| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 30th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2400 NW 22nd St, Fort Lauderdale, FL, 33311, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 1986 |
| Units | 54 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2400 NW 22nd St, Fort Lauderdale Multifamily Investment
Positioned in an inner-suburb pocket of Fort Lauderdale, this 1986-vintage, 54-unit asset benefits from a renter-driven submarket and a high-cost ownership backdrop, according to CRE market data from WDSuite. Neighborhood metrics cited here reflect the surrounding area, indicating stable renter demand with balanced but competitive leasing conditions.
Livability fundamentals lean positive for workforce-oriented rentals. The neighborhood scores a B- and ranks 192 out of 345 within the Fort Lauderdale–Pompano Beach–Sunrise metro, placing it around the metro middle. Amenity access is a relative strength: cafes and childcare density sit in the top decile to top quartile nationally, while grocery and pharmacy access trend above national medians. The absence of park acreage nearby is a known gap for outdoor space.
Rents in the neighborhood have risen meaningfully over the last five years and sit above many U.S. areas, supporting revenue potential but requiring attention to affordability. Neighborhood occupancy is measured at the neighborhood level and has been broadly stable over the past five years; it trails the metro median today, which suggests leasing efforts and concessions strategy may matter for retention.
Tenure dynamics support multifamily demand: the share of housing units that are renter-occupied is competitive among Fort Lauderdale–Pompano Beach–Sunrise neighborhoods and higher than much of the nation, indicating a deeper tenant base. Within a 3-mile radius, demographics show modest population growth and a notable increase in households, pointing to a larger renter pool and steady absorption potential over the medium term.
Home values are elevated for the area on a national basis, and value-to-income ratios trend high. For investors, a high-cost ownership market typically reinforces reliance on rentals, aiding lease retention and pricing power when paired with disciplined renewals and unit positioning.
Safety conditions are a consideration for underwriting. The neighborhood ranks 312 out of 345 metro neighborhoods on crime, placing it well below the metro median and in the lower deciles nationally. Violent and property offense rates benchmark in low national percentiles, indicating a comparatively higher incidence than many U.S. neighborhoods.
Recent year-over-year estimates point to increases in both violent and property offenses. Investors commonly respond with targeted security measures and tenant-screening best practices, and should calibrate insurance, operating protocols, and marketing accordingly relative to nearby, better-ranked neighborhoods.
Nearby employment anchors span automotive retail headquarters, healthcare administration, office supplies, healthcare products, and logistics. These employers support commuter convenience and help stabilize renter demand at this address.
- AutoNation — automotive retail (3.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (12.1 miles)
- Office Depot — office supplies (17.6 miles) — HQ
- Johnson & Johnson — healthcare & consumer products offices (18.8 miles)
- Ryder System — logistics (23.6 miles) — HQ
This 54-unit property, built in 1986 with average unit sizes near 790 sq. ft., is newer than the neighborhood’s typical vintage. That positions it competitively versus older stock while leaving room for selective value-add and systems modernization to drive rent premiums. According to CRE market data from WDSuite, the surrounding neighborhood shows a renter-leaning profile and a high-cost ownership environment, which together support a durable tenant base and potential pricing power when renewals are managed carefully.
Within a 3-mile radius, population has grown modestly and households have increased, signaling renter pool expansion that can support occupancy stability over time. Neighborhood-level occupancy has been steady but sits below the metro median, so execution on leasing, unit turns, and amenity positioning remains important. Affordability bears monitoring: rents and rent-to-income metrics indicate some pressure, making value-oriented finishes and efficient utilities meaningful for retention. Safety ranks below metro averages, which should be reflected in security planning, insurance, and NOI assumptions.
- 1986 vintage offers relative competitiveness versus older nearby stock with targeted value-add potential
- Renter-occupied concentration and high-cost ownership market support a deeper tenant base and lease retention
- 3-mile area shows household growth, indicating sustained multifamily demand and absorption runway
- Neighborhood occupancy has been stable but below metro median, elevating the importance of leasing execution
- Risks: below-average safety rankings and affordability pressure warrant security, insurance, and renewal-rate discipline