| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 33rd | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 933 NW 4th St, Miami, FL, 33128, US |
| Region / Metro | Miami |
| Year of Construction | 1981 |
| Units | 41 |
| Transaction Date | 2012-01-31 |
| Transaction Price | $3,212,500 |
| Buyer | CITY VIEW APARTMENTS MGMT LLC |
| Seller | FOUR OCEANS LLC |
933 NW 4th St Miami Multifamily Investment
Deep renter demand in Miami’s Urban Core and stable neighborhood occupancy point to resilient leasing fundamentals, according to WDSuite’s CRE market data.
Located in Miami’s Urban Core (B+ neighborhood rating), the area surrounding 933 NW 4th St offers strong daily-life convenience. Restaurant and grocery density ranks in the top quartile nationally and is competitive among 449 metro neighborhoods, while pharmacies are even more prevalent. Cafes are plentiful as well. The main tradeoff is limited park access within the neighborhood, which investors should weigh against the excellent retail and service coverage.
Renter-occupied housing is the dominant tenure locally, with a very high renter concentration compared to both the metro and national landscape. For multifamily owners, this depth of renter households supports a wider tenant base and can help sustain occupancy across cycles. Neighborhood occupancy is around the metro median by rank, indicating generally steady leasing conditions rather than outsized volatility.
Within a 3-mile radius, population and households have grown over the past five years and are projected to expand further, pointing to a larger tenant base over the medium term. Household sizes are edging smaller, which can increase demand for apartment living and support occupancy stability and lease-up velocity.
Ownership costs in the neighborhood are elevated versus national norms, and the value-to-income ratio ranks in a high national percentile. In practice, a higher-cost ownership market tends to reinforce reliance on multifamily rentals and can support pricing power. At the same time, rent-to-income ratios indicate some affordability pressure, suggesting a need for attentive lease management and renewal strategies.
The property’s 1981 vintage is newer than the neighborhood’s average construction year (1972 by rank context). That positioning can be competitively helpful versus older stock, though investors should underwrite ongoing system modernization and targeted upgrades to meet current renter expectations.
Safety indicators for the neighborhood track below the metro median by rank among 449 Miami-area neighborhoods and are below national averages by percentile. Even so, recent year-over-year trends show modest improvement, with both property and violent offense estimates moving lower. Investors typically account for these dynamics with operational focus on lighting, access control, and resident engagement, and by emphasizing the area’s strong amenity access and employment proximity when marketing.
Proximity to established employers supports renter demand and commute convenience for a workforce-oriented tenant base. Key nearby employers include Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — corporate offices (5.9 miles)
- World Fuel Services — corporate offices (9.3 miles) — HQ
- Lennar — corporate offices (9.9 miles) — HQ
- Johnson & Johnson — corporate offices (10.2 miles)
- Ryder System — corporate offices (12.6 miles) — HQ
The investment case at 933 NW 4th St centers on durable renter demand in an Urban Core setting with robust retail and service density and a renter-heavy housing stock. Neighborhood occupancy trends are steady by metro rank, and elevated ownership costs locally support continued reliance on multifamily housing. According to commercial real estate analysis from WDSuite, the area’s amenity access and employer proximity contribute to leasing stability relative to older, less-connected submarkets.
The 1981 vintage is slightly newer than the surrounding stock, offering competitive positioning versus older assets while leaving room for value-add through system updates and selective unit/interior improvements. Demographic trends within a 3-mile radius point to ongoing population and household growth, which can expand the tenant base and support retention and rent trade-outs with thoughtful affordability and renewal management.
- Deep renter base and steady occupancy support leasing durability.
- Strong amenity coverage and major employers within 6–13 miles aid retention.
- 1981 vintage offers competitive positioning with value-add upgrade potential.
- Elevated ownership costs reinforce demand for rentals and pricing power.
- Risks: affordability pressure and below-median safety by metro rank require proactive operations.