| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 54th | Fair |
| Amenities | 53rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2920 Forest Hills Blvd, Coral Springs, FL, 33065, US |
| Region / Metro | Coral Springs |
| Year of Construction | 1975 |
| Units | 103 |
| Transaction Date | 2022-03-10 |
| Transaction Price | $22,500,000 |
| Buyer | TCG CORINTHIAN FL PORTFOLIO PROP II LLC |
| Seller | PALMS AT FOREST HILLS LLC |
2920 Forest Hills Blvd Coral Springs Multifamily Value-Add
Neighborhood occupancy in the low-90s and a renter concentration around half of units point to durable tenant demand, according to WDSuite’s CRE market data. With a 1975 vintage, the asset may offer renovation and capital-planning upside relative to newer local stock.
Situated in Coral Springs within the Fort Lauderdale–Pompano Beach–Sunrise metro, the neighborhood scores a B+ and ranks 98 out of 345 metro neighborhoods, making it competitive among Fort Lauderdale–Pompano Beach–Sunrise neighborhoods. Amenities are a relative strength, with grocery, park, and pharmacy access trending in the mid-60s to mid-80s national percentiles, supporting everyday convenience that benefits leasing and retention.
Renters represent roughly half of housing units in the neighborhood (renter-occupied share), indicating a deep tenant base for multifamily owners. Neighborhood occupancy has hovered in the low-90s in recent years, which is around the metro median, suggesting stable leasing with typical turnover risk for South Florida.
Within a 3-mile radius, demographics show modest population growth alongside a more notable increase in households, expanding the local renter pool. Forward-looking estimates point to continued household gains and slightly smaller average household sizes, trends that can support absorption of a range of unit types and sustain occupancy.
Home values sit above national norms for similar neighborhoods (mid-60s national percentile) and the local value-to-income ratio trends in a higher national bracket, signaling a high-cost ownership market relative to many U.S. areas. For investors, this context generally supports reliance on multifamily rentals, with pricing power balanced by rent-to-income considerations that call for thoughtful lease management.
The property’s 1975 construction predates the neighborhood’s average vintage (early 1980s). That age profile often implies near- to medium-term capital needs but also sets up value-add potential through unit renovations, building systems modernization, and common-area updates to stay competitive against newer supply.
Safety indicators are mixed but comparatively favorable on several measures. Nationally, the neighborhood trends above average for overall safety, with property offenses benchmarking near the top percentile (safer than most U.S. neighborhoods) and violent offense levels positioned in a stronger national bracket as well. These readings suggest conditions that can support tenant retention and day-to-day livability.
Year-over-year estimates show improvement in property offenses but some volatility in violent offense readings. Investors should monitor trend direction over multiple periods and compare against broader metro movement rather than single-year swings.
The area draws from a diversified employment base spanning healthcare, auto retail, office supplies, pharmaceuticals, and logistics—supporting workforce housing demand and commute-friendly leasing fundamentals for this neighborhood.
- Tenet Healthcare Corporation, Florida Region — healthcare services (3.3 miles)
- AutoNation — auto retail & corporate functions (11.9 miles) — HQ
- Office Depot — office supplies & corporate functions (12.2 miles) — HQ
- Johnson & Johnson — pharmaceuticals & medical products (25.3 miles)
- Ryder System — logistics & transportation (28.8 miles) — HQ
This 103-unit asset offers scale in a Coral Springs neighborhood with stable renter demand and everyday convenience drivers. Based on CRE market data from WDSuite, neighborhood occupancy has held in the low-90s with a renter-occupied share around half of units, which supports depth of the tenant base and generally steady lease-up. The 1975 vintage is older than the local average, creating a clear path for value-add through in-unit upgrades and selective systems modernization to improve competitive positioning against 1980s-and-newer stock.
Within a 3-mile radius, household counts have been rising and are projected to continue growing, effectively expanding the renter pool and supporting occupancy stability. At the same time, the high-cost ownership backdrop relative to national benchmarks reinforces reliance on rental housing, though elevated rent-to-income dynamics suggest prudent pricing and lease management to sustain retention.
- Scale plus neighborhood renter depth supports steady tenant demand
- 1975 vintage positions asset for value-add renovations and system upgrades
- 3-mile household growth and amenity access bolster leasing and retention
- High-cost ownership context can underpin pricing power for well-positioned units
- Risk: rent-to-income pressure and crime trend volatility warrant active lease and asset management