| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 52nd | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2425 NE 135th St, North Miami, FL, 33181, US |
| Region / Metro | North Miami |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | 1993-11-09 |
| Transaction Price | $1,458,000 |
| Buyer | BORRONI ILIA |
| Seller | KIBON INV INC |
2425 NE 135th St North Miami Multifamily Investment
High renter concentration in the surrounding neighborhood supports depth of tenant demand even as local occupancy trends sit below metro norms, according to WDSuite’s CRE market data.
Positioned in North Miami’s Inner Suburb, the property sits in a neighborhood rated A- and ranked 114 out of 449 Miami metro neighborhoods—competitive among Miami neighborhoods. Amenity access is a relative strength: restaurants and cafes score in higher national percentiles, with parks and pharmacies also testing above average, which helps retention and leasing appeal for renters.
The neighborhood skews renter-occupied (64.3% of housing units are renter-occupied), signaling a deeper tenant base for multifamily. However, neighborhood occupancy levels track below metro averages, so operators should plan for active leasing and asset differentiation to sustain performance. Median home values trend elevated versus national norms, which typically reinforces reliance on rental housing and supports pricing power when managed carefully.
Within a 3-mile radius, households have grown and are projected to expand further over the next five years, while average household size is expected to edge lower. This combination points to a larger renter pool and steady absorption potential. Income growth in the same 3-mile radius is also projected to rise, supporting rent levels and renewal strategies when balanced against affordability considerations.
The average construction year across nearby stock is 2000, while this asset was built in 1972. The older vintage suggests potential capital planning and value-add opportunities—upgrades to interiors, systems, and curb appeal can sharpen competitive positioning against newer inventory.
Safety indicators are mixed. Relative to the Miami metro, the neighborhood’s crime rank sits in the lower half (rank 282 out of 449), indicating conditions that are below the metro average for safety. Nationally, violent incident rates align around midpack (roughly the 52nd percentile), with property incidents modestly better than average (around the 58th percentile), while overall crime levels benchmark below the national median (near the 38th percentile).
For investors, this suggests routine risk management—lighting, access control, and community engagement—can help support resident satisfaction and retention. Monitoring year-over-year trends remains prudent given recent variability in reported incident changes.
Proximity to major employers supports a stable renter base and commute convenience, with a mix of corporate offices and regional headquarters that can underpin leasing and renewals.
- Mosaic — corporate offices (6.4 miles)
- Johnson & Johnson — corporate offices (9.1 miles)
- World Fuel Services — energy & logistics (14.1 miles) — HQ
- Ryder System — transportation & logistics (14.8 miles) — HQ
- AutoNation — automotive retail (15.1 miles) — HQ
This 36-unit 1972 asset offers value-add potential in a renter-heavy submarket where amenity access and proximity to major employers support demand. While neighborhood occupancy trends run below metro averages, the surrounding renter concentration and projected household growth within a 3-mile radius point to a durable tenant base for operators who execute on renovations and leasing strategy.
Elevated home values in the neighborhood context typically reinforce reliance on multifamily housing, supporting pricing power when balanced against retention risk. According to CRE market data from WDSuite, local amenities benchmark above national averages and the area competes well within the Miami metro, suggesting a constructive backdrop for a refreshed, professionally managed offering.
- Renter-heavy neighborhood supports depth of demand and renewal prospects.
- 1972 vintage enables targeted value-add to compete with newer 2000-era stock.
- Amenity-rich location and nearby corporate employers bolster leasing and retention.
- Elevated ownership costs locally can sustain multifamily demand and pricing power.
- Risks: softer neighborhood occupancy and mixed safety benchmarks require active management and disciplined underwriting.