| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 37th | Poor |
| Amenities | 52nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 466 Lock Rd, Deerfield Beach, FL, 33442, US |
| Region / Metro | Deerfield Beach |
| Year of Construction | 1986 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
466 Lock Rd Deerfield Beach Multifamily Investment
Neighborhood occupancy has trended upward and renter demand is supported by a solid renter-occupied share, according to WDSuite’s CRE market data. Positioning in Broward County provides durable leasing fundamentals with room for operational upside.
Located in Deerfield Beach’s inner-suburb setting of the Fort Lauderdale–Pompano Beach–Sunrise metro (345 neighborhoods), the area registers mid-pack on overall neighborhood ranking (C), signaling stable but competitive fundamentals for workforce-oriented multifamily. The property’s 1986 vintage is slightly newer than the neighborhood’s average construction year of 1982, offering relative competitiveness versus older stock while leaving room for targeted modernization to improve finishes and building systems.
Amenity access is mixed: parks and pharmacies score in the top quintile nationally, while café and grocery density is limited within the immediate neighborhood. For investors, that creates a resident profile more reliant on regional retail corridors and auto access, with onsite conveniences and service packages potentially enhancing retention.
Neighborhood renter concentration is above average for the metro (ranked 63 of 345), indicating a deep tenant base and consistent leasing activity for garden-style product. Measured at the neighborhood level, occupancy has improved over the past five years, supporting expectations for steadier cash flow management relative to weaker sub-areas.
Within a 3-mile radius, demographics point to population growth and an increase in households over the last five years, with projections calling for additional gains through the next cycle. This expanding household base supports a larger tenant pool and helps underpin occupancy stability, while the modest decline in average household size suggests continued demand for smaller unit types consistent with the asset’s average unit size.
Home values in the neighborhood sit below many coastal South Florida submarkets, which can introduce some competition from ownership alternatives. From an investor perspective, this context emphasizes the importance of amenity programming, customer service, and unit updates to sustain pricing power and lease retention.
Safety indicators are mixed. The neighborhood sits below national averages on violent and property offense measures, and it ranks in the lower half within the Fort Lauderdale–Pompano Beach–Sunrise metro (199 out of 345). However, recent data show a year-over-year decline in estimated property offenses, indicating improvement versus last year. Investors should underwrite with conservative assumptions while noting the downtrend.
Proximity to regional employers supports a diverse renter base and commute convenience, led by corporate headquarters and healthcare services within a 15-mile radius. These anchors can bolster leasing stability for workforce and professional households.
- Office Depot — corporate headquarters (5.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (9.8 miles)
- AutoNation — automotive retail headquarters (14.1 miles) — HQ
- Siegel Financial Group - Northwestern Mutual — financial services offices (27.1 miles)
- Sysco Southeast Florida — foodservice distribution (30.7 miles)
466 Lock Rd is a 60-unit, mid-1980s garden community positioned in an inner-suburban pocket of Broward County where renter concentration is strong and neighborhood occupancy has trended upward. Based on CRE market data from WDSuite, the surrounding neighborhood performs around the metro median overall, with parks and daily-needs access outperforming nationally while café/grocery density is thinner. The 1986 vintage is slightly newer than nearby averages, suggesting a path to competitive positioning through selective value-add: interior updates, curb appeal, and systems tune-ups typical for 1980s buildings.
Within a 3-mile radius, recent population and household growth — with additional gains projected — point to a larger tenant base over the next several years, supporting lease-up and ongoing occupancy stability. At the same time, below-peak home values in the immediate area mean some households may weigh ownership options, underscoring the need for thoughtful amenity programming and pricing discipline.
- Neighborhood occupancy improving and renter base deep, supporting steadier cash flow
- 1986 vintage offers value-add upside via targeted renovations and system refreshes
- 3-mile radius shows growing population and households, expanding the tenant pool
- Parks and daily-needs access strong nationally; café/grocery density thinner — onsite conveniences can aid retention
- Risks: safety metrics below national averages and relatively accessible ownership options may temper pricing power