| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 47th | Good |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9755 SW 24th St, Miami, FL, 33165, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9755 SW 24th St Miami Multifamily Investment
Neighborhood occupancy is consistently high while ownership costs remain elevated, pointing to steady renter demand near Westchester, according to CRE market data from WDSuite. Investors evaluating Miami multifamily will find durable fundamentals supported by a broad tenant base and limited new competitive green space in the immediate blocks.
Positioned in Miami’s Westchester corridor, the property sits in a neighborhood rated B+ and ranked 129 out of 449 metro neighborhoods, indicating performance that is above the metro median. According to WDSuite’s CRE market data, neighborhood occupancy is in the top quintile nationally, which supports leasing stability for mid-sized multifamily assets.
Daily needs are well covered: pharmacies index near the top nationally and grocery access is stronger than average, while restaurant density is also comparatively high. By contrast, parks and cafes are limited within the immediate neighborhood footprint, which places more emphasis on private on-site amenities to compete for tenants.
The neighborhood’s renter-occupied share is sizable, helping sustain depth in the tenant pool. Within a 3-mile radius, households have expanded in recent years and are projected to grow further, even as average household size trends smaller—conditions that typically expand the renter pool and support occupancy stability. Median contract rents in the neighborhood sit above many U.S. locations, reinforcing revenue potential for well-managed properties.
Built in 1972, the asset is older than the neighborhood’s average vintage. That age profile often implies planned capital expenditures and selective renovations; in return, value-add programs can enhance competitive positioning versus newer stock while leveraging the area’s strong occupancy. Average unit sizes are generous for Miami, offering a livability edge for households seeking larger floor plans.
Ownership costs in the surrounding neighborhood are elevated relative to incomes nationally. In practice, high-cost ownership markets tend to reinforce reliance on multifamily rentals, supporting tenant retention and pricing power for well-located properties.
Safety indicators in the neighborhood compare modestly above the national middle, based on WDSuite’s data. Property and violent offense rates have both declined year over year, with improvements placing these downtrends among stronger national performers, which is relevant for renter sentiment and lease retention.
At the same time, offense levels remain closer to national mid-range benchmarks rather than top-tier outcomes. Investors should underwrite with standard operational controls and lighting/security upgrades typical for urban Miami assets, while recognizing the constructive direction of recent trends.
Proximity to a diversified employment base underpins renter demand, with nearby corporate offices spanning homebuilding, energy logistics, transportation, and healthcare. The following employers are within commuting distance and help support workforce housing dynamics in this part of Miami.
- Lennar — homebuilding (2.2 miles) — HQ
- World Fuel Services — energy logistics (4.34 miles) — HQ
- Ryder System — transportation & logistics (8.54 miles) — HQ
- Johnson & Johnson — healthcare products (11.29 miles)
- Mosaic — industrial & materials (15.03 miles)
This 28-unit, 1972-vintage property benefits from neighborhood occupancy solidly above national norms and a sizable renter base, supporting income stability relative to the broader Miami-Miami Beach-Kendall metro. Elevated local home values point to a high-cost ownership market, which tends to sustain rental demand and bolster leasing consistency. According to CRE market data from WDSuite, neighborhood rent levels and NOI performance are competitive among metro peers, reinforcing the case for steady cash flow with disciplined operations.
Demographic indicators aggregated within a 3-mile radius show rising household counts and smaller average household sizes, which typically expand the renter pool and support absorption for larger floor plans. Given the 1972 construction, a targeted value-add plan—systems upgrades, interior refresh, and curb appeal—can position the asset against newer stock while aligning capital plans with durable neighborhood fundamentals.
- High neighborhood occupancy and competitive rent positioning support income durability.
- Household growth within 3 miles and smaller household sizes expand the renter pool.
- 1972 vintage offers value-add and modernization potential to enhance returns.
- Elevated ownership costs in the area reinforce reliance on multifamily rentals.
- Risks: affordability pressure and older systems require prudent underwriting and capex planning.