| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 58th | Good |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1400 NE 53rd Ct, Fort Lauderdale, FL, 33334, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 1974 |
| Units | 33 |
| Transaction Date | 2018-04-30 |
| Transaction Price | $5,575,000 |
| Buyer | MODERN APARTMENTS LLC |
| Seller | OAK TREE AVANATH CORAL RIDGE ISLES LLC |
1400 NE 53rd Ct Fort Lauderdale 33-Unit Multifamily Investment
Renter demand is reinforced by a high neighborhood renter-occupied share and a high-cost ownership market, according to WDSuite’s CRE market data. This combination points to a deeper tenant base and steadier leasing, with pricing power tempered by local affordability pressure.
Located in an Inner Suburb of Fort Lauderdale, the neighborhood posts a B+ rating (ranked 105 out of 345 metro neighborhoods), signaling competitive fundamentals without premium pricing pressure. Neighborhood occupancy is below the national median, but the renter-occupied share is high (51.5%), indicating a broad tenant pool that supports leasing stability for multifamily product, per WDSuite’s CRE market data.
Daily-needs access is a relative strength: grocery and pharmacy density are both high (each in the low-90s to high-90s national percentiles), and restaurants cluster nearby, while parks and cafés are comparatively sparse. For families, average school ratings are strong (top quartile nationally), which can support retention for larger units.
Within a 3-mile radius, demographics show modest population growth and a rising household count, with projections indicating continued renter pool expansion as household sizes edge smaller. This shift typically supports sustained demand for professionally managed apartments and helps stabilize occupancy through turnover cycles.
Ownership costs are elevated for the neighborhood (home values in the low-80s national percentile and value-to-income near the top of national ranges). That dynamic tends to keep more households in the rental market, benefiting tenant depth and lease-up velocity, though a higher rent-to-income ratio suggests thoughtful lease management and renewal strategies remain important.
Neighborhood safety compares below national medians, with crime measures sitting in lower national percentiles, according to WDSuite’s data. This positioning suggests investors should account for security-minded property operations and resident communication as part of underwriting and asset management.
Recent year-over-year estimates indicate increases in both property and violent offenses in the broader area. While these are neighborhood-level indicators (not property-specific), monitoring trend direction and coordinating with local resources can help mitigate risk and support resident retention.
The property sits within commuting reach of major employers that draw diverse talent, supporting workforce housing demand and lease retention, including AutoNation, Tenet Healthcare, Office Depot, Johnson & Johnson, and Mosaic.
- AutoNation — corporate offices (5.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (12.0 miles)
- Office Depot — corporate offices (14.5 miles) — HQ
- Johnson & Johnson — healthcare & consumer products offices (22.5 miles)
- Mosaic — industrial & corporate offices (26.3 miles)
This 33-unit asset benefits from a renter-heavy neighborhood and a high-cost ownership landscape, which together deepen the tenant base and support occupancy durability through cycles. Household growth within a 3-mile radius and shrinking household sizes point to incremental renter demand over the medium term, while strong school ratings and convenient daily-needs retail help with resident retention. According to CRE market data from WDSuite, neighborhood occupancy lags national medians, which argues for active leasing strategies rather than reliance on market lift alone.
Elevated home values bolster pricing power potential, but a higher local rent-to-income ratio signals affordability pressure that should be reflected in renewal tactics and concession planning. With neighborhood safety metrics below national medians, thoughtful security, lighting, and resident engagement can help protect performance without overspending on non-revenue items.
- Renter-heavy neighborhood and high-cost ownership market support deeper tenant demand
- 3-mile household growth and smaller household sizes point to steady renter pool expansion
- Strong nearby daily-needs access and school ratings aid retention and reduce turnover friction
- Active leasing and renewal management advised given below-median neighborhood occupancy
- Risk: affordability pressure (higher rent-to-income) and below-median safety require calibrated OPEX and resident services