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OFFERING MEMORANDUM 1029 NW 5TH STREET , MIAMI FL 33128

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Page 1: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

OFFER

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1029 NW 5TH STREET , MIAMI FL 33128

Page 2: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

CONTENTS

Exclusively Marketed by:

George Jimenez George GilPresident / Broker Investment Adviser | Associate(305) 336-6381 (786) 346-2406License # BK3274154 License # [email protected] [email protected]

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice.  We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.

01 Executive Summary Investment Summary 5 Unit Mix Summary 6 Location Summary 7

02 Property Description Property Features 9 Aerial Map 10

03 Sale Comps Sale Comparables 12 Sale Comparables Summary 16 Sale Comparables Charts 17 Sale Comparables Map 18

04 Financial Analysis Income & Expense Analysis 20 Cash Flow Analysis 21

05 Demographics Demographics 24 Demographic Charts 26

Page 3: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Multifamily Real Estate GroupInc. and it should not be made available to any other person or entity without the written consent of Multifamily Real Estate Group Inc.. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees thatrecipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to Multifamily RealEstate Group Inc.. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Multifamily Real Estate Group Inc. has not made any investigation, and makes no warranty orrepresentation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property andimprovements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvementsthereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Multifamily Real Estate Group Inc. has not verified, and will not verify, any ofthe information contained herein, nor has Multifamily Real Estate Group Inc. conducted any investigation regarding these matters and makes no warranty or representation whatsoever regardingthe accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall beresponsible for their costs and expenses of investigating the subject property.

Confidentiality and Disclaimer | 03

CONFIDENTIALITY AND DISCLAIMER

PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT MULTIFAMILY REAL ESTATE GROUP INC. FOR MORE DETAILS.Copyright © 2020 CREOP, LLC. All Rights Reserved.

Page 4: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

| Executive Summ

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Executive Summary01

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Investment Summary

Unit Mix Summary

Location Summary

Page 5: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Investment Summary | 05

OFFERING SUMMARYADDRESS 1029 NW 5th Street

Miami FL 33128BUILDING SF 3,995LAND SF 7,500NUMBER OF UNITS 6YEAR BUILT 1973OWNERSHIP TYPE Fee Simple

FINANCIAL SUMMARYOFFERING PRICE $975,000PRICE PSF $244.06PRICE PER UNIT $162,500OCCUPANCY 98.00 %NOI (CURRENT) $48,634NOI (Pro Forma) $54,514CAP RATE (CURRENT) 4.99 %CAP RATE (Pro Forma) 5.59 %

PROPOSED FINANCINGLOAN TYPE Fully AmortizedDOWN PAYMENT $292,500LOAN AMOUNT $682,500INTEREST RATE 4.25 %ANNUAL DEBT SERVICE $40,292LOAN TO VALUE 70 %AMORTIZATION PERIOD 30 Years

DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2019 Population 57,456 323,616 558,0882019 Median HH Income $20,814 $40,083 $41,1222019 Average HH Income $33,469 $67,490 $70,477

Multifamily Real Estate Group is pleased to exclusively bring to market1029 NW 5th Street. Miami FL. The property consists of 6 units, of whichfour are over-sized 1-bedroom / 1-bathroom and two 2-bedroom / 1-bathroom units, all units are equipped with central A/C and newerkitchens. The property was originally built in 1973, with 3,995 Sq. Ft ofliving area, sits on a lot of 7,500 Sq. Ft and assigned parking for eachtenant.

A future owner could raise rents to market and achieve a 5.59 Cap and a$54,514 NOI. All current tenants are on below-market rents and on amonth to month leases. An investor could achieve after securing a 30-yearamortized loan with 70 LTV and a 4.25% interest rate a 8.7% total return.

