| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 91st | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 522 NE 1st Ave, Fort Lauderdale, FL, 33301, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 1973 |
| Units | 26 |
| Transaction Date | 2023-04-06 |
| Transaction Price | $707,900 |
| Buyer | 522 SCJJC LLC |
| Seller | CASA DORO APARTMENTS PARTNERSHIP |
522 NE 1st Ave Fort Lauderdale Multifamily Investment
Urban Core location with strong amenity access and a high renter-occupied housing share supports steady tenant demand, according to WDSuite’s CRE market data. This positioning can help offset leasing volatility and sustain interest from renters seeking downtown proximity through the cycle during commercial real estate analysis.
Located in Fort Lauderdale’s Urban Core, the property sits in a neighborhood rated A+ and ranked first among 345 metro neighborhoods, signaling top-tier fundamentals within the region. Amenity access is a standout: restaurants and cafes are among the densest concentrations nationally, and parks, groceries, and pharmacies are similarly abundant. These dynamics typically support renter retention and leasing velocity for well-managed multifamily assets.
Renter concentration in the neighborhood is high, with a majority of housing units renter-occupied, which deepens the tenant base and supports demand for professionally managed apartments. Median household incomes are strong compared with many urban districts, and neighborhood-level rents trend above national norms; investors should view pricing power alongside thoughtful lease management to maintain occupancy and limit turnover.
Within a 3-mile radius, demographics show recent population growth and an increase in households, with forecasts through 2028 indicating further population gains and a meaningful rise in household counts. Smaller average household sizes are expected, which generally expands the pool of potential renters and can support occupancy stability for well-located, smaller-format units.
The building’s 1973 vintage is older than the neighborhood’s average construction year (2001), pointing to potential value-add and capital planning opportunities. Targeted renovations and systems upgrades can help the asset compete against newer stock while leveraging the Urban Core location benefits.
Home values in the surrounding neighborhood are elevated relative to many markets nationally. A high-cost ownership landscape often sustains reliance on rental housing in central locations, supporting tenant demand and, with prudent lease management, pricing resilience for well-positioned multifamily communities.
Relative to neighborhoods nationwide, this Urban Core area scores below average on safety metrics (low national percentiles) and ranks toward the lower end among 345 metro neighborhoods. For multifamily investors, this calls for practical risk mitigation—such as strong property operations, lighting and access controls, and tenant-screening practices—common to downtown settings. Monitoring trend direction and submarket comparisons can help position rents and marketing to the appropriate renter profile.
Proximity to downtown employers underpins renter demand and commute convenience. Nearby anchors include AutoNation, Tenet Healthcare (Florida Region), Johnson & Johnson, Office Depot, and Ryder System—providing a diversified white-collar and services employment base that can support leasing stability.
- AutoNation — automotive retail HQ & corporate (0.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (14.8 miles)
- Johnson & Johnson — healthcare & consumer products offices (18.2 miles)
- Office Depot — office supplies corporate (19.0 miles) — HQ
- Ryder System — logistics & transportation corporate (23.5 miles) — HQ
This 26-unit, 1973-vintage community offers Urban Core exposure in Fort Lauderdale with exceptional amenity access and strong renter demand drivers. The neighborhood ranks at the top of the metro and shows high renter-occupied housing share, elevated incomes, and nationally competitive NOI per unit, according to CRE market data from WDSuite. While neighborhood occupancy is softer than national norms, the combination of deep renter pools and employment access supports leasing durability for well-operated assets.
The vintage presents a clear value-add path: targeted interior and systems upgrades can enhance competitiveness versus newer stock and help convert location advantages into higher effective rents and retention. Investors should balance pricing power with affordability management, given higher neighborhood-level rents and Urban Core safety considerations.
- Urban Core, A+ neighborhood with top-of-metro amenity access supports sustained renter demand
- High renter-occupied share and solid income profile deepen the tenant base and leasing prospects
- 1973 vintage offers value-add and capital planning opportunities to compete with newer product
- Employment proximity to multiple corporate anchors supports occupancy and retention
- Risks: softer neighborhood occupancy and below-average safety metrics require active management