| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 45th | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6315 SW 8th St, West Miami, FL, 33144, US |
| Region / Metro | West Miami |
| Year of Construction | 2008 |
| Units | 35 |
| Transaction Date | 2004-05-19 |
| Transaction Price | $400,000 |
| Buyer | CAMAGUEY PLAZA LLC |
| Seller | ALVAREZ FERNANDO |
6315 SW 8th St, West Miami Investment Asset
Built in 2008, the property positions well versus older West Miami stock, and neighborhood occupancy trends sit above the metro median, according to WDSuite’s CRE market data.
The immediate neighborhood is rated A- and ranks 98 out of 449 within the Miami-Miami Beach-Kendall metro, placing it above the metro median. Amenity access is a notable strength: grocery and pharmacy density sits in the top quartile nationally, and cafes are also competitive among metro peers. These factors support day-to-day convenience and help sustain renter appeal.
Rents in the neighborhood trend above many areas nationally while the rent-to-income ratio remains comparatively moderate, which can support lease retention and reduce affordability pressure from an investor perspective. Home values sit in a high-cost ownership context (top decile nationally by value-to-income), which tends to reinforce reliance on multifamily housing and supports pricing power over time.
Neighborhood occupancy is strong and above the metro median among 449 neighborhoods, indicating steady leasing dynamics rather than a lease-up market. Roughly 44.5% of housing units are renter-occupied, pointing to a meaningful renter concentration that underpins depth of tenant demand and supports ongoing absorption.
Within a 3-mile radius, recent trends show a modest population contraction alongside an increase in households, and forecasts point to further household growth with smaller average household sizes. For multifamily, that pattern typically expands the renter pool and supports occupancy stability even as demographics shift, based on CRE market data from WDSuite.
Safety indicators are mixed relative to broader benchmarks. Overall crime performance sits near the national middle, and the neighborhood ranks 166 out of 449 within the Miami metro, indicating it is close to metro averages rather than an outlier on either end.
Recent trends show a sizable year-over-year decline in estimated property offenses (down about a third), a positive directional signal for investors. At the same time, estimated violent offenses increased modestly over the same period. Together, these measures suggest monitoring safety trends as part of ongoing asset management rather than assuming a static risk profile.
The surrounding employment base includes several nearby corporate offices and headquarters that support commuter convenience and multifamily demand, notably Lennar, World Fuel Services, Ryder System, Johnson & Johnson, and Mosaic.
- Lennar — corporate offices (4.5 miles) — HQ
- World Fuel Services — corporate offices (4.8 miles) — HQ
- Ryder System — corporate offices (9.0 miles) — HQ
- Johnson & Johnson — corporate offices (9.6 miles)
- Mosaic — corporate offices (11.4 miles)
This 2008 vintage, approximately 35-unit asset benefits from a location with strong amenity access and an above-median neighborhood occupancy profile within the Miami metro. The newer construction relative to the neighborhood’s older 1970 average enhances competitive positioning versus legacy stock, while still allowing for selective modernization to elevate finishes and systems as part of a value-add plan. According to commercial real estate analysis from WDSuite, elevated ownership costs in the area support sustained renter reliance, which can aid pricing power and lease retention.
Within a 3-mile radius, households have increased and are projected to grow further even as average household size declines—conditions that typically expand the renter base and support occupancy stability. Near-term monitoring is warranted for mixed safety signals and broader macro sensitivities, but local employment anchors and day-to-day amenities provide durable demand drivers.
- 2008 construction competes well against older neighborhood stock while offering targeted value-add potential.
- Above-median neighborhood occupancy among 449 metro neighborhoods supports stable leasing conditions.
- High-cost ownership context reinforces multifamily demand and can support pricing power.
- 3-mile household growth and shrinking household size point to a larger renter pool and retention upside.
- Risks: mixed safety trends and macro sensitivity warrant ongoing monitoring and disciplined asset management.