| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 78th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5995 Biscayne Blvd, Miami, FL, 33137, US |
| Region / Metro | Miami |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | 2025-03-13 |
| Transaction Price | $6,480,000 |
| Buyer | CREEK CLUB APARTMENTS INC |
| Seller | MORNINGSIDE BAY APARTMENTS LLC |
5995 Biscayne Blvd Miami Multifamily Investment
Amenity-rich location and a high-cost ownership landscape support durable renter demand, according to WDSuite’s CRE market data, with 3-mile household growth indicating a broader tenant base ahead.
Positioned along Biscayne Blvd in Miami’s Inner Suburb, the property benefits from strong neighborhood fundamentals. Amenity access ranks in the top quartile among 449 metro neighborhoods, and restaurants and cafes score in the 90th percentile nationally—supportive of renter appeal and day-to-day convenience, based on CRE market data from WDSuite.
Neighborhood composition skews more ownership within the immediate area (renter-occupied share noted by WDSuite), while the broader 3-mile radius shows a higher renter concentration (about two-thirds of housing units renter-occupied). For multifamily investors, this split suggests depth of tenant demand from the surrounding area even if the micro-neighborhood is relatively owner-heavy, aiding leasing reach and retention.
Median home values in the neighborhood are elevated, well into the top national percentiles, which tends to reinforce reliance on rental housing and can support pricing power for well-positioned assets. At the same time, rent-to-income sits toward the lower end nationally for the neighborhood, signaling comparatively lighter affordability pressure and potential for disciplined revenue management.
Demographic statistics aggregated within a 3-mile radius indicate essentially flat population in recent years but notable growth in households and families, with forecasts calling for a meaningful increase by 2028. A rising household count alongside slightly smaller average household sizes points to a larger tenant base and steady demand for professionally managed rentals, supporting occupancy stability for competitive assets.
The average construction year in the neighborhood skews newer than this asset (1994 neighborhood average vs. 1974 subject). For investors, the older vintage creates clear value-add and capital planning angles—modernizing exteriors, systems, and interiors to compete against newer stock while targeting renters drawn by the corridor’s convenience and lifestyle amenities.
WDSuite’s data indicates safety outcomes that sit below national medians, with property offenses in lower national percentiles and violent offense rates also below average. However, both categories show recent improvement trends year over year, suggesting incremental progress rather than a step-change.
Within the Miami-Miami Beach-Kendall metro, overall crime ranks near the middle of the pack (relative to 449 neighborhoods), implying a location that is broadly comparable to many urban Miami sub-areas. For investors, this argues for standard safety-forward operations—lighting, access controls, and community management—to support resident retention and leasing performance.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, including Mosaic, Johnson & Johnson, World Fuel Services, Lennar, and Ryder System.
- Mosaic — corporate offices (4.1 miles)
- Johnson & Johnson — corporate offices (8.6 miles)
- World Fuel Services — corporate offices (10.8 miles) — HQ
- Lennar — corporate offices (12.2 miles) — HQ
- Ryder System — corporate offices (12.8 miles) — HQ
This 24-unit, 1974-vintage asset along Biscayne Blvd offers exposure to a high-demand corridor where elevated ownership costs bolster rental preferences and nearby amenities rate among the metro’s stronger clusters. According to CRE market data from WDSuite, the broader area shows robust restaurant, cafe, grocery, and park access alongside a renter-heavy 3-mile radius—factors that expand the tenant base and support leasing momentum. The older vintage creates a clear path for value-add upgrades to improve competitive positioning versus newer neighborhood stock.
Forward-looking demographics within a 3-mile radius point to rising households and income growth through 2028, reinforcing demand for professionally managed rentals. While neighborhood-level occupancy has trended softer and safety metrics lag national medians, recent improvement trends and disciplined operations can mitigate risks, with pricing power supported by a high-cost ownership market and comparatively lighter rent-to-income pressure at the neighborhood level.
- Amenity-rich corridor with top-quartile metro access to dining, groceries, and parks supporting renter appeal.
- 1974 vintage provides value-add opportunity to reposition against newer neighborhood inventory.
- 3-mile radius shows growing households and income, expanding the tenant base and supporting occupancy.
- Elevated home values sustain reliance on rental housing, aiding revenue management and retention.
- Risks: below-median national safety metrics and softer neighborhood occupancy call for strong operations and targeted capex.