| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 16th | Poor |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 580 NE 127th St, North Miami, FL, 33161, US |
| Region / Metro | North Miami |
| Year of Construction | 1973 |
| Units | 30 |
| Transaction Date | 2024-11-18 |
| Transaction Price | $5,900,000 |
| Buyer | 580 NE 127TH STREET LLC |
| Seller | 580 NORTH MIAMI LLC |
580 NE 127th St North Miami Multifamily Investment
Neighborhood renter concentration and a high-cost ownership market suggest durable demand for well-managed units, according to WDSuite s CRE market data. Large floor plans position the asset to compete on livability while targeting steady occupancy.
Located in North Miami s Urban Core, the property sits in a renter-driven area where the neighborhood s share of renter-occupied housing is high, supporting depth of tenant demand and lease-up resilience. Median home values in the neighborhood are elevated versus national norms, which tends to sustain reliance on multifamily rentals and can aid pricing power and retention for competitively positioned units.
Amenity access is mixed: cafes, parks, and pharmacies score in the top quartile nationally, while grocery and restaurant density is thinner. Within the Miami Miami Beach Kendall metro, overall amenity rank is above the metro median (214th of 449 neighborhoods), and cafe density is competitive among metro neighborhoods (116th of 449), reinforcing everyday convenience without depending on destination retail.
For investors assessing stability, neighborhood occupancy trends are moderate with recent improvement, and average household sizes are trending lower, which can diversify unit mix demand. The property s 1973 vintage is slightly older than the local average, implying typical capital planning needs but also potential value-add via interior modernization and systems upgrades to improve competitive positioning against newer stock.
Demographic statistics aggregated within a 3-mile radius indicate households and families have grown over the last cycle, with forecasts calling for further increases and a larger upper-income cohort. This points to a widening renter pool and supports occupancy stability, though the area s rent-to-income levels warrant attentive lease management to balance rent growth with retention.
Safety indicators are mixed when compared nationally and within the Miami Miami Beach Kendall metro. The neighborhood s overall crime rank sits in the lower tier locally (350th of 449 neighborhoods), indicating comparatively higher reported incidents than many metro peers. Nationally, property offense measures trend around the middle of the pack, while violent offense benchmarks track below national averages, with a recent year showing an uptick. Investors typically underwrite these dynamics through security enhancements, lighting, and resident engagement, and by weighing them against demand drivers and pricing.
Proximity to regional corporate offices supports workforce housing demand and commute convenience, with a concentration in healthcare, industrials, energy services, logistics, and homebuilding reflected below.
- Mosaic corporate offices (6.8 miles)
- Johnson & Johnson corporate offices (6.9 miles)
- World Fuel Services fuel services (11.8 miles) HQ
- Ryder System logistics (12.4 miles) HQ
- Lennar homebuilding (13.9 miles) HQ
This 30-unit, 1973-vintage asset with large average floor plans offers a practical value-add path in a renter-heavy pocket of North Miami. Elevated neighborhood home values relative to national norms and a growing household base within a 3-mile radius support a deeper tenant pool and steady absorption. Based on commercial real estate analysis from WDSuite, neighborhood occupancy has trended stable, suggesting potential for consistent cash flow with focused operations and selective renovations.
Investor considerations include calibrating rent growth to local rent-to-income levels and addressing typical mid-1970s systems and finishes to sharpen competitive positioning. With nearby employment nodes and everyday amenities testing well on a national basis, the asset can compete on livability and unit size while emphasizing operational discipline.
- Renter-heavy neighborhood and elevated local home values reinforce multifamily demand and retention potential.
- Large average unit sizes enable differentiation on livability and family-friendly layouts.
- Value-add opportunity from 1973 vintage via interior updates and systems modernization.
- Amenity access (cafes, parks, pharmacies) supports everyday convenience and leasing velocity.
- Risks: local safety ranks below many metro peers and rent-to-income pressure requires careful lease and renewal management.