| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 47th | Good |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9854 SW 8th St, Miami, FL, 33174, US |
| Region / Metro | Miami |
| Year of Construction | 1973 |
| Units | 40 |
| Transaction Date | 1993-08-18 |
| Transaction Price | $2,575,000 |
| Buyer | A C O INV INC |
| Seller | COURTELIS LOUISE H |
9854 SW 8th St, Miami Multifamily Investment Outlook
Neighborhood fundamentals point to durable renter demand and high occupancy, according to WDSuite’s CRE market data. Investors should weigh strong location conveniences against affordability pressure when underwriting retention and rent growth.
Positioned in Miami’s Urban Core, the property benefits from a neighborhood rated B+ and competitive among 449 Miami–Miami Beach–Kendall neighborhoods (ranked in the upper third). Occupancy in the surrounding neighborhood has trended higher over the last five years and sits in the mid‑90s, supporting income stability for well‑managed assets.
Day‑to‑day amenities skew practical: restaurant density is strong (above the 90th percentile nationally) and pharmacies are abundant (near the top nationally), while parks and cafes are comparatively limited. Grocery access is better than average. This mix tends to favor convenience for workforce renters and can support leasing velocity.
Within a 3‑mile radius, household counts have expanded even as overall population edged down, reflecting smaller household sizes and potential formation of more renting households. Median and mean incomes have risen meaningfully over the last five years, expanding the qualified renter pool and supporting rent levels. Renter‑occupied housing accounts for roughly 44% of units in the 3‑mile radius, indicating a sizable tenant base that can underpin demand for multifamily units.
Home values in the neighborhood sit at elevated levels versus national benchmarks, which typically sustains reliance on rental housing and can bolster pricing power and lease retention for competitively positioned assets. Neighborhood‑level NOI per unit performance ranks in the top quartile nationally, based on CRE market data from WDSuite, signaling healthy operating potential for comparable properties.
Built in 1973, the asset is older than the neighborhood’s average vintage and may warrant near‑term capital planning for systems and interiors. For investors, that also creates value‑add or repositioning angles to enhance competitiveness against newer stock.
Safety indicators present a mixed but improving picture. Compared with the Miami–Miami Beach–Kendall metro, the neighborhood’s crime rank places it on the higher‑incidence side (79 out of 449 metro neighborhoods). Nationally, overall conditions are around mid‑pack to slightly better, and both property and violent offense estimates show notable year‑over‑year declines, with improvement trends ranking well versus peers. For investors, the directional improvement reduces downside risk if sustained, but underwriting should still reflect submarket‑level variation within Miami.
Proximity to major employers supports renter demand through short commutes and a diversified employment base, led by homebuilding, energy logistics, transportation, and healthcare products. Nearby anchors include Lennar, World Fuel Services, Ryder System, Johnson & Johnson, and Mosaic.
- Lennar — homebuilding (1.4 miles) — HQ
- World Fuel Services — energy & fuel logistics (3.4 miles) — HQ
- Ryder System — logistics & transportation (7.6 miles) — HQ
- Johnson & Johnson — healthcare products (10.5 miles)
- Mosaic — fertilizers & crop nutrition (14.9 miles)
This 40‑unit, 1973‑vintage asset sits in a Miami Urban Core neighborhood with steady occupancy and practical amenity access. Elevated home values and a sizeable renter base indicate durable demand for rentals, while neighborhood NOI per unit performance ranks in the top quartile nationally. Within a 3‑mile radius, rising incomes and more households—even as population edges down—suggest a larger tenant base formed by smaller households, supporting occupancy stability for well‑positioned properties.
According to CRE market data from WDSuite, neighborhood occupancy is high relative to national norms, restaurant and pharmacy access is strong, and median rents track above national benchmarks. Given the 1970s vintage, a focused capital plan could unlock value‑add or modernization upside to improve competitive standing against newer deliveries, while underwriting should account for affordability pressures when setting renewal strategies.
- High neighborhood occupancy and strong amenity access support income durability
- Top‑quartile neighborhood NOI per unit indicates solid operating potential
- 3‑mile area shows more households and higher incomes, expanding the renter pool
- 1973 vintage offers value‑add/modernization pathways with targeted capex
- Risks: affordability pressure (high rent‑to‑income), limited parks/cafes, and submarket safety variation