| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 41st | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 900 NW 45th Ave, Miami, FL, 33126, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | $1,400,000 |
| Buyer | 900 APARTMENTS LLC |
| Seller | MANUEL GRANDE M |
900 NW 45th Ave Miami Multifamily Investment
Neighborhood fundamentals point to steady renter demand supported by a high renter-occupied share and elevated local home values, according to WDSuite’s CRE market data. The investment angle centers on depth of the tenant base and pricing resilience balanced against rent-to-income pressure.
Located in Miami’s Urban Core, the neighborhood rates B- and sits above the metro median overall (rank 241 of 449 Miami–Miami Beach–Kendall neighborhoods). Neighborhood occupancy is measured for the neighborhood at roughly the national midpoint, indicating stable utilization with room for management-driven gains rather than reliance on macro tailwinds.
Renter-occupied housing accounts for a sizable share of local units (58.7%), placing the area competitive among Miami neighborhoods (rank 93 of 449). For multifamily investors, that renter concentration signals a deeper tenant pool and supports leasing durability through cycles. Median neighborhood contract rents trend moderately high for the metro (national percentile ~73), aligning with a demand profile that can sustain occupancy while requiring attentive renewals.
Daily needs are well covered by grocery access (around the 90th percentile nationally) and a strong restaurant density (about the 87th percentile). Cafés, parks, and pharmacies are comparatively sparse, so lifestyle convenience skews toward essentials and dining rather than green space or boutique retail — a livability mix typical of infill workforce corridors. Average school ratings are weaker (roughly the lower national quartile), which may matter less for smaller unit mixes but is relevant for family-oriented layouts.
Ownership costs are elevated for the neighborhood (home values around the 72nd percentile nationally), which tends to sustain reliance on rentals and can aid pricing power and retention for well-managed assets. At the same time, the neighborhood’s rent-to-income ratio is high, which raises affordability pressure and makes proactive lease management important. Within a 3-mile radius, recent data show households increasing even as population edged lower — signaling smaller household sizes and a broader base of renting decision-makers — with forward-looking projections indicating further household growth and rising incomes that can expand the renter pool. These dynamics are based on commercial real estate analysis from WDSuite and pertain to the neighborhood and nearby radius, not the property itself.
Vintage context matters: the average neighborhood construction year is 1975, and the subject property’s 1972 vintage is slightly older, suggesting potential value-add through common-area refreshes, in-unit updates, and systems planning to sharpen competitive positioning against newer stock.
Safety trends are mixed. Locally, the neighborhood is roughly middle of the pack relative to the metro (crime rank 180 of 449 Miami–Miami Beach–Kendall neighborhoods), while nationally it tracks below the median for safety (around the 45th percentile). Recent year-over-year estimates show declines in both violent and property offense rates, indicating improvement momentum that investors can monitor over subsequent periods.
For underwriting, frame expectations around average-to-below-average national positioning with recent directional improvement, and evaluate asset-level measures (lighting, access control, and resident engagement) to support retention and leasing.
Proximity to major employers supports a broad commuter tenant base, with corporate headquarters and regional offices within a 6–10 mile band that can underpin leasing stability for workforce and professional renters. The nearby employment mix includes energy distribution, homebuilding, pharmaceuticals, logistics, and chemicals.
- World Fuel Services — energy distribution (5.7 miles) — HQ
- Lennar — homebuilding (6.2 miles) — HQ
- Johnson & Johnson — pharmaceuticals (8.6 miles)
- Ryder System — logistics (9.4 miles) — HQ
- Mosaic — chemicals (9.4 miles)
This 20-unit, 1972-vintage Miami asset sits in a renter-heavy Urban Core neighborhood where occupancy is measured near the national midpoint and the renter base is deep relative to the metro. Elevated ownership costs at the neighborhood level reinforce reliance on rentals, supporting lease-up and renewal prospects. According to CRE market data from WDSuite, neighborhood rents skew moderately high for the metro while home values are higher than many U.S. areas, a combination that can sustain pricing power for well-maintained properties.
The 1972 construction year is slightly older than the neighborhood’s average vintage, pointing to value-add potential via unit renovations and targeted capital planning to remain competitive. Within a 3-mile radius, households have been rising and are projected to grow further alongside income gains, which can expand the renter pool and support occupancy stability. Counterbalancing this, high rent-to-income levels introduce affordability risk and call for disciplined renewals and expense control.
- Renter-heavy neighborhood supports a deeper tenant base and steady leasing
- Elevated neighborhood home values reinforce rental reliance and pricing power
- 1972 vintage offers clear value-add and systems planning opportunities
- 3-mile household and income growth outlook supports occupancy stability
- Risk: high rent-to-income levels require proactive renewals and resident retention strategies