| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 59th | Good |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6970 SW 87th Ave, Miami, FL, 33173, US |
| Region / Metro | Miami |
| Year of Construction | 1973 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6970 SW 87th Ave Miami Multifamily Investment
Neighborhood occupancy is 95.6% with elevated ownership costs supporting renter demand, according to WDSuite’s CRE market data, reinforcing stability for a 37-unit asset in Miami’s inner suburbs.
Situated in Miami’s Inner Suburb, the area around 6970 SW 87th Ave scores in the top quartile among 449 metro neighborhoods for overall amenities, with strong access to parks and pharmacies (both in the mid‑80s national percentiles). Restaurant density is competitive among Miami neighborhoods and ranks in the 91st percentile nationally, while cafes are limited—suggesting everyday convenience more than boutique retail. Average school ratings trend modestly above the national median (61st percentile), useful for family‑oriented renter demand.
Rents in the neighborhood benchmark high (around the 80th national percentile), and the neighborhood occupancy rate at 95.6% sits in the 75th percentile nationally—indicating tight conditions that have historically supported leasing stability. Median home values rank near the 90th percentile nationwide, signaling a high‑cost ownership market that tends to reinforce demand for multifamily rentals and can support pricing power with careful lease management.
Vintage in this area averages near the mid‑1970s; this property was built in 1973, slightly older than the neighborhood average of 1976. That positioning often requires targeted capital planning (systems, interiors, common areas) but can offer value‑add upside relative to newer stock. The share of renter‑occupied housing in the neighborhood sits modestly above the national median, indicating a durable renter base rather than a transient, highly investor‑dependent pocket.
Demographics aggregated within a 3‑mile radius show a small population decline over the last five years alongside a 7.7% increase in households and a decrease in average household size. This points to more, smaller households—conditions that typically expand the renter pool and support occupancy. Household incomes have risen meaningfully, and rent‑to‑income metrics from the neighborhood perspective (0.15) suggest manageable affordability pressure that can aid retention if renewals are handled thoughtfully.
Safety indicators are mixed but trending positively. Compared with neighborhoods nationwide, the area sits above average (around the mid‑60s national percentile), while recent estimates show notable year‑over‑year declines in both violent and property offenses (improvement trends in the mid‑80s national percentiles). Within the Miami metro, conditions can vary by pocket; investors should underwrite with standard precautions (lighting, access control, resident screening) while recognizing the recent improvement trajectory.
The location is proximate to a diversified white‑collar employment base that supports renter demand and retention, including homebuilding, energy & logistics, transportation & logistics, healthcare/consumer products, and chemicals.
- Lennar — homebuilding (5.4 miles) — HQ
- World Fuel Services — energy & logistics (7.4 miles) — HQ
- Ryder System — transportation & logistics (11.7 miles) — HQ
- Johnson & Johnson — healthcare & consumer products (13.9 miles)
- Mosaic — chemicals (15.1 miles)
This 37‑unit 1973 asset benefits from tight neighborhood occupancy (95.6%) and high ownership costs, both of which tend to reinforce multifamily demand and leasing stability. According to CRE market data from WDSuite, neighborhood rents benchmark high nationally while occupancy remains above national medians, supporting a thesis centered on steady demand with potential for value‑add returns.
Within a 3‑mile radius, households have increased while average household size has declined, which generally expands the renter pool and supports sustained occupancy. The vintage, slightly older than the neighborhood average, suggests scope for targeted renovations and systems upgrades to improve competitive positioning against newer product, while maintaining sensitivity to rent‑to‑income dynamics that appear manageable at current levels.
- Tight neighborhood occupancy and high home values support durable renter demand
- Household growth within 3 miles and smaller household sizes expand the tenant base
- 1973 vintage offers value‑add potential via targeted interior and systems upgrades
- Proximity to diversified corporate employers underpins leasing and retention
- Risks: older systems/capex planning, mixed local safety by pocket, and limited cafe retail nearby