The subject property has an outstanding location within the Miami River.Less than one mile away from all the outgoing redevelopment of the MiamiRiver, two miles from the Jackson Memorial Hospital, and five miles toBrickell as Miami’s Financial District. Those factors positively impact thedemand for rentals in the area and the subject property, with JacksonMemorial Hospital as one of the major employers in Miami-Dade Countyand the proximity to the Miami River and Brickell as well-knownemployment hubs due to the number of hotels and restaurants servinglocals and the 15.5 million tourists visiting Miami every year.

The positive transformation and capital investment by the private sectorand developers have been exposed in a recent article by the "MiamiToday". Where: “…recent activity showing that developers arerecognizing the potential of the Miami River for urban development,including a $1 billion mixed-use project by the Chetrit Group and JDSDevelopment Group, KAR Properties’ luxury condo project One RiverPoint, and Andrew Hellinger’s $380 million mixed-use apartment and retailcomplex, River Landing”

Page 6: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Unit Mix Summary | 06

Actual MarketUnit Mix # Units Square Feet Current Rent Rent PSF Monthly Income Market Rent Market Rent PSF Market Income

2 bd + 1 ba 2 795 $1,250 $1.57 $2,500 $1,400 $1.76 $2,8001 bd + 1 ba 4 600 $1,100 $1.83 $4,400 $1,150 $1.92 $4,600

Totals/Averages 6 665 $1,150 $1.75 $6,900 $1,233 $1.87 $7,400

Page 7: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Location Summary | 07

Page 8: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

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Property Features

Aerial Map

Parcel Map

Page 9: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Property Features | 09

PROPERTY FEATURESNUMBER OF UNITS 6BUILDING SF 3,995LAND SF 7,500YEAR BUILT 1973NUMBER OF STORIES 2NUMBER OF BUILDINGS 1

Page 10: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Aerial Map | 10

Page 11: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

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Sale Comparables

Sale Comparables Summary

Sale Comparables Charts

Sale Comparables Map

Page 12: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Sale Comparables | 12

1

817 NW 2nd StreetMiami, FL 33128

TOTAL UNITS 6YEAR BUILT 1974SALE PRICE $1,020,000PRICE/UNIT $170,000PRICE/SF $183.16CAP RATE 5.21 %OCCUPANCY 98.00 %BUILDING SF 5,569YEAR BUILT 1974CLOSING DATE 10/3/2019DISTANCE 0.5 miles

Cap Rate Range 4.99 % - 5.90 %

LOW HIGH

Price/Unit Range $162,500 - $202,500

LOW HIGH

Price S/F $183 - $296

LOW HIGH

2

119 SW 8th AvenueMiami , FL 33130

TOTAL UNITS 4YEAR BUILT 1970SALE PRICE $680,000PRICE/UNIT $170,000PRICE/SF $270.38CAP RATE 5.30 %OCCUPANCY 98.00 %BUILDING SF 2,515YEAR BUILT 1970CLOSING DATE 9/30/2019DISTANCE 0.7 miles

Cap Rate Range 4.99 % - 5.90 %

LOW HIGH

Price/Unit Range $162,500 - $202,500

LOW HIGH

Price S/F $183 - $296

LOW HIGH

Page 13: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Sale Comparables | 13

3

651 SW 3rd StreetMiami, FL 33130

TOTAL UNITS 6YEAR BUILT 1972SALE PRICE $1,035,000PRICE/UNIT $172,500PRICE/SF $263.63CAP RATE 5.30 %OCCUPANCY 98.00 %BUILDING SF 3,926YEAR BUILT 1972CLOSING DATE 6/6/2019DISTANCE 0.9 miles

Cap Rate Range 4.99 % - 5.90 %

LOW HIGH

Price/Unit Range $162,500 - $202,500

LOW HIGH

Price S/F $183 - $296

LOW HIGH

4

1030 SW 7th StreetMiami, FL 33130

TOTAL UNITS 4YEAR BUILT 1978SALE PRICE $810,000PRICE/UNIT $202,500PRICE/SF $262.14CAP RATE 5.80 %OCCUPANCY 98.00 %BUILDING SF 3,090YEAR BUILT 1978CLOSING DATE 6/25/2018DISTANCE 0.9 miles

