| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Fair |
| Demographics | 83rd | Best |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2700 NE 51st St, Fort Lauderdale, FL, 33308, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 1979 |
| Units | 42 |
| Transaction Date | 2012-08-03 |
| Transaction Price | $1,800,000 |
| Buyer | COM CAPITAL LLC |
| Seller | PEKIC MARKO |
2700 NE 51st St Fort Lauderdale Multifamily Investment
Amenity-rich coastal neighborhood with high home values supports durable renter demand, according to WDSuite s CRE market data. Neighborhood statistics reflect area dynamics, not this property s operations.
This Broward County location sits in a suburban pocket of Fort Lauderdale that ranks A overall and is competitive among Fort Lauderdale Pompano Beach Sunrise neighborhoods (25th of 345). Dining and daily-needs access are a core strength restaurants and cafes score in the top quartile nationally, with grocery and pharmacy density also above national norms. These convenience factors typically aid leasing velocity and retention for well-managed multifamily assets.
Median contract rents in the neighborhood trend above national levels while the rent-to-income ratio remains moderate, indicating some pricing power without extreme affordability pressure. Elevated home values relative to incomes characterize a high-cost ownership market, which can sustain reliance on rental housing and support occupancy stability for competitively positioned properties.
Within a 3-mile radius, demographics point to a steadily expanding renter pool: population and households have grown in recent years, with projections showing further household growth alongside smaller average household size. For investors, that combination typically expands the tenant base and supports demand for one- and two-bedroom units over time. Renter-occupied housing accounts for roughly one-third of units within this 3-mile area, indicating meaningful depth for multifamily demand.
Vintage dynamics matter: the neighborhood s average construction year is 1970, and the subject property s 1979 vintage is somewhat newer than local stock. That positioning can be advantageous against older competitive assets, though investors should plan for ongoing capital projects typical of late-1970s buildings to maintain curb appeal and operational reliability.
Safety indicators for this neighborhood trail national benchmarks, with crime measures in lower national percentiles and a metro rank in the lower tier (crime rank 324 among 345 metro neighborhoods). That context suggests investors should underwrite additional security measures and asset-level controls, and prioritize tenant experience management to support retention.
Recent data also show year-over-year increases in both property and violent offense estimates locally. While block-level conditions can vary, prudent assumptions for operating expenses and loss factors are appropriate. Comparisons should be made to submarkets with similar urban dynamics rather than top-quartile suburban areas.
Nearby employers provide a diversified white-collar and healthcare employment base that can support leasing and retention, particularly for workforce and professional renters. Key nodes include AutoNation, Tenet Healthcare, Office Depot, Johnson & Johnson, and Mosaic.
- AutoNation auto retail and services (5.3 miles) HQ
- Tenet Healthcare Corporation, Florida Region healthcare services (13.1 miles)
- Office Depot office supplies (14.7 miles) HQ
- Johnson & Johnson pharmaceuticals (22.9 miles)
- Mosaic chemicals and materials (26.1 miles)
This 42-unit, 1979-vintage asset benefits from an amenity-rich Fort Lauderdale location where dining, grocery, and pharmacy access rank well above national norms, supporting leasing momentum. Elevated home values versus incomes indicate a high-cost ownership market that reinforces reliance on rentals, while 3-mile household growth and shrinking household size point to an expanding renter base. Based on commercial real estate analysis from WDSuite, neighborhood rents sit above national levels with a moderate rent-to-income profile, suggesting room for disciplined revenue management.
The vintage is somewhat newer than the neighborhood average, offering competitive positioning versus older stock and potential value-add via system upgrades and interior modernization. Key risks include neighborhood safety metrics that trail national benchmarks and softer neighborhood occupancy signals; both warrant conservative underwriting, active asset management, and thoughtful capital planning.
- Amenity-dense location supports leasing velocity and resident retention.
- High-cost ownership market sustains renter demand and pricing power potential.
- 3-mile household growth and smaller household size expand the tenant base.
- 1979 vintage offers value-add and competitive positioning vs. older local stock.
- Risks: below-average safety metrics and softer neighborhood occupancy require conservative underwriting.