| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 29th | Fair |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2300 NW 136th St, Opa Locka, FL, 33054, US |
| Region / Metro | Opa Locka |
| Year of Construction | 2006 |
| Units | 100 |
| Transaction Date | 2004-12-14 |
| Transaction Price | $650,000 |
| Buyer | PENINSULA HOUSING DEVELOPMENT INC XVI |
| Seller | BRAZILIAN PEPPER CORP |
2300 NW 136th St Opa Locka Multifamily Investment
Built in 2006 and newer than much of the area s stock, this 100-unit asset benefits from a renter-occupied neighborhood and broadly stable occupancy, according to WDSuite s CRE market data. The combination points to a durable tenant base with potential to outperform older nearby properties.
The property sits in an Inner Suburb of the Miami-Miami Beach-Kendall metro with neighborhood occupancy reported at a stable level and a renter-occupied share around two-thirds, indicating depth in the tenant base and support for leasing velocity (metrics reflect the neighborhood, not the property, based on CRE market data from WDSuite).
At the metro level, the neighborhood s renter concentration ranks 72 out of 449, which is competitive among Miami-Miami Beach-Kendall neighborhoods. This positioning typically supports demand for multifamily housing and can aid occupancy stability through cycles.
Local livability is mixed. Restaurants are relatively accessible for the area, while cafes, grocery stores, parks, and pharmacies are thinner on the ground. Average school ratings in the neighborhood track below national norms, which may influence unit mix performance for family-oriented renters; investors may prioritize on-site amenities to offset limited nearby options.
Within a 3-mile radius, household counts have been increasing and are projected to expand further, pointing to a larger tenant base over the next five years. Forecasts also indicate rising household incomes and rent levels, which can underpin rent growth, while still requiring careful lease management where rent-to-income ratios signal affordability pressure. Elevated home values relative to incomes in the neighborhood reinforce renter reliance on multifamily, supporting retention and pricing power.
Safety indicators are summarized at the neighborhood scale and may not reflect conditions at the specific property. Recent trends point to improvement: estimated property and violent offense rates have declined year over year, and the neighborhood s property offense profile places it in a strong position nationally. Violent offense metrics track better than many areas as well, though not among the very safest nationally.
For investors, the directional improvement and comparatively favorable national standing can support leasing and retention narratives; however, underwriting should still account for submarket variability within Miami-Dade and monitor ongoing trend stability.
Proximity to regional corporate offices supports commuting convenience and a diversified renter pool, led by healthcare, energy, logistics, and homebuilding employers noted below.
- Johnson & Johnson corporate offices (3.7 miles)
- Mosaic corporate offices (9.4 miles)
- Ryder System logistics & transportation (9.4 miles) HQ
- World Fuel Services energy & fuel services (9.5 miles) HQ
- Lennar homebuilding (11.8 miles) HQ
Constructed in 2006, the asset is materially newer than the neighborhood s older housing stock, offering relative competitiveness versus legacy properties while leaving room for targeted modernization as systems age. Neighborhood occupancy is broadly stable and the renter-occupied share is high for the metro, suggesting depth of demand and support for steady leasing. According to CRE market data from WDSuite, ownership costs are elevated relative to incomes locally, which tends to sustain renter reliance on multifamily housing.
Within a 3-mile radius, household counts are projected to rise alongside income growth, indicating a larger tenant base that can support occupancy and rent performance over time. Nearby corporate employers in healthcare, logistics, energy, and homebuilding add commute-driven demand that can bolster retention.
- 2006 vintage newer than area stock supports competitive positioning with selective value-add potential
- Renter-occupied neighborhood and stable occupancy underpin demand consistency
- 3-mile radius forecasts point to a larger tenant base and rising incomes supporting rent durability
- Proximity to major employers supports leasing and retention from commuting renters
- Risks: affordability pressure and limited nearby amenities/school ratings warrant prudent lease and capex planning