| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 37th | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1359 NE 127th St, North Miami, FL, 33161, US |
| Region / Metro | North Miami |
| Year of Construction | 1981 |
| Units | 48 |
| Transaction Date | 2014-02-10 |
| Transaction Price | $2,719,000 |
| Buyer | 127 Apartments, LLC |
| Seller | CROSS KEY INVEST INC |
1359 NE 127th St, North Miami Multifamily Investment
Renter demand in this North Miami neighborhood is supported by a high share of renter-occupied units and strong amenity access, according to WDSuite’s CRE market data. The setup favors stable leasing with room for value-add at the property level.
This Urban Core neighborhood rates A- and ranks 104 out of 449 Miami-area neighborhoods, placing it competitive among Miami-Miami Beach-Kendall submarkets for livability and investment fundamentals. Amenity access is a clear strength: restaurants, cafés, parks, groceries, and pharmacies score in the upper national percentiles, indicating walkable daily needs and entertainment that help leasing and retention.
On the housing side, neighborhood occupancy is around the metro median historically and currently, while the renter-occupied share is elevated at roughly two-thirds of housing units (above metro norms). For multifamily, that concentration implies a deeper tenant base and generally steadier demand through cycles, though it also means more direct competition among rental options when new supply delivers.
Relative cost dynamics favor rentals. Neighborhood home values trend in the upper national percentiles and the value-to-income ratio ranks near the top among Miami neighborhoods (17th of 449), signaling a high-cost ownership market that sustains renter reliance on multifamily housing. Median contract rents track above national norms but below ownership costs locally, supporting pricing power without overextending typical renter budgets.
Within a 3-mile radius, households have increased even as overall population edged down, indicating smaller household sizes and diversification of living arrangements—both supportive of a larger renter pool. Looking forward, local forecasts point to continued growth in households alongside rising incomes, which can support rent levels and occupancy stability, based on commercial real estate analysis from WDSuite.
Safety trends are mixed but improving. Within the Miami metro, this neighborhood’s crime rank sits closer to the higher-crime side (rank 38 out of 449), so investors should underwrite appropriate security and operational practices. Nationally, the area performs somewhat above average (around the 65th percentile), and recent year-over-year estimates show meaningful declines in both property and violent offenses, indicating directionally improving conditions compared with many urban peers.
Proximity to corporate offices across energy, healthcare, and diversified headquarters supports workforce housing demand and commute convenience for renters. Nearby employers include Mosaic, Johnson & Johnson, World Fuel Services, Ryder System, and Lennar.
- Mosaic — industrial & materials (6.4 miles)
- Johnson & Johnson — healthcare & consumer products offices (7.9 miles)
- World Fuel Services — energy distribution (12.8 miles) — HQ
- Ryder System — logistics & transportation (13.5 miles) — HQ
- Lennar — homebuilding (14.8 miles) — HQ
Built in 1981, this 48‑unit asset is newer than the neighborhood’s average vintage, positioning it competitively versus older stock while still offering potential gains from targeted system upgrades and common-area refreshes. The surrounding North Miami neighborhood shows solid amenity density and a high renter-occupied share, which enhances demand resilience and supports steady leasing. According to CRE market data from WDSuite, the local ownership market is high-cost relative to incomes, which tends to reinforce multifamily tenancy and bolster pricing power.
Within 3 miles, households have grown and are projected to expand further alongside rising incomes, pointing to a larger tenant base over the next several years. Neighborhood occupancy trends are around the metro median, suggesting stable operations with upside tied to asset-level execution, amenity positioning, and unit renovations.
- Newer-than-area-average 1981 vintage supports competitive positioning with value-add potential
- High renter concentration and strong amenity access underpin steady tenant demand
- High-cost ownership market favors multifamily retention and pricing power
- 3-mile household and income growth outlook supports occupancy stability
- Risk: Metro-relative crime ranking warrants prudent security and expense underwriting