Cap Rate Range 4.99 % - 5.90 %

LOW HIGH

Price/Unit Range $162,500 - $202,500

LOW HIGH

Price S/F $183 - $296

LOW HIGH

Page 14: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Sale Comparables | 14

5

528 NW 11th AvenueMiami, FL 33136

TOTAL UNITS 4YEAR BUILT 1974SALE PRICE $765,000PRICE/UNIT $191,250PRICE/SF $286.62CAP RATE 5.90 %OCCUPANCY 98.00 %BUILDING SF 2,669YEAR BUILT 1974CLOSING DATE 6/21/2018DISTANCE 0.2 miles

Cap Rate Range 4.99 % - 5.90 %

LOW HIGH

Price/Unit Range $162,500 - $202,500

LOW HIGH

Price S/F $183 - $296

LOW HIGH

Notes Property Sold By George Jimenez

6

1653 NW 1st StreetMiami , FL 33125

TOTAL UNITS 6YEAR BUILT 1973SALE PRICE $1,050,000PRICE/UNIT $175,000PRICE/SF $228.06CAP RATE 5.50 %OCCUPANCY 98.00 %BUILDING SF 4,604YEAR BUILT 1973CLOSING DATE 6/11/2018DISTANCE 1.2 miles

Cap Rate Range 4.99 % - 5.90 %

LOW HIGH

Price/Unit Range $162,500 - $202,500

LOW HIGH

Price S/F $183 - $296

LOW HIGH

Page 15: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Sale Comparables | 15

7

401 SW 5th StreetMiami, FL 33130

TOTAL UNITS 4YEAR BUILT 1973SALE PRICE $750,000PRICE/UNIT $187,500PRICE/SF $295.74CAP RATE 5.60 %OCCUPANCY 98.00 %BUILDING SF 2,536YEAR BUILT 1973CLOSING DATE 2/21/2018DISTANCE 1.3 miles

Cap Rate Range 4.99 % - 5.90 %

LOW HIGH

Price/Unit Range $162,500 - $202,500

LOW HIGH

Price S/F $183 - $296

LOW HIGH

S

1029 NW 5th StreetMiami , FL 33128

TOTAL UNITS 6

YEAR BUILT 1973

ASKING PRICE $975,000

PRICE/UNIT $162,500

PRICE/SF $244.06

CAP RATE 4.99 %

OCCUPANCY 98.00 %

BUILDING SF 3,995

YEAR BUILT 1973

Cap Rate Range 4.99 % - 5.90 %

LOW HIGH

Price/Unit Range $162,500 - $202,500

LOW HIGH

Price S/F $183 - $296

LOW HIGH

Page 16: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Sale Comparables Summary | 16

PROPERTY Units Built Sale Price Price/Unit PSF Cap Rate Close Date DISTANCE (mi)

1 817 NW 2nd StreetMiami, FL 33128 6 1974 $1,020,000 $170,000 $183.16 5.21% 10/3/2019 0.50

2 119 SW 8th AvenueMiami , FL 33130 4 1970 $680,000 $170,000 $270.38 5.30% 9/30/2019 0.70

3 651 SW 3rd StreetMiami, FL 33130 6 1972 $1,035,000 $172,500 $263.63 5.30% 6/6/2019 0.90

4 1030 SW 7th StreetMiami, FL 33130 4 1978 $810,000 $202,500 $262.14 5.80% 6/25/2018 0.90

5 528 NW 11th AvenueMiami, FL 33136 4 1974 $765,000 $191,250 $286.62 5.90% 6/21/2018 0.20

6 1653 NW 1st StreetMiami , FL 33125 6 1973 $1,050,000 $175,000 $228.06 5.50% 6/11/2018 1.20

