| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 17th | Poor |
| Amenities | 35th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13004 Alexandria Dr, Opa Locka, FL, 33054, US |
| Region / Metro | Opa Locka |
| Year of Construction | 1972 |
| Units | 62 |
| Transaction Date | 2015-09-25 |
| Transaction Price | $20,300,000 |
| Buyer | GLORIETA PARTNERS LTD |
| Seller | CREATIVE CHOICE HOMES II LTD |
13004 Alexandria Dr Opa Locka Multifamily Investment
Stabilized neighborhood occupancy and a 1972 vintage position this 62-unit asset for operational improvement and targeted renovations, according to CRE market data from WDSuite. The area’s steady renter demand supports income durability while value-add remains a viable lever.
Neighborhood fundamentals point to steady renter demand. The area s occupancy is 95.6% (neighborhood metric, not the property), placing it in the top quartile nationally and above the Miami-Miami Beach-Kendall metro median, based on WDSuite s CRE market data. Caf e9 density performs well versus national peers (upper tier nationally), and grocery access is also competitive, while broader amenity depth is more modest relative to metro peers.
Livability signals are mixed but serviceable for workforce housing. Caf e9 availability ranks strong nationally (around the upper quintiles), and grocery options score above average, though parks and pharmacies are limited within the neighborhood itself. These dynamics suggest day-to-day convenience for residents, with some trade-offs in recreational and healthcare-adjacent amenities compared with stronger-ranked submarkets.
Within a 3-mile radius (aggregated), households have increased over the last five years even as population edged down, indicating smaller household sizes and a gradually diversifying tenant base. Forecasts point to population growth and a sizable increase in households by 2028, which would expand the local renter pool and support occupancy stability if realized.
Tenure patterns within the 3-mile radius show a balanced mix, with a substantial owner presence alongside a meaningful share of renter-occupied units. This mix typically supports demand depth for multifamily while also introducing some competition from ownership options as incomes rise. Rent-to-income dynamics indicate affordability pressure in the immediate neighborhood, so lease management and renewal strategies remain important for retention.
Safety metrics are weaker than both national and metro benchmarks. The neighborhood ranks below the Miami-Miami Beach-Kendall metro median (394 of 449 neighborhoods), and national safety percentiles indicate elevated incident rates relative to many U.S. neighborhoods. Investors should underwrite with conservative assumptions and consider common area security, lighting, and resident engagement as standard operating measures.
Trend signals are mixed: property offenses show a year-over-year decline, which is a constructive directional indicator, while violent offense measures remain comparatively elevated. These data points are neighborhood-level and should be interpreted as contextual indicators rather than block-level risk assessments.
Proximity to diversified employers supports workforce renter demand and commute convenience, notably Johnson & Johnson, Ryder System, World Fuel Services, Mosaic, and Lennar. These employment nodes can aid leasing velocity and retention for value-oriented units.
- Johnson & Johnson healthcare & consumer products (2.7 miles)
- Ryder System logistics (8.3 miles) HQ
- World Fuel Services energy & fuel distribution (8.4 miles) HQ
- Mosaic fertilizers & industrial chemicals (10.0 miles)
- Lennar homebuilding (10.8 miles) HQ
13004 Alexandria Dr offers exposure to an inner-suburb location with neighborhood occupancy in the top quartile nationally, supporting income stability. The 1972 construction is slightly older than the neighborhood average year, creating clear scope for targeted value-add and systems upgrades to enhance competitive positioning while benefiting from steady renter demand, according to CRE market data from WDSuite.
Within a 3-mile radius (aggregated), recent household growth alongside a forecasted increase by 2028 points to a larger tenant base over time. Employer proximity across healthcare, logistics, energy, and homebuilding further underpins leasing fundamentals. Underwriting should account for affordability pressure in the immediate neighborhood and allocate capital for renovations and security enhancements.
- Neighborhood occupancy is strong versus metro and top quartile nationally, supporting cash flow durability
- 1972 vintage presents value-add and system upgrade opportunities relative to newer stock
- 3-mile household growth and forecasts suggest an expanding renter pool and leasing support
- Nearby employers across healthcare, logistics, energy, and homebuilding reinforce demand for workforce housing
- Risks: affordability pressure, safety perceptions, and renovation capex needs warrant conservative underwriting