| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 21st | Poor |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 307 NW 1st Ave, Fort Lauderdale, FL, 33301, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 2009 |
| Units | 101 |
| Transaction Date | 2008-03-20 |
| Transaction Price | $4,064,000 |
| Buyer | ECLIPSE WEST ASSOCIATES LTD |
| Seller | BRICKELL HEIGHTS LLC |
307 NW 1st Ave Fort Lauderdale Multifamily Investment
Urban-core positioning and a newer 2009 vintage underpin leasing durability, with a deep renter base in the immediate neighborhood, according to WDSuite’s CRE market data.
Located in Fort Lauderdale’s Urban Core, the property benefits from a renter-heavy neighborhood profile and proximity to downtown employment. Neighborhood occupancy trends indicate stabilized renter demand, and the 2009 construction year offers competitive positioning versus a local average vintage from the 1980s, which can support retention while limiting near-term capital intensity relative to older stock.
Live-work convenience is supported by strong access to daily needs: grocery availability ranks competitive among 345 metro neighborhoods and sits in the top decile nationally, while restaurant density is also above national norms. By contrast, dedicated parks, pharmacies, and cafes are sparse within the neighborhood footprint, so residents may rely on adjacent districts for those amenities.
Tenure data show a high share of housing units that are renter-occupied in the neighborhood, pointing to a sizable tenant base and consistent multifamily demand. Home values track above national medians and the ownership market skews higher-cost (high national percentile for value-to-income), which tends to reinforce reliance on multifamily housing; at the same time, rent-to-income ratios signal some affordability pressure that owners should manage through thoughtful lease strategies and amenity positioning.
Within a 3-mile radius, demographics indicate recent population and household growth, with forecasts through 2028 calling for further renter pool expansion and smaller average household sizes. These trends typically support occupancy stability and absorption for professionally managed assets, based on CRE market data from WDSuite. Average school ratings are not available for this neighborhood; underwriting should account for school quality variation at the micro level if family demand is part of the strategy.
Safety metrics for the neighborhood track below national averages, with crime levels ranking in the lower tier among 345 metro neighborhoods and landing in a low national percentile. Recent year-over-year trends show increases in both property and violent offenses, so investors should underwrite for security measures, lighting, and partnership with local resources to support resident comfort and retention over time.
Contextually, Fort Lauderdale’s Urban Core can exhibit block-to-block variability typical of downtown-adjacent areas. Framing risk comparatively rather than absolutely, the area is not top quartile nationally for safety; monitoring trend direction and adopting preventative on-site practices are prudent elements of asset management.
The downtown employment base anchors renter demand, with proximity to regional corporate offices supporting commute convenience and retention. Key nearby employers include AutoNation, Tenet Healthcare, Johnson & Johnson, Office Depot, and Mosaic.
- AutoNation — automotive retail HQ (0.4 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (14.9 miles)
- Johnson & Johnson — healthcare & consumer products offices (18.0 miles)
- Office Depot — office supplies HQ (19.3 miles) — HQ
- Mosaic — agribusiness offices (21.7 miles)
This 2009-vintage, 101-unit asset sits in Fort Lauderdale’s Urban Core, where a high share of renter-occupied housing supports depth of tenant demand. Newer construction relative to the area’s older housing stock provides a competitive edge for leasing and reduces near-term capital needs versus 1980s-vintage comparables, while still leaving room for selective modernization to drive rent positioning. According to CRE market data from WDSuite, the surrounding neighborhood demonstrates stabilized multifamily demand and solid access to daily needs, with grocery and dining density that supports urban livability.
Within a 3-mile radius, recent and projected gains in population and households point to an expanding renter pool and steady absorption potential. Elevated ownership costs in the broader area tend to sustain reliance on rentals, though neighborhood rent-to-income ratios suggest affordability pressure that warrants careful lease management. Investors should underwrite for safety and operations-focused enhancements, balancing urban demand drivers with prudent risk controls.
- 2009 vintage outcompetes older neighborhood stock, supporting leasing and limiting near-term capital intensity.
- High renter concentration and downtown employment access reinforce demand depth and occupancy stability.
- Strong grocery and dining access enhances livability for workforce and professional renters.
- Demographic growth within 3 miles expands the tenant base and supports absorption over the medium term.
- Risks: below-average safety metrics and affordability pressure require active security and lease management.