| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 33rd | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 120 SW 8th Ave, Miami, FL, 33130, US |
| Region / Metro | Miami |
| Year of Construction | 2010 |
| Units | 63 |
| Transaction Date | 2015-12-16 |
| Transaction Price | $13,600,000 |
| Buyer | Bedford Realty Group, LLC |
| Seller | --- |
120 SW 8th Ave Miami Multifamily Investment
Neighborhood data points to a deep renter base and steady occupancy for this urban-core asset, according to WDSuite’s CRE market data. Investor focus centers on durable renter demand and competitive positioning relative to nearby older stock.
Situated in Miami’s Urban Core, the property benefits from neighborhood fundamentals that are competitive among Miami-Miami Beach-Kendall’s 449 neighborhoods. Amenity access ranks 54th of 449, placing the area in a strong local position and in the top quartile nationally for overall amenities. High concentrations of restaurants, groceries, pharmacies, and cafes translate to everyday convenience that tends to support resident retention and leasing velocity.
The submarket’s apartment occupancy for the neighborhood sits around the middle of the national distribution, while renter concentration is notably high: a large share of housing units are renter-occupied at the neighborhood level. For investors, this indicates depth in the tenant pool and supports ongoing demand for professionally managed multifamily product.
The property’s vintage is 2010, newer than the neighborhood’s average construction year of 1972. Newer product can compete effectively against older buildings on finishes and systems, though investors should still plan for normal mid-life capital items and potential repositioning to meet evolving renter preferences.
Within a 3-mile radius, population and household counts have grown and are projected to expand further, pointing to a larger tenant base over time. Median contract rents have trended upward locally, and elevated ownership costs in the neighborhood context (home values measure in a higher national percentile) tend to reinforce reliance on rental housing—an investor positive for pricing power and lease-up stability when asset quality aligns with market expectations. School ratings in the area sit in the lower range nationally; operators may lean more on amenity access, commute convenience, and unit quality to drive demand.
Safety indicators at the neighborhood level track below national medians, with rankings toward the higher-crime end of Miami-Miami Beach-Kendall’s 449 neighborhoods. Even so, recent data show year-over-year declines in both property and violent offense estimates, suggesting incremental improvement. For underwriting, this typically argues for attentive security measures and resident-experience investments to support retention.
Nearby corporate offices help anchor employment and commuting demand for workforce and professional renters. The list below includes Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System—employers whose proximity can support leasing stability for well-managed assets.
- Mosaic — corporate offices (5.9 miles)
- World Fuel Services — corporate offices (9.5 miles) — HQ
- Lennar — corporate offices (10.1 miles) — HQ
- Johnson & Johnson — corporate offices (10.6 miles)
- Ryder System — corporate offices (12.9 miles) — HQ
120 SW 8th Ave offers 63 units averaging 843 sq. ft., positioned in an amenity-rich urban neighborhood where renter concentration is high and occupancy for the neighborhood has been stable. Based on commercial real estate analysis using WDSuite’s datasets, newer-vintage construction (2010) provides a competitive edge versus the area’s older housing stock, with typical mid-cycle capital planning still warranted.
Within a 3-mile radius, recent and projected growth in households indicates a larger renter pool ahead, supporting demand durability. Elevated home values at the neighborhood level favor sustained reliance on rentals, while the local rent-to-income profile suggests affordability pressure that calls for focused lease management and amenity-driven retention. Safety metrics track below national medians but have improved year over year; prudent operational measures can mitigate risk and support resident experience.
- Urban-core location with strong amenity access and deep renter-occupied housing base at the neighborhood level
- 2010 construction competes well versus older local stock; plan for normal mid-life capital
- 3-mile household growth and projections point to a larger tenant base and leasing durability
- High-cost ownership landscape supports pricing power for quality rentals
- Risks: below-median safety metrics and affordability pressure require active management and resident-experience focus