| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 24th | Poor |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5701 Summerlake Dr, Davie, FL, 33314, US |
| Region / Metro | Davie |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | $120,000 |
| Buyer | SUMMERLAKE APARTMENTS LTD |
| Seller | MARTINEZ EDUARDO |
5701 Summerlake Dr Davie Multifamily Investment
Neighborhood occupancy has held in the mid-90s with consistent renter demand supported by a high-cost ownership market, according to WDSuite’s CRE market data.
Positioned in Davie’s inner-suburb fabric of the Fort Lauderdale-Pompano Beach-Sunrise metro, the property benefits from neighborhood fundamentals that are competitive among 345 metro neighborhoods on occupancy and amenity access. Neighborhood occupancy ranks within the stronger half of the metro, supporting leasing stability for multifamily assets, while restaurants and parks density are each in the top quartile nationally, offering day-to-day convenience for residents. Local pharmacy and childcare options are comparatively limited within the immediate neighborhood, which may shift some errand trips to nearby corridors.
The property’s 2001 construction is newer than the neighborhood’s average vintage (early 1980s), which can provide a competitive edge versus older stock. Investors should still plan for selective modernization and system updates typical for assets of this age to maintain positioning and support rent trade-outs.
Tenure patterns signal depth in the renter base: roughly two-fifths of housing units in the neighborhood are renter-occupied, a share that is high relative to many U.S. neighborhoods. This structure supports ongoing demand for professionally managed apartments and helps underpin occupancy stability through cycles.
Within a 3-mile radius, demographics point to renter pool expansion. Recent population and household growth have been positive, and projections indicate continued increases in both population and households over the next five years, suggesting a larger tenant base. Forecasts also show gradually smaller household sizes, which can favor smaller floor plans; the property’s modest average unit size aligns with this demand segment. Rising contract rents across the area reinforce pricing power, while elevated home values and ownership costs sustain reliance on rental housing rather than competing with it.
Safety indicators are mixed and should be monitored. Compared with neighborhoods nationwide, the area sits near the middle of the pack overall, and relative to the Fort Lauderdale-Pompano Beach-Sunrise metro it trends close to the metro median. Property-related offense measures compare more favorably than violent offense rates, but recent year-over-year shifts in violent incidents indicate some volatility. Investors should incorporate these trends into underwriting, security planning, and resident retention strategies, and revisit them periodically as conditions evolve.
Proximity to major corporate employers supports a steady commuter renter base and can aid retention. Nearby anchors include regional healthcare and large corporate offices across automotive retail, life sciences, logistics, and industrials.
- AutoNation — automotive retail HQ (5.96 miles) — HQ
- Johnson & Johnson — life sciences offices (12.37 miles)
- Tenet Healthcare Corporation, Florida Region — healthcare administration (16.46 miles)
- Ryder System — logistics & fleet management (17.20 miles) — HQ
- Mosaic — industrials & materials offices (18.87 miles)
This 24-unit, 2001-vintage asset offers a balanced combination of demand drivers: competitive neighborhood occupancy, strong amenity access, and exposure to a growing 3-mile renter pool. Elevated home values in the neighborhood context help sustain rental demand, while nearby corporate employment nodes provide a diverse commuter base. According to CRE market data from WDSuite, neighborhood occupancy remains competitive within the metro, reinforcing the case for stable leasing.
Newer construction relative to the area’s early-1980s average supports positioning versus older stock; however, prudent capital planning for interior refreshes and building systems will help preserve rents. Affordability pressure should be considered in lease management given rent-to-income dynamics, and investors may want to monitor local safety trends and the limited immediate access to pharmacies/childcare when assessing marketing and resident services.
- Competitive neighborhood occupancy supports stable cash flow potential
- 2001 vintage offers relative advantage vs. older local stock with value-add potential
- 3-mile population and household growth expand the tenant base and support leasing
- Elevated ownership costs in the area reinforce multifamily demand and retention
- Risks: affordability pressure, mixed safety trends, and limited nearby pharmacies/childcare