| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 17th | Poor |
| Amenities | 35th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13350 Aswan Rd, Opa Locka, FL, 33054, US |
| Region / Metro | Opa Locka |
| Year of Construction | 1972 |
| Units | 51 |
| Transaction Date | 2004-05-14 |
| Transaction Price | $1,850,000 |
| Buyer | CROSSMAN CHRISTOPHER |
| Seller | TREASURE CONSTRUCTION CORP |
13350 Aswan Rd Opa Locka Multifamily Investment
Neighborhood occupancy has held firm and renter concentration is high, according to WDSuite’s CRE market data, pointing to durable tenant demand in Opa Locka. Comparative positioning favors pragmatic value-add over premium repositioning for this address.
Situated in Miami-Dade’s inner suburbs, the neighborhood shows above metro median occupancy (ranked 207 of 449 metro neighborhoods) with an estimated 95.6% neighborhood occupancy. For investors, this suggests a stable leasing backdrop relative to many Miami submarkets, per commercial real estate analysis from WDSuite.
Renter-occupied housing share is among the highest in the metro (ranked 3 of 449; top percentile nationally), indicating a deep renter base that can support multifamily absorption and renewal activity. At the same time, rent-to-income levels are elevated in the neighborhood, warranting disciplined lease management to balance pricing power and retention.
Livability signals are mixed. Cafes and grocery access track near or above national midpoints (cafes ~79th percentile; groceries ~69th), while parks and pharmacies are limited within the immediate neighborhood. School ratings are not available in the dataset, so underwriting should emphasize local due diligence on education options and daily services rather than assume strength or weakness.
The property’s 1972 vintage precedes the neighborhood’s average construction year (1978). For investors, that typically points to capital planning for systems, exteriors, and interiors, with potential to capture value-add premiums relative to older nearby stock. Demographics aggregated within a 3-mile radius show household counts increasing historically and projected to expand further alongside rising incomes, which supports a larger tenant base and occupancy stability over the medium term, based on CRE market data from WDSuite.
Safety trends are mixed relative to the Miami metro and the nation. The neighborhood’s crime profile ranks 372 out of 449 metro neighborhoods, indicating it performs below the metro median and below national midpoints. Investors should underwrite security measures and operating practices that reflect an urban workforce-renter environment.
Property offenses have moved lower recently (improving momentum versus many neighborhoods nationally), while violent offense trends have ticked up year over year. In practical terms, this supports prudent on-site management, lighting, access control, and resident engagement, with comps focused on similarly situated inner-suburban submarkets rather than the region’s top-quartile areas.
Proximity to established corporate employers underpins workforce-driven demand and commute convenience. Nearby offices include Johnson & Johnson, Ryder System, World Fuel Services, Mosaic, and Lennar, supporting leasing depth for service, logistics, and corporate roles.
- Johnson & Johnson — corporate offices (3.1 miles)
- Ryder System — corporate offices (8.7 miles) — HQ
- World Fuel Services — corporate offices (8.8 miles) — HQ
- Mosaic — corporate offices (9.8 miles)
- Lennar — corporate offices (11.2 miles) — HQ
This 51-unit, early-1970s asset benefits from a renter-heavy neighborhood with occupancy above the metro median and a deep tenant base. According to CRE market data from WDSuite, cafes and groceries index near or above national midpoints, while limited parks/pharmacy access and below-median neighborhood safety argue for active asset management. The 1972 vintage is older than the neighborhood average, creating a clear value-add pathway through targeted systems and interior updates to sharpen competitive positioning.
Within a 3-mile radius, household counts have risen and are projected to expand further alongside higher median incomes, indicating a larger renter pool that can support occupancy stability and measured rent growth over the medium term. Underwriting should balance this demand backdrop against affordability pressure in the immediate neighborhood by emphasizing renewals, unit mix strategy, and cost control.
- High renter concentration supports depth of demand and renewal stability.
- Neighborhood occupancy above metro median points to steady leasing conditions.
- 1972 vintage provides actionable value-add levers through system and interior upgrades.
- 3-mile household and income growth expands the tenant base and supports pricing power.
- Risks: below-median safety and local affordability pressure require proactive management and disciplined renewals.