| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 54th | Good |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6600 SW 57th Ave, South Miami, FL, 33143, US |
| Region / Metro | South Miami |
| Year of Construction | 2009 |
| Units | 47 |
| Transaction Date | 2016-01-26 |
| Transaction Price | $177,225,000 |
| Buyer | SCG ATLAS RED ROAD COMMONS LLC |
| Seller | RRC 57TH AVENUE LLC |
6600 SW 57th Ave, South Miami — 2009 Vintage Multifamily
Amenity density and a high neighborhood renter concentration point to durable demand, according to WDSuite’s CRE market data, while newer construction supports competitive positioning versus older local stock.
Situated in an inner-suburban pocket of South Miami, the neighborhood rates A and ranks 50th of 449 across the Miami metro, placing it in the top quartile among metro neighborhoods. Amenity access is a clear strength: cafes and restaurants score near the top of local rankings and are in the top percentiles nationally, and parks are also abundant. This concentration of daily conveniences tends to support leasing velocity and resident retention for workforce and lifestyle renters.
Relative to the metro, the area’s amenity rank (46 of 449) is competitive among Miami neighborhoods, and national percentiles for restaurants, cafes, childcare, and parks are elevated. By contrast, pharmacy access trails the pack locally, which may shift some errand trips to nearby districts. For investors, the mix suggests strong day-to-day livability with a few gaps that are manageable at the submarket scale.
Neighborhood renter concentration is high (measured as the share of housing units that are renter-occupied), ranking in the upper decile nationally. That depth of renter-occupied housing supports a wider tenant base for multifamily. However, neighborhood occupancy levels trend below national norms even after improving over the last five years, so underwriting should assume competitive positioning on operations and asset quality to capture share.
The asset’s 2009 construction is newer than the neighborhood average vintage (early 1990s), which generally enhances curb appeal and unit systems relative to older stock. That can reduce near-term capital expenditures while still leaving room for targeted modernization to drive rent premiums. Elevated neighborhood home values (top quintile nationally) indicate a high-cost ownership market, which typically sustains rental demand and can aid pricing power for well-located, well-managed properties.
Safety indicators are mixed relative to the region and nation. The neighborhood’s crime rank sits in the lower tier of the Miami metro (371 of 449), and national percentiles for both violent and property offenses are below average, signaling a need for prudent security and design measures. That said, violent offense rates show a modest year-over-year improvement, suggesting incremental progress rather than deterioration, based on WDSuite’s data.
For investors, the takeaway is to price in sensible operating practices—lighting, access controls, and resident engagement—while recognizing that broader Miami submarkets with similar profiles continue to lease successfully when assets are professionally managed.
The nearby employment base blends corporate headquarters and regional offices that support commuter convenience and multifamily renter demand, including Lennar, World Fuel Services, Mosaic, Ryder System, and Johnson & Johnson.
- Lennar — homebuilding HQ (6.9 miles) — HQ
- World Fuel Services — energy & logistics HQ (8.2 miles) — HQ
- Mosaic — chemicals & fertilizers (12.4 miles)
- Ryder System — transportation & logistics HQ (12.6 miles) — HQ
- Johnson & Johnson — healthcare & consumer products (13.4 miles)
This 2009-vintage, 47-unit property benefits from strong neighborhood livability and high renter concentration, supporting a broad tenant base. According to CRE market data from WDSuite, neighborhood occupancy has improved over the past five years yet remains below national benchmarks, indicating that competitive asset quality and professional operations are key levers for maintaining stability. Elevated home values in the surrounding area point to a high-cost ownership market, which typically sustains reliance on multifamily housing and can underpin pricing power for well-located assets.
Within a 3-mile radius, household counts have risen and are projected to expand further alongside smaller average household sizes—conditions that usually translate into a larger renter pool and support for occupancy and rent growth over time. The property’s newer vintage relative to neighborhood norms enhances its competitive set position while still allowing targeted value-add upgrades. Affordability pressures in the neighborhood suggest attentive lease management and retention strategies are prudent in underwriting.
- Newer 2009 vintage versus neighborhood average, supporting competitive positioning and lower near-term capex
- High neighborhood renter concentration expands the tenant base and supports leasing stability
- Amenity-rich inner suburb with top-quartile metro ranking, aiding retention and absorption
- High-cost ownership market reinforces reliance on rentals, supporting pricing power for quality assets
- Risk: Neighborhood occupancy trails national norms; success depends on execution and competitive operations