7 401 SW 5th StreetMiami, FL 33130 4 1973 $750,000 $187,500 $295.74 5.60% 2/21/2018 1.30

AVERAGES 5 1973 $872,857 $181,250 $255.68 5.52%

SUBJECT 6 1973 $975,000 $162,500 $244.06 4.99%

Page 17: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Sale Comparables Charts | 17

Page 18: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Sale Comparables Map | 18

# Address CityS 1029 NW 5th Street Miami1 817 NW 2nd Street Miami2 119 SW 8th Avenue Miami3 651 SW 3rd Street Miami4 1030 SW 7th Street Miami5 528 NW 11th Avenue Miami6 1653 NW 1st Street Miami7 401 SW 5th Street Miami

Page 19: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

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Page 20: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Income & Expense Analysis | 20

INCOME CURRENT PRO FORMA

Gross Potential Rent $82,800 $88,800

Other Income $1,560 $1,560

Gross Potential Income $84,360 $90,360

Less: General Vacancy $1,656 $1,776

Effective Gross Income $82,704 $88,584

Less: Expenses $34,070 $34,070

Net Operating Income $48,634 $54,514

Principal Reduction $11,286 $11,286

Total Return 6.7 % $19,628 8.7 % $25,508

EXPENSES CURRENT PRO FORMA

Real Estate Taxes $2,988 $17,930 $2,988 $17,930

Insurance $900 $5,400 $900 $5,400

Repairs & Maintenance $350 $2,100 $350 $2,100

Water / Sewer $840 $5,040 $840 $5,040

Electric FPL $200 $1,200 $200 $1,200

Waste Removal $400 $2,400 $400 $2,400

Total Operating Expense $5,678 $34,070 $5,678 $34,070

Annual Debt Service $6,715 $40,292 $6,715 $40,292

Expense / SF $8.52 $8.52

% of EGI 41.20 % 38.46 %

Per Unit Per Unit

REVENUE ALLOCATION

DISTRIBUTION OF EXPENSES

Page 21: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Cash Flow Analysis | 21

CASH FLOWCalendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Gross Potential RevenueGross Rental Income $82,800 $88,800 $88,800 $88,800 $88,800 $88,800 $88,800 $88,800 $88,800 $88,800Other Income $1,560 $1,560 $1,560 $1,560 $1,560 $1,560 $1,560 $1,560 $1,560 $1,560Gross Potential Income $84,360 $90,360 $90,360 $90,360 $90,360 $90,360 $90,360 $90,360 $90,360 $90,360General Vacancy $1,656 $1,776 $1,776 $1,776 $1,776 $1,776 $1,776 $1,776 $1,776 $1,776Effective Gross Income $82,704 $88,584 $88,584 $88,584 $88,584 $88,584 $88,584 $88,584 $88,584 $88,584Operating ExpensesReal Estate Taxes $17,930 $17,930 $17,930 $17,930 $17,930 $17,930 $17,930 $17,930 $17,930 $17,930Insurance $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400Repairs & Maintenance $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100Water / Sewer $5,040 $5,040 $5,040 $5,040 $5,040 $5,040 $5,040 $5,040 $5,040 $5,040Electric FPL $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200Waste Removal $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400Total Operating Expense $34,070 $34,070 $34,070 $34,070 $34,070 $34,070 $34,070 $34,070 $34,070 $34,070Net Operating Income $48,634 $54,514 $54,514 $54,514 $54,514 $54,514 $54,514 $54,514 $54,514 $54,514Annual Debt Service $40,292 $40,292 $40,292 $40,292 $40,292 $40,292 $40,292 $40,292 $40,292 $40,292Cash Flow $8,342 $14,222 $14,222 $14,222 $14,222 $14,222 $14,222 $14,222 $14,222 $14,222

