| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Poor |
| Demographics | 25th | Poor |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2910 NW 19th St, Fort Lauderdale, FL, 33311, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 1973 |
| Units | 96 |
| Transaction Date | 2007-05-30 |
| Transaction Price | $330,700 |
| Buyer | SP BROWARD GARDENS LP |
| Seller | TRINITY FLORIDA LLC |
2910 NW 19th St Fort Lauderdale 96-Unit Multifamily
Renter demand is supported by a sizable 3-mile renter-occupied base and a high-cost ownership landscape that can sustain reliance on rentals, according to WDSuite’s CRE market data. The area’s fundamentals favor steady leasing with room for value-add gains rather than outsized rent-led growth.
Located in an inner-suburb pocket of Fort Lauderdale, the property sits in a neighborhood that rates D and ranks 335 out of 345 metro neighborhoods, signaling below-median performance locally. Restaurants are comparatively accessible (nationally around the top third), while daily needs like groceries, parks, pharmacies, childcare, and cafes are limited within the immediate neighborhood, so residents typically rely on nearby corridors for services.
Vintage is a consideration: built in 1973 versus a neighborhood average construction year around 1980. That older profile can create a clear value-add or capital planning path—interiors, building systems, and common areas may benefit from modernization to compete against newer product and support retention.
Within a 3-mile radius, households have been increasing, with modest population growth and a measurable rise in household counts, pointing to a larger tenant base even as average household size trends down. Median contract rents in the 3-mile area have grown over the last five years, and projections call for further rent and income growth through 2028; taken together, these trends support demand for rental units and leasing stability rather than rapid lease-up dynamics.
Tenure patterns matter for multifamily demand: within 3 miles, approximately half of housing units are renter-occupied, indicating depth in the tenant pool. Neighborhood occupancy is below the metro median (ranked 250 of 345), suggesting leasing strategies should emphasize value, renewals, and operational execution to maintain occupancy.
Home values in the neighborhood sit in a higher national percentile relative to incomes (value-to-income around the top quintile nationally). In investor terms, a high-cost ownership market can reinforce reliance on multifamily housing and support pricing power, but rent-to-income levels imply affordability pressure for some renters, so prudent lease management and renewal tactics are important to sustain retention.
Safety conditions should be weighed in underwriting. The neighborhood’s crime profile ranks 280 out of 345 metro neighborhoods, and national percentiles indicate lower relative safety (violent and property offenses track in lower national percentiles). That places the area below metro averages for safety and suggests investors should budget for security-conscious operations and resident engagement.
Recent year-over-year trends point to increases in both violent and property offenses at the neighborhood level. While citywide dynamics and policing strategies can influence outcomes over time, prudent planning should include lighting, access controls, and partnerships with local stakeholders to help support resident comfort and leasing stability.
Proximity to major employers supports a broad workforce renter base and reasonable commute times, led by AutoNation, Tenet Healthcare, Office Depot, Johnson & Johnson, and Ryder System—all within commuting distance and relevant to retention and leasing consistency.
- AutoNation — automotive retail HQ (3.2 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (12.1 miles)
- Office Depot — office supplies HQ (17.9 miles) — HQ
- Johnson & Johnson — pharmaceuticals (18.4 miles)
- Ryder System — logistics HQ (23.1 miles) — HQ
This 96-unit asset offers a straightforward value-add thesis in an inner-suburban Fort Lauderdale location. The 1973 vintage is older than neighborhood averages, creating room for targeted upgrades to interiors and building systems that can enhance competitive positioning and renewal rates. Within a 3-mile radius, household growth and projections for further increases in income and rents point to a gradually expanding renter pool that supports occupancy stability. Based on CRE market data from WDSuite, the surrounding neighborhood ranks below the metro median on several metrics, which argues for disciplined operations and a focus on durable tenant demand over speculative rent growth.
Ownership costs benchmark high relative to incomes in the neighborhood, which can sustain reliance on multifamily rentals and support pricing power when paired with product improvements. Counterbalancing factors include below-median neighborhood occupancy, affordability pressure (rent-to-income considerations), limited nearby daily amenities, and a safety profile that trails metro averages—each manageable with appropriate capital planning, security measures, and hands-on asset management.
- 1973 vintage presents clear value-add and systems modernization potential
- 3-mile area shows household growth and income gains supporting a larger tenant base
- High-cost ownership landscape can reinforce renter reliance and pricing power with upgrades
- Operational focus needed: below-median neighborhood occupancy and amenity gaps
- Risk management: safety metrics trail metro averages and rent-to-income pressures warrant careful renewal strategy