| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 47th | Fair |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2851 Griffin Rd, Fort Lauderdale, FL, 33312, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 1979 |
| Units | 35 |
| Transaction Date | --- |
| Transaction Price | $850,000 |
| Buyer | RIMON ABRAHAM |
| Seller | N & D HOLDING INC |
2851 Griffin Rd Fort Lauderdale Multifamily Investment
Inner-suburb location with steady renter demand supported by a high-cost ownership market, according to WDSuite’s CRE market data. Neighborhood occupancy metrics reflect broader Fort Lauderdale dynamics rather than the property itself.
Located in an inner-suburb pocket of Fort Lauderdale, the neighborhood rates B- and sits above the metro median in several livability categories while remaining competitive on pricing for workforce renters. Amenity access skews toward parks and cafes, placing the area in the top quartile nationally for both, but grocery and pharmacy options are comparatively limited, which can influence convenience expectations and retention planning.
Renter concentration is substantial, with an estimated 45–46% of housing units renter-occupied at the neighborhood level, indicating a meaningful tenant base for multifamily operators. At the same time, neighborhood occupancy is below the metro median (ranked 263 of 345 metro neighborhoods), so underwriting should emphasize leasing execution and product differentiation rather than assuming automatic stabilization.
Home values trend elevated versus national norms (top quartile nationally), and the value-to-income ratio is also high, reinforcing reliance on rental housing and supporting pricing power for well-managed assets. Median contract rents benchmark above national averages, yet rent-to-income levels suggest measured affordability pressure, which calls for disciplined renewals and amenity-driven retention strategies.
Within a 3-mile radius, population and household counts have increased modestly with forecasts pointing to further growth and smaller average household sizes, expanding the renter pool for studios and smaller floorplans. These demographic trends, based on CRE market data from WDSuite, support demand stability for professionally managed units even as operators should monitor neighborhood-level shifts in occupancy and amenity mix.
Safety conditions are mixed. Relative to neighborhoods nationwide, the area sits below the national midpoint for safety. Within the Fort Lauderdale–Pompano Beach–Sunrise metro, the neighborhood ranks 282 out of 345, indicating crime levels that are above the metro average. Recent year-over-year readings show upticks in both property and violent offenses at the neighborhood level.
Investors should focus on standard risk mitigation: lighting and access controls, coordination with local community programs, and tenant engagement. Comparisons here are neighborhood-level indicators and do not describe conditions specific to the property.
The nearby employment base combines corporate headquarters and major regional offices that support renter demand through commute convenience and diversified white-collar and healthcare employment. The list below reflects prominent employers within typical commuting distance for residents.
- AutoNation — auto retail HQ (4.5 miles) — HQ
- Johnson & Johnson — healthcare products (13.2 miles)
- Tenet Healthcare Corporation, Florida Region — healthcare services (17.7 miles)
- Mosaic — fertilizer & chemicals (17.7 miles)
- Ryder System — logistics (18.5 miles) — HQ
This 35-unit 1979 asset offers an approachable value-add profile in a Fort Lauderdale inner-suburb with a sizable renter base and elevated ownership costs. Neighborhood occupancy trends sit below the metro median, but elevated home values and a high value-to-income environment reinforce sustained reliance on rental housing. According to CRE market data from WDSuite, median neighborhood rents benchmark above national norms, supporting rent positioning for well-managed, renovated units while keeping an eye on affordability pressure in renewals.
Within a 3-mile radius, population and household growth, alongside smaller projected household sizes, point to renter pool expansion for efficient floorplans. Amenity access is strong for parks and cafes, though grocery and pharmacy options are thinner, suggesting an emphasis on on-site convenience and resident services to drive retention. The 1979 vintage implies targeted capital planning—interiors, exteriors, and building systems upgrades—to capture competitive positioning versus newer product.
- Elevated home values and high value-to-income ratios support durable rental demand
- Growing 3-mile population and households indicate a larger tenant base over the forecast period
- 1979 vintage allows value-add through modernization of interiors and building systems
- Strong parks and cafe access enhance livability; consider on-site conveniences to offset limited groceries/pharmacies
- Risks: neighborhood occupancy below metro median and affordability pressures require disciplined leasing and renewals