| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 53rd | Good |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8030 NW 8th St, Miami, FL, 33126, US |
| Region / Metro | Miami |
| Year of Construction | 1982 |
| Units | 28 |
| Transaction Date | 2016-09-14 |
| Transaction Price | $3,400,000 |
| Buyer | WEST AVENUE DECO APARTMENT LLC |
| Seller | 8030 NW 8 STREET LLC |
8030 NW 8th St Miami Multifamily Opportunity
Neighborhood metrics point to durable renter demand and steady occupancy, according to WDSuite’s CRE market data, with a renter-occupied housing share well above the metro median. Positioned near major employment nodes, the asset benefits from a deep tenant base and consistent leasing velocity.
The property sits in an Urban Core Miami subarea rated B+ among 449 metro neighborhoods, where neighborhood occupancy is 93.2% and has edged higher over the past five years. These are neighborhood-level indicators, not property performance, but they suggest stable leasing conditions and adequate absorption for professionally managed multifamily assets.
Daily needs are well covered: restaurants and pharmacies rank in the upper tiers locally (both competitive nationally), and grocery access is solid. Childcare density is also strong. By contrast, parks and cafes are limited in the immediate area, which tilts convenience toward errands and services rather than recreation or third-space amenities. Average school ratings near 3 out of 5 indicate serviceable options for households.
Tenure patterns reinforce the depth of the renter base: the neighborhood’s share of renter-occupied housing units is high relative to the metro, supporting ongoing multifamily demand and renewal potential. At the same time, a rent-to-income profile in the area indicates some affordability pressure, which calls for disciplined lease management and amenity-driven retention strategies.
Within a 3-mile radius, demographics show a modest contraction in population alongside an increase in households and families, implying smaller household sizes and a broader pool of renters entering the market. Forward-looking data points to additional household growth and rising area rents, which can support occupancy stability and rent collections when paired with prudent pricing. Home values remain elevated relative to local incomes, helping sustain renter reliance on multifamily housing. These trends are based on commercial real estate analysis from WDSuite and reflect neighborhood conditions rather than property-specific results.
Safety indicators for the neighborhood are mixed in a metro and national context. The crime rank stands at 195 out of 449 Miami–Miami Beach–Kendall neighborhoods, indicating somewhat higher incident rates than the metro median. Nationally, the area sits below the middle of the pack for safety; however, recent data shows year-over-year declines in both violent and property offenses, which is a constructive directional signal. These are neighborhood-level trends and may not reflect conditions on any specific block.
Proximity to nearby corporate offices supports commute convenience and a steady renter pipeline, with concentrations in homebuilding, energy, transportation, healthcare, and diversified corporate services.
- Lennar — corporate HQ & homebuilding (2.8 miles) — HQ
- World Fuel Services — energy & logistics corporate offices (2.9 miles) — HQ
- Ryder System — transportation & logistics corporate offices (7.3 miles) — HQ
- Johnson & Johnson — healthcare corporate offices (8.8 miles)
- Mosaic — diversified corporate offices (12.8 miles)
Built in 1982, this 28‑unit asset offers potential value-add and systems modernization opportunities to enhance competitiveness against newer stock while leveraging a neighborhood backdrop of high renter concentration and steady occupancy. Household growth within a 3-mile radius, paired with smaller average household sizes, expands the local tenant base and can support rent collections and renewal rates. Elevated ownership costs relative to incomes in the area tend to sustain renter reliance on multifamily options, and neighborhood-level NOI per unit trends screen above national medians, according to CRE market data from WDSuite.
Investors should balance these strengths with disciplined lease management given area rent-to-income levels and mixed safety readings versus metro and national norms. Amenity access is strong for errands and services, though limited parks and third-space options suggest that in-property enhancements and on-site programming can be differentiators for retention.
- 1982 vintage enables targeted value-add and system upgrades to improve competitive positioning
- High neighborhood renter-occupied share and stable occupancy underpin demand and renewal potential
- 3-mile household growth and smaller household sizes enlarge the renter pool, supporting leasing
- Elevated ownership costs reinforce multifamily reliance, aiding pricing power over time
- Risks: affordability pressure (rent-to-income) and mixed neighborhood safety call for prudent underwriting and proactive retention