| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 45th | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6355 SW 8th St, West Miami, FL, 33144, US |
| Region / Metro | West Miami |
| Year of Construction | 2009 |
| Units | 105 |
| Transaction Date | 2005-03-11 |
| Transaction Price | $900,000 |
| Buyer | SALZEDO 1 REALTY LLC |
| Seller | GABLES SUNVIEW LLC |
6355 SW 8th St West Miami Multifamily Opportunity
Neighborhood occupancy is strong and renter demand is durable, according to WDSuite’s CRE market data, supporting steady leasing dynamics in this West Miami corridor.
This Urban Core location benefits from a dense amenity base that supports resident retention and day-to-day convenience. Neighborhood-level data show pharmacies near the top nationally (100th percentile) alongside strong access to groceries and cafes (both 96th percentile), with parks also testing high (89th percentile). These fundamentals help sustain leasing velocity for workforce and professional renters without relying on destination retail.
The asset s 2009 vintage is newer than the neighborhood s average 1970 construction year, offering a competitive edge versus older stock while leaving room for targeted system updates or repositioning to meet current renter expectations. At the neighborhood level, occupancy is elevated (77th percentile nationally), a signal of stable housing absorption rather than short-term spikes. The share of housing units that are renter-occupied is meaningful (84th percentile nationally), indicating a deep tenant base that can support multifamily demand across cycles.
Within a 3-mile radius, demographics point to an evolving renter pool: population has modestly contracted while household counts increased, and projections indicate further household growth alongside smaller average household sizes. For investors, that pattern typically expands the addressable renter base and supports occupancy stability even as unit mix preferences shift. Median household incomes have advanced materially over the past five years, and forecast rent levels are expected to rise from today s benchmarks, underscoring ongoing pricing power where product quality and management execution are competitive.
Ownership costs in the neighborhood are elevated (home values around the 80th percentile nationally and value-to-income near the 95th percentile), reinforcing reliance on rental housing. At the same time, neighborhood rent-to-income sits toward the lower end nationally, which can reduce affordability pressure and support lease retention for well-managed units.
Safety indicators sit near the national middle, with crime measures around the 37th th to 47th percentiles nationally depending on offense type. Within the Miami-Miami Beach-Kendall metro, the neighborhood s crime rank is 166 out of 449, which is competitive among metro neighborhoods. Property offenses improved notably year over year (approximately a one-third decline), placing that improvement in the top quartile nationally, while violent offense trends warrant continued monitoring given recent upticks.
Proximity to major employers supports a diverse workforce renter base and commute convenience. Nearby anchors include Lennar, World Fuel Services, Ryder System, Johnson & Johnson, and Mosaic, which help sustain leasing and retention in surrounding multifamily assets.
- Lennar homebuilding HQ (4.5 miles) HQ
- World Fuel Services energy & logistics HQ (4.8 miles) HQ
- Ryder System transportation & logistics HQ (9.0 miles) HQ
- Johnson & Johnson healthcare offices (9.6 miles)
- Mosaic corporate offices (11.5 miles)
6355 SW 8th St offers exposure to a renter-heavy Urban Core submarket where daily-needs amenities and elevated ownership costs underpin multifamily demand. Based on CRE market data from WDSuite, neighborhood occupancy trends sit above national norms with a renter-occupied share that signals depth of demand. The 2009 construction year positions the asset competitively versus older area stock, with potential upside from selective modernization and operational execution.
Within a 3-mile radius, household counts are rising and are projected to continue growing even as average household size trends smaller. That dynamic typically broadens the tenant base and supports steady leasing. High home values relative to incomes reinforce reliance on rentals, while rent-to-income levels indicate manageable affordability pressure that can aid retention for well-run properties. Investors should balance these positives with measured safety trends and keep an eye on shifts in local demographics and consumer preferences.
- Newer 2009 vintage versus neighborhood average, offering competitive positioning with targeted value-add potential
- Elevated neighborhood occupancy and a high renter-occupied share support demand stability
- Amenity-rich location (groceries, pharmacies, parks, cafes) bolsters livability and leasing
- High-cost ownership market reinforces rental reliance while rent-to-income suggests retention support
- Risks: middle-of-pack safety metrics with mixed recent trends; demographic shifts may influence unit mix demand