| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 52nd | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1965 NE 135th St, North Miami, FL, 33181, US |
| Region / Metro | North Miami |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | 2014-05-07 |
| Transaction Price | $3,450,000 |
| Buyer | ALAMEDA GARDENS LLC |
| Seller | INMOBILIARIA HERVAZA CORP |
1965 NE 135th St North Miami Multifamily Investment
Renter concentration in the neighborhood is high and supports a sizable tenant base, while the 1972 vintage suggests potential value-add through targeted upgrades, according to WDSuite’s CRE market data. Neighborhood occupancy trends are softer, which may allow operators to differentiate through renovations and focused leasing.
Located in an inner-suburb pocket of North Miami, the neighborhood rates A- and is competitive among Miami-Miami Beach-Kendall neighborhoods (ranked 114 of 449). Dining and daily-needs access are strengths, with restaurants and cafes comparing favorably to national norms, plus solid park and pharmacy access. Childcare options are thinner locally, and average school ratings skew lower, which can influence unit mix strategy and leasing positioning.
For investors, tenant demand is underpinned by a high share of renter-occupied housing at the neighborhood level, while reported neighborhood occupancy is below national medians. Rents benchmark in the upper range locally and have grown meaningfully in recent years, indicating pricing power where product is competitive and professionally managed. Elevated ownership costs relative to incomes in the area further sustain rental demand and can support retention.
Within a 3-mile radius, households have increased even as overall population edged down, pointing to smaller household sizes and a larger renter pool over time; forward-looking projections indicate additional gains in households and incomes, which supports occupancy stability and absorption for well-positioned assets. These trends align with practical leasing advantages observed in commercial real estate analysis based on WDSuite’s data rather than speculative narratives.
The property’s 1972 construction is older than the neighborhood’s newer average stock, creating scope for value-add or system modernization to improve competitive positioning against 2000s-era comparables. Operators should calibrate capex toward durability and resident experience to capture rent premiums where feasible.
Safety indicators are mixed when viewed against broader benchmarks. The neighborhood’s overall crime standing is below the metro median (ranked 282 out of 449 Miami-Miami Beach-Kendall neighborhoods), while national comparisons place the area around the middle to modestly better for specific categories: violent offense is near the national middle and property offense sits in the top half for safety compared with neighborhoods nationwide.
Recent year-over-year signals show some volatility, so investors should emphasize standard risk controls: strong on-site management, lighting and access control, and collaboration with local law enforcement. Framing safety at the neighborhood level—rather than the property itself—helps set realistic leasing and asset management expectations.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, including Mosaic, Johnson & Johnson, World Fuel Services, Ryder System, and AutoNation.
- Mosaic — corporate offices (6.5 miles)
- Johnson & Johnson — healthcare products offices (8.7 miles)
- World Fuel Services — energy & logistics (13.7 miles) — HQ
- Ryder System — logistics & transportation (14.3 miles) — HQ
- AutoNation — automotive retail (15.2 miles) — HQ
1965 NE 135th St offers a 36-unit, 1972-vintage footprint in a renter-heavy North Miami neighborhood where rents trend on the higher side locally and ownership costs remain elevated versus incomes. Based on CRE market data from WDSuite, neighborhood occupancy is softer, but the renter-occupied share is high, creating a deep tenant base for operators who can compete on product quality and service. The asset’s older vintage provides a clear path for value-add and building systems upgrades to close the gap with 2000s-era comparables.
Within a 3-mile radius, household growth and income gains point to a larger renter pool over the next cycle, supporting occupancy stability and lease-up for repositioned units. Amenity access for dining, parks, and pharmacies is a local advantage; lower average school ratings and mixed safety trends call for careful leasing strategy and active management.
- High renter-occupied share supports demand depth and retention potential
- 1972 vintage creates value-add and systems modernization opportunity
- Household and income growth within 3 miles support occupancy stability ahead
- Amenity access (dining, parks, pharmacies) enhances resident appeal
- Risks: softer neighborhood occupancy and mixed safety/school ratings require active management