| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 33rd | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 937 SW 7th Ave, Miami, FL, 33130, US |
| Region / Metro | Miami |
| Year of Construction | 1990 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | $1,200,000 |
| Buyer | MANAGMENT GUEVARA |
| Seller | TTR CORP C |
937 SW 7th Ave, Miami — Urban Core Multifamily with Deep Renter Base
Strong renter concentration and amenity-rich surroundings point to durable tenant demand, according to WDSuite’s CRE market data. Expect competitive positioning with prudent lease management in a high-cost ownership pocket of Miami.
Situated in Miami’s Urban Core, the property benefits from a dense amenity fabric: neighborhood measures for restaurants, cafes, groceries, and pharmacies rank competitively among 449 metro neighborhoods, with restaurants and pharmacies among the stronger local categories by rank. This convenience supports leasing velocity and retention for workforce and urban professionals. Park access is limited by neighborhood metrics, so on-site and nearby private amenities may matter more for tenant satisfaction.
The neighborhood’s renter-occupied share is high (79.3% of housing units are renter-occupied at the neighborhood level), indicating a deep tenant pool and steady multifamily demand. Neighborhood occupancy is moderate with a multi-year uptick, suggesting stable operations, though performance sits closer to the metro’s middle-to-lower tier by rank. NOI per unit trends are competitive among Miami neighborhoods by rank and sit in the 62nd percentile nationally, reinforcing income potential when operations are well managed.
Within a 3-mile radius, demographics point to a growing renter base: population increased over the last five years and households expanded faster than population, indicating smaller household sizes and more households entering the rental market. Forecasts to 2028 show additional population and household growth, which should enlarge the tenant base and support occupancy stability and leasing depth.
Ownership costs in the neighborhood are elevated relative to incomes, and median home values sit high for the area. This high-cost ownership market tends to sustain reliance on rental housing, supporting pricing power for well-positioned assets. At the same time, rent-to-income levels indicate some affordability pressure, calling for deliberate renewal strategies and amenity-value alignment to maintain retention.
Vintage considerations: built in 1990 versus a neighborhood average around the early 1970s, the asset is newer than much of the local stock, offering relative competitiveness. Investors should still plan for modernization of systems and selective renovations to preserve positioning against newer deliveries.
Safety indicators are mixed and should be evaluated in context. Neighborhood crime ranks in the lower performing half among 449 Miami metro neighborhoods and lands below the national median by percentile. However, recent year-over-year trends show declines in both property and violent offense rates, indicating gradual improvement.
Nationally benchmarked signals place the neighborhood below stronger national peers (property offense metrics sit in lower percentiles, with violent offense also below the national median). For underwriting, this suggests a focus on security features, lighting, and resident engagement. Monitoring continued improvement trends and comparing block-to-block conditions during site visits is prudent, while avoiding assumptions beyond neighborhood-level data.
Proximity to regional employers underpins renter demand and commute convenience for residents. Notable nearby employment nodes include Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — corporate offices (6.1 miles)
- World Fuel Services — corporate offices (9.8 miles) — HQ
- Lennar — corporate offices (10.3 miles) — HQ
- Johnson & Johnson — corporate offices (11.2 miles)
- Ryder System — corporate offices (13.3 miles) — HQ
937 SW 7th Ave is a 24-unit, 1990-vintage asset positioned in Miami’s Urban Core. The neighborhood shows a high share of renter-occupied housing, a strong amenity footprint for daily needs, and competitive income metrics by metro rank, supporting durable tenant demand. Within a 3-mile radius, household counts have grown faster than population and are projected to expand further, pointing to a larger tenant base and support for occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy has trended upward over five years, while elevated ownership costs relative to incomes reinforce reliance on multifamily housing.
Key considerations for underwriting include affordability pressure (rent-to-income levels), limited park access, and safety metrics that trail stronger national peers despite recent declines. The 1990 vintage is newer than the area’s average stock, offering relative competitiveness, though planning for system upgrades and targeted renovations can help sustain rents against newer supply.
- High renter concentration and amenity-rich Urban Core location support leasing demand
- 3-mile household growth and forecasts indicate a larger tenant base and occupancy stability
- 1990 vintage newer than neighborhood average; modernization can enhance competitive positioning
- Elevated ownership costs bolster renter reliance, aiding pricing power for well-run assets
- Risks: affordability pressure, limited park access, and below-median safety metrics despite recent improvements