| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 55th | Good |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 735 SW 2nd St, Miami, FL, 33130, US |
| Region / Metro | Miami |
| Year of Construction | 2009 |
| Units | 20 |
| Transaction Date | 2014-12-15 |
| Transaction Price | $122,000 |
| Buyer | 735 SW 2 LLC |
| Seller | ALBARUK LLC |
735 SW 2nd St Miami 20-Unit Multifamily
Strong renter concentration in the Urban Core and growing households within a 3-mile radius point to a durable tenant base, according to WDSuite’s CRE market data. Larger floor plans at this address can support retention as pricing varies with neighborhood demand.
Located in Miami’s Urban Core (neighborhood rating: B+), the area is competitive among Miami-Miami Beach-Kendall’s 449 neighborhoods based on overall standing. Dining access is a local strength, with restaurant density placing near the top nationally, while everyday conveniences like grocers and pharmacies are thinner in the immediate blocks—an operating note for resident experience and leasing conversations.
The building’s 2009 vintage is newer than the neighborhood’s typical 1982 stock, which can enhance competitive positioning versus older properties; investors should still plan for system updates as assets approach mid-life. Renter-occupied housing is prevalent, indicating deep multifamily demand at the neighborhood level; this often supports leasing velocity and renewals when pricing is managed carefully.
Within a 3-mile radius, demographics show population growth over the last five years and a faster increase in households, pointing to smaller average household sizes and a larger tenant base for apartments. Forward-looking estimates for the next five years indicate additional household gains and rising incomes, which together can support rent levels and occupancy stability.
Home values in the surrounding neighborhood sit in a high-cost ownership market relative to national benchmarks, reinforcing reliance on rental options and underpinning the renter pool. Median contract rents in the 3-mile area have trended upward and are projected to continue rising, according to WDSuite’s multifamily property research, which favors steady demand but calls for attentive lease management where affordability pressure may emerge.
Safety trends should be evaluated in context of the broader Miami metro. Neighborhood-level indicators sit below national averages, suggesting investors should underwrite with prudent assumptions for security measures and operating protocols. Recent data point to improving violent offense trends year over year, a constructive signal to monitor alongside property-level initiatives.
Proximity to regional corporate offices supports commuter demand and lease retention for workforce and professional renters, including roles tied to energy services, homebuilding, healthcare, and logistics featured below.
- Mosaic — corporate offices (5.9 miles)
- World Fuel Services — energy services (9.6 miles) — HQ
- Lennar — homebuilding (10.2 miles) — HQ
- Johnson & Johnson — healthcare products offices (10.7 miles)
- Ryder System — logistics & transportation (13.0 miles) — HQ
This 20-unit asset with larger-than-typical floor plans positions well in a renter-heavy Urban Core. The 2009 construction is newer than the area’s average vintage, offering a competitive edge versus older stock while leaving room for targeted capital plans that refresh interiors and systems. Neighborhood dining density and park access support livability, and a deep renter base indicates durable tenant demand even as occupancy varies by submarket cycle.
Within a 3-mile radius, sustained population growth and a faster rise in households expand the renter pool, and projections indicate additional gains alongside income growth that can underpin rent levels. Based on commercial real estate analysis from WDSuite, investors should balance this demand backdrop against affordability pressure and neighborhood-level occupancy softness, using disciplined renewals and amenity-driven retention.
- Newer 2009 vintage relative to local stock supports competitive positioning with manageable value-add scope.
- Renter-heavy neighborhood and 3-mile household growth expand the tenant base and support leasing velocity.
- Strong dining and park access bolster livability and retention potential.
- Larger average unit sizes can differentiate on renewals where comparable stock is older or smaller.
- Risks: neighborhood occupancy is below national norms and affordability pressure warrants conservative rent growth and security planning.