing stability
- 2012 construction provides an edge over older stock, with potential for selective value-add
- 3-mile household growth and projected increases expand the renter pool and underpin demand
- Risk: elevated rent-to-income levels and below-average safety metrics warrant conservative underwriting and active management