| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 89th | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 NE 22nd St, Miami, FL, 33137, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | $595,000 |
| Buyer | AUDY CONSTRUCTION INC |
| Seller | USA MORTGAGE & INVESTMENTS INC |
601 NE 22nd St Miami Urban-Core Multifamily
Amenity-rich urban context and a deep renter pool support durable leasing fundamentals, according to WDSuite’s CRE market data. One clear takeaway for investors: neighborhood dynamics favor sustained renter demand over the medium term.
Situated in Miami’s Urban Core, the property benefits from exceptional everyday convenience—dense clusters of restaurants, cafes, grocery options, pharmacies, and parks score in the top national percentiles. This walkable, service-rich environment typically broadens the tenant base and supports retention for well-managed multifamily assets.
Neighborhood-level occupancy is reported for the area, not the property; the surrounding neighborhood’s occupancy has improved over the past five years but remains below typical metro standings. For owners, this implies a need for careful leasing strategy and product differentiation amid competitive supply, especially given the neighborhood’s relatively newer stock on average.
Within a 3-mile radius, demographics point to a larger tenant base over time: population and households have grown and are projected to continue expanding, with a notable increase in higher-income cohorts. A high share of renter-occupied housing units in this 3-mile view underscores depth of demand for apartments and supports occupancy stability.
Home values in the neighborhood rank high versus national peers, creating a high-cost ownership market that tends to sustain multifamily demand and support pricing power for well-positioned assets. Against this backdrop, the property’s 1972 vintage is older than the neighborhood average (2005), suggesting potential value-add through renovations and capital planning to stay competitive with newer product.
Safety conditions should be evaluated in a metro context. The neighborhood ranks near the lower end for safety among 449 Miami-area neighborhoods, indicating investors may want to underwrite active security measures and professional management practices. Compared with neighborhoods nationwide, safety scores are below average; year-over-year trends show violent incidents roughly flat and property-related incidents edging higher, according to WDSuite’s CRE market data.
Proximity to corporate employers supports renter demand through commute convenience and a diversified white-collar employment base, including Mosaic, Johnson & Johnson, World Fuel Services, Lennar, and Ryder System.
- Mosaic — corporate offices (4.1 miles)
- Johnson & Johnson — corporate offices (10.0 miles)
- World Fuel Services — corporate offices (10.5 miles) — HQ
- Lennar — corporate offices (11.5 miles) — HQ
- Ryder System — corporate offices (13.3 miles) — HQ
This 21-unit 1972 multifamily asset offers exposure to Miami’s Urban Core, where dense amenities and a broad renter base underpin leasing potential. Based on CRE market data from WDSuite, neighborhood occupancy has improved but trails stronger metro subareas, which places a premium on thoughtful renovations and targeted leasing to differentiate versus newer stock. Elevated neighborhood home values point to a high-cost ownership market, reinforcing reliance on rental housing. The property’s larger average unit size provides flexibility for positioning and potential revenue optimization.
Within a 3-mile radius, population and household counts have risen and are forecast to grow further, indicating a larger tenant base and ongoing renter pool expansion. Combined with proximity to multiple corporate employers, these dynamics can support demand, while owners should still plan for capital improvements and competitive concessions as needed to navigate local supply.
- Amenity-dense Urban Core location supports tenant retention and pricing power
- High-cost ownership market sustains multifamily demand versus for-sale alternatives
- 1972 vintage offers value-add and capital planning opportunities to compete with newer supply
- 3-mile demographic growth and nearby corporate employers bolster the renter base
- Risk: neighborhood occupancy lags stronger subareas, requiring active leasing strategy