| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 29th | Poor |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3890 Riverside Dr, Coral Springs, FL, 33065, US |
| Region / Metro | Coral Springs |
| Year of Construction | 1974 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3890 Riverside Dr, Coral Springs FL — Multifamily Investment Thesis
Neighborhood fundamentals point to a renter-driven submarket with stable occupancy, according to WDSuite’s CRE market data, supporting small-unit assets that cater to value-seeking tenants. Directionally, ownership costs in the area bolster reliance on rentals, reinforcing demand durability through cycles.
Located in Coral Springs’ inner-suburban fabric of the Fort Lauderdale–Pompano Beach–Sunrise metro, the property sits in a neighborhood rated C+ that performs above the metro median on overall housing metrics (rank 78 of 345; 73rd percentile nationally). Neighborhood occupancy is strong at the area level, placed competitive among metro neighborhoods (rank 115 of 345) and above national averages (70th percentile), which supports income stability for well-managed assets.
Local amenities are moderately supportive: grocery access is a relative strength (rank 78 of 345; 90th percentile nationally), while restaurants and cafés register as above average by national comparison (both mid‑80s percentiles). Amenity depth overall trends above the metro median (rank 144 of 345). Limited nearby parks and pharmacies are notable gaps (both bottom of metro and national distributions), so properties that deliver on-site conveniences can differentiate.
Renter concentration at the neighborhood level is elevated (56.9% of housing units are renter‑occupied; top quartile among 345 metro neighborhoods and 92nd percentile nationally), signaling a deep tenant base for multifamily. Median contract rents in the neighborhood benchmark in the upper national tier (83rd percentile) with five‑year growth outpacing many peers, suggesting resilient renter demand while also calling for disciplined affordability management.
Within a 3‑mile radius, households have expanded over the past five years and are projected to continue increasing through the next cycle, even as average household size trends lower. This combination typically broadens the renter pool and supports occupancy stability for smaller, efficiently designed units like the community’s average 551 sq. ft. layouts.
Ownership remains relatively expensive in context: neighborhood home values sit in the upper national percentiles and the value‑to‑income ratio ranks near the top decile in the metro (rank 26 of 345; 95th percentile nationally). For investors, a high‑cost ownership landscape tends to sustain reliance on multifamily housing and can aid lease retention, while elevated rent‑to‑income ratios at the neighborhood level warrant proactive lease management to mitigate turnover risk.
Safety signals are mixed and should be framed comparatively. At the neighborhood scale, overall crime ranks nearer the less‑favorable side within the Fort Lauderdale–Pompano Beach–Sunrise metro (rank 29 of 345 indicates higher crime relative to many local peers). However, in national context the neighborhood’s safety profile trends better than average (73rd percentile), and violent‑offense indicators point to comparatively strong conditions (98th percentile nationally) with recent year‑over‑year improvement (91st percentile for decline).
Property‑offense measures also sit in stronger national percentiles (93rd), though one‑year volatility has been elevated by metro standards. Investors should underwrite with local management practices in mind—access control, lighting, and resident engagement—while recognizing that broader national comparisons remain favorable.
The immediate area draws on a diverse employment base blending healthcare and corporate headquarters, supporting renter demand through commute convenience and varied wage tiers. Notable nearby employers include Tenet Healthcare along with regional headquarters such as Office Depot and AutoNation.
- Tenet Healthcare Corporation, Florida Region — healthcare services (3.3 miles)
- Office Depot — office supplies HQ & corporate (11.1 miles) — HQ
- AutoNation — automotive retail corporate (12.3 miles) — HQ
- Johnson & Johnson — medical & consumer products offices (26.1 miles)
- Ryder System — logistics & transportation (29.8 miles) — HQ
3890 Riverside Dr is a 28‑unit, 1974‑vintage asset positioned in a renter‑oriented Coral Springs neighborhood where occupancy trends are competitive within the metro and above national norms. The vintage suggests attention to building systems and common‑area refreshes can unlock value‑add potential and help the property compete against newer stock, particularly given strong neighborhood renter‑occupied share and sustained demand for smaller, efficient floor plans.
A high‑cost ownership landscape (upper national percentiles for home values and value‑to‑income) supports durable rental demand, while 3‑mile household growth and projected increases indicate a larger tenant base over time. According to CRE market data from WDSuite, neighborhood rents track in the upper national tier and occupancy remains stable, underscoring potential for steady income if affordability pressures (reflected in elevated rent‑to‑income ratios) are managed with disciplined renewals and amenities that enhance retention.
- Competitive neighborhood occupancy and elevated renter concentration support income stability
- 1974 vintage offers value‑add pathways via system upgrades and targeted unit renovations
- High‑cost ownership market reinforces reliance on rentals and aids lease retention
- 3‑mile household growth expands the tenant base for smaller, efficient units
- Risk: elevated rent‑to‑income ratios require careful pricing, renewal strategy, and expense control