Effective Gross Income vs Operating Expenses Cash Flow

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Cash Flow Analysis | 22

Calendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Financial MetricsCash on Cash Return b/t 2.85 % 4.86 % 4.86 % 4.86 % 4.86 % 4.86 % 4.86 % 4.86 % 4.86 % 4.86 %CAP Rate 4.99 % 5.59 % 5.59 % 5.59 % 5.59 % 5.59 % 5.59 % 5.59 % 5.59 % 5.59 %Debt Coverage Ratio 1.21 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35Operating Expense Ratio 41.19 % 38.46 % 38.46 % 38.46 % 38.46 % 38.46 % 38.46 % 38.46 % 38.46 % 38.46 %Loan to Value 70.03 % 68.80 % 67.55 % 66.26 % 64.91 % 63.50 % 62.03 % 60.50 % 58.91 % 57.24 %Breakeven Ratio 89.91 % 83.95 % 83.95 % 83.95 % 83.95 % 83.95 % 83.95 % 83.95 % 83.95 % 83.95 %Price / SF $244.06 $244.06 $244.06 $244.06 $244.06 $244.06 $244.06 $244.06 $244.06 $244.06Price / Unit $162,500 $162,500 $162,500 $162,500 $162,500 $162,500 $162,500 $162,500 $162,500 $162,500Income / SF $20.70 $22.17 $22.17 $22.17 $22.17 $22.17 $22.17 $22.17 $22.17 $22.17Expense / SF $8.52 $8.52 $8.52 $8.52 $8.52 $8.52 $8.52 $8.52 $8.52 $8.52

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Page 24: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Demographics | 24

POPULATION 1 MILE 3 MILE 5 MILE

2000 Population 50,006 243,976 451,658

2010 Population 52,250 276,445 491,876

2019 Population 57,456 323,616 558,088

2024 Population 61,012 352,765 599,509

2019 African American 6,754 39,640 104,393

2019 American Indian 322 1,197 1,696

2019 Asian 293 3,981 6,444

2019 Hispanic 50,314 255,382 390,501

2019 Other Race 3,977 17,183 24,386

2019 White 43,900 251,512 405,238

2019 Multiracial 2,202 10,026 15,803

2019-2024: Population: Growth Rate 6.05 % 8.70 % 7.20 %

2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE

less than $15,000 8,540 28,458 47,217

$15,000-$24,999 4,052 16,991 28,438

$25,000-$34,999 2,571 14,533 24,830

$35,000-$49,999 3,387 16,504 28,680

$50,000-$74,999 2,249 19,637 33,587

$75,000-$99,999 846 11,438 19,834

$100,000-$149,999 613 13,188 22,509

$150,000-$199,999 133 5,611 9,693

$200,000 or greater 197 7,150 13,909

Median HH Income $20,814 $40,083 $41,122

Average HH Income $33,469 $67,490 $70,477

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2000 Total Housing 21,205 99,782 193,698

