| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 24th | Poor |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4201 NW 34th Way, Fort Lauderdale, FL, 33309, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 2004 |
| Units | 26 |
| Transaction Date | 2020-08-31 |
| Transaction Price | $16,920,600 |
| Buyer | PC ST CROIX LLC |
| Seller | ST CROIX ASSOCIATES LTD |
4201 NW 34th Way, Fort Lauderdale Multifamily
2004-vintage, 26-unit asset positioned for durable renter demand in an inner-suburban pocket where neighborhood occupancy remains high, according to WDSuite s CRE market data. This location offers steady fundamentals with room for targeted value-add and disciplined operations based on thoughtful commercial real estate analysis.
The property sits in an Inner Suburb of Fort Lauderdale with neighborhood occupancy measured at 98.1% (neighborhood-level, not property-specific), placing it in the top decile nationally and above the metro median based on WDSuite s CRE market data. That stability supports leasing consistency and reduces downtime risk when units turn.
Local housing stock skews older (average 1976), while this asset s 2004 construction is comparatively newer. For investors, that positioning can offer competitive appeal versus legacy buildings, while still planning for typical mid-life systems updates and selective modernization to drive rents and retention.
Within a 3-mile radius, the renter-occupied share is 47.8%, indicating a sizable tenant base. Population and households are expanding over the current and forecast periods, pointing to a larger renter pool and support for occupancy stability. Median contract rents in the 3-mile radius have risen over the past five years, reinforcing the case for disciplined revenue management.
Amenity access is mixed. Restaurant density trends strong (around the 90th percentile nationally), childcare availability scores well in the metro context, and park access is competitive. By contrast, cafes and grocery store counts are thinner in the immediate neighborhood, suggesting the property s appeal hinges more on connectivity to broader Fort Lauderdale nodes than on hyper-local retail saturation.
Home values in the neighborhood sit above many U.S. areas, and the local value-to-income ratio ranks in the higher tiers metro-wide. In practical investor terms, a high-cost ownership market can sustain reliance on multifamily housing, supporting pricing power when paired with careful lease management and attention to rent-to-income dynamics.
Safety indicators are mixed in this neighborhood compared with the Fort Lauderdale metro and the nation. Overall crime levels rank below the metro median (ranked 240 among 345 metro neighborhoods) and sit below the national midpoint (around the 34th percentile nationwide). While this suggests elevated incident rates relative to stronger submarkets, property crime has improved recently, with estimated rates declining by roughly a quarter year over year, according to CRE market data from WDSuite.
Investors should underwrite with standard security and lighting enhancements, and weigh trends at the neighborhood scale rather than block-by-block assumptions. Continued monitoring of year-over-year changes helps calibrate operating expenses and resident experience initiatives.
The area draws on a diverse employment base that supports renter demand and commute convenience, led by regional headquarters and corporate offices in automotive retail, healthcare, office supplies, pharmaceuticals, and logistics. Specifically, proximity to AutoNation, Tenet Healthcare, Office Depot, Johnson & Johnson, and Ryder System underpins weekday traffic and lease retention.
- AutoNation automotive retail HQ (5.1 miles) HQ
- Tenet Healthcare Corporation, Florida Region healthcare services offices (10.1 miles)
- Office Depot office supplies HQ (16.2 miles) HQ
- Johnson & Johnson pharmaceuticals/healthcare offices (20.0 miles)
- Ryder System logistics & fleet management HQ (24.4 miles) HQ
Built in 2004, this 26-unit property is newer than much of the surrounding housing stock, offering competitive positioning versus older assets while still allowing for targeted value-add through interior refreshes and systems planning. Neighborhood occupancy is high on a comparative basis (neighborhood-level measure), supporting lease-up and retention. According to CRE market data from WDSuite, the broader area shows growing households within a 3-mile radius, which expands the tenant base and supports revenue stability.
Ownership costs remain elevated relative to incomes locally, which can reinforce reliance on multifamily rentals. At the same time, rent-to-income levels in the neighborhood indicate affordability pressure for some renter cohorts, warranting disciplined renewal strategies and amenity positioning. Overall, the combination of strong neighborhood occupancy, proximity to anchor employers, and a mid-2000s vintage supports a balanced, operations-focused thesis.
- High neighborhood occupancy supports leasing stability and lower downtime risk
- 2004 vintage offers competitive positioning versus older stock with selective value-add upside
- Expanding 3-mile household counts point to a larger tenant base and sustained demand
- Proximity to regional HQs and healthcare/corporate offices supports weekday traffic and retention
- Risk: Elevated rent-to-income ratios in the neighborhood call for careful pricing and renewal management