| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 31st | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1475 W 46th St, Hialeah, FL, 33012, US |
| Region / Metro | Hialeah |
| Year of Construction | 1972 |
| Units | 97 |
| Transaction Date | 1994-03-08 |
| Transaction Price | $5,850,000 |
| Buyer | TODEL APTS INC |
| Seller | EL PATIO INC |
1475 W 46th St Hialeah Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, positioning this Hialeah asset for stable lease-up and retention. The focus for investors is balancing durable demand with prudent capital planning for a 1970s vintage.
The property sits in Hialeah’s Urban Core, a B+ neighborhood within the Miami–Miami Beach–Kendall metro. Neighborhood occupancy is high (measured for the neighborhood, not the property) and ranks competitively among 449 metro neighborhoods, supporting income stability and fewer downtime gaps between turns based on CRE market data from WDSuite.
Local amenities are a strength: restaurants and cafés are dense by national standards (around the 90th percentile), with grocery and parks also well-represented. Average public school ratings trend near the national mid-to-above-median range, which can aid family renter retention. One operational consideration is limited pharmacy presence within the neighborhood, so residents may rely on nearby submarkets for certain services.
Tenure skews toward renter-occupied housing (about 52% of units), indicating a sizable tenant base and reinforcing multifamily depth. Home values are elevated relative to local incomes (high value-to-income percentile), which tends to sustain reliance on rental housing and can support pricing power when managed carefully.
Demographic statistics are aggregated within a 3-mile radius: while total population has inched down in recent years, household counts have increased and are projected to continue rising alongside smaller average household sizes. This pattern typically expands the renter pool and supports occupancy stability, even as unit mix and price points should be calibrated to income bands prevalent in the area.
Vintage context: the asset was built in 1972, older than the neighborhood’s average construction year (late 1970s). Investors should underwrite near- to medium-term capital expenditures and consider value-add or modernization to stay competitive versus newer stock.
Safety metrics for the neighborhood trend below national averages, with overall crime and violent-offense measures sitting in lower national percentiles. In metro context, conditions vary block to block; investors should focus on property-level security features, lighting, and management practices to support tenant retention and perception.
Recent-year trends indicate increases in both violent and property offenses, though levels remain mixed by category. When benchmarking against the Miami–Miami Beach–Kendall metro’s 449 neighborhoods, framing risk controls and tenant communication can help mitigate volatility and support leasing stability.
Proximity to major employers supports workforce housing demand and commute convenience, notably in healthcare products, energy logistics, transportation & logistics, homebuilding, and chemicals. These nodes can contribute to steady leasing and retention for renters seeking short drives to work.
- Johnson & Johnson — healthcare products (2.8 miles)
- World Fuel Services — energy logistics (4.6 miles) — HQ
- Ryder System — transportation & logistics (4.6 miles) — HQ
- Lennar — homebuilding (7.1 miles) — HQ
- Mosaic — chemicals (12.3 miles)
1475 W 46th St offers scale at 97 units in a renter-heavy Hialeah neighborhood where occupancy is strong and amenities are dense by national standards. The 1972 vintage suggests planning for capital improvements and potential value-add to enhance competitiveness against newer product. According to CRE market data from WDSuite, neighborhood occupancy performance is competitive within the Miami metro, while elevated ownership costs relative to incomes tend to reinforce reliance on multifamily housing.
Within a 3-mile radius, household counts have grown and are projected to keep rising as average household size trends smaller, which typically expands the renter pool and supports steady leasing. Key underwrites include affordability pressure management (given higher rent-to-income ratios), safety perception relative to national benchmarks, and ongoing asset maintenance consistent with 1970s construction.
- Competitive neighborhood occupancy and dense amenities support leasing stability
- 97-unit scale in renter-occupied area provides depth of tenant demand
- 1972 vintage offers clear value-add and modernization pathways
- Household growth within 3 miles points to a larger renter pool over time
- Risks: affordability pressures (rent-to-income), below-median safety metrics, and CapEx for older systems