2010 Total Households 20,752 110,810 199,738

2019 Total Households 22,589 133,518 228,708

2024 Total Households 23,865 146,798 246,346

2019 Average Household Size 2.45 2.37 2.40

2000 Owner Occupied Housing 2,152 29,110 62,835

2000 Renter Occupied Housing 17,213 61,072 111,149

2019 Owner Occupied Housing 2,256 41,577 72,686

2019 Renter Occupied Housing 20,333 91,941 156,022

2019 Vacant Housing 2,388 19,486 34,391

2019 Total Housing 24,977 153,004 263,099

2024 Owner Occupied Housing 2,456 45,811 79,006

2024 Renter Occupied Housing 21,409 100,987 167,340

2024 Vacant Housing 2,342 19,695 34,591

2024 Total Housing 26,207 166,493 280,937

2019-2024: Households: Growth Rate 5.55 % 9.55 % 7.50 %

Source: esri

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Demographics | 25

2019 POPULATION BY AGE 1 MILE 3 MILE 5 MILE

2019 Population Age 30-34 4,100 28,840 47,259

2019 Population Age 35-39 4,207 26,246 43,806

2019 Population Age 40-44 3,743 22,499 38,006

2019 Population Age 45-49 3,782 21,999 37,952

2019 Population Age 50-54 3,602 20,793 36,065

2019 Population Age 55-59 3,645 20,469 36,016

2019 Population Age 60-64 3,222 17,631 31,499

2019 Population Age 65-69 3,051 15,566 27,827

2019 Population Age 70-74 2,841 13,119 23,446

2019 Population Age 75-79 2,209 9,994 17,786

2019 Population Age 80-84 1,626 7,131 12,593

2019 Population Age 85+ 1,779 7,481 13,420

2019 Population Age 18+ 46,361 265,640 455,632

2019 Median Age 41 39 40

2019 INCOME BY AGE 1 MILE 3 MILE 5 MILE

Median Household Income 25-34 $30,950 $53,211 $50,927

Average Household Income 25-34 $42,723 $75,522 $72,322

Median Household Income 35-44 $28,154 $51,315 $51,862

Average Household Income 35-44 $39,781 $82,181 $84,693

Median Household Income 45-54 $34,768 $53,387 $55,102

Average Household Income 45-54 $44,271 $84,432 $90,650

Median Household Income 55-64 $20,911 $37,576 $40,429

Average Household Income 55-64 $32,734 $64,577 $71,964

Median Household Income 65-74 $16,070 $26,984 $29,745

Average Household Income 65-74 $25,147 $50,164 $55,855

Average Household Income 75+ $18,751 $33,713 $36,816

2024 POPULATION BY AGE 1 MILE 3 MILE 5 MILE

2024 Population Age 30-34 4,018 29,385 47,478

2024 Population Age 35-39 4,151 27,371 45,299

2024 Population Age 40-44 4,214 25,692 43,043

2024 Population Age 45-49 3,818 22,854 38,620

2024 Population Age 50-54 3,773 22,078 38,087

2024 Population Age 55-59 3,657 21,098 36,516

2024 Population Age 60-64 3,575 20,566 36,194

2024 Population Age 65-69 3,517 18,140 32,069

2024 Population Age 70-74 3,271 15,604 27,476

2024 Population Age 75-79 2,642 12,017 21,441

2024 Population Age 80-84 1,881 8,324 14,697

2024 Population Age 85+ 1,928 8,250 14,586

2024 Population Age 18+ 49,207 289,920 489,951

2024 Median Age 42 40 40

2024 INCOME BY AGE 1 MILE 3 MILE 5 MILE

Median Household Income 25-34 $36,526 $64,549 $60,590

Average Household Income 25-34 $50,438 $91,127 $86,892

Median Household Income 35-44 $33,036 $60,645 $61,027

Average Household Income 35-44 $46,637 $95,193 $97,482

Median Household Income 45-54 $38,400 $63,335 $65,192

Average Household Income 45-54 $52,244 $100,071 $106,068

Median Household Income 55-64 $26,615 $47,806 $50,575

Average Household Income 55-64 $39,599 $77,371 $84,508

Median Household Income 65-74 $18,069 $32,824 $35,737

Average Household Income 65-74 $30,119 $59,255 $64,856

Average Household Income 75+ $22,462 $41,320 $44,714

Page 26: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Demographic Charts | 26

1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Household Income

1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Population by Race

Page 27: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Demographic Charts | 27

2019 Household Occupancy - 1 Mile Radius

Average Income Median Income

2019 Household Income Average and Median

Page 28: 1029 NW 5TH STREET , MIAMI FL 33128...Multifamily Real Estate Group is pleased to exclusively bring to market 1029 NW 5th Street. Miami FL. The property consists of 6 units, of which

Exclusively Marketed by:

George Jimenez George GilPresident / Broker Investment Adviser | Associate(305) 336-6381 (786) 346-2406License # BK3274154 License # [email protected] [email protected]

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