| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 91st | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 610 NE 1st Ave, Fort Lauderdale, FL, 33304, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 1974 |
| Units | 26 |
| Transaction Date | 2015-04-17 |
| Transaction Price | $155,000 |
| Buyer | 610 SCJJC LLC |
| Seller | COOPER CALDWELL C |
610 NE 1st Ave Fort Lauderdale Multifamily Investment
Urban Core location with strong amenity access and a high share of renter-occupied units supports steady tenant demand, according to WDSuite’s CRE market data. Neighborhood-level occupancy trends should be monitored, but proximity to jobs and services provides durable leasing fundamentals.
Situated in Fort Lauderdale’s Urban Core, the neighborhood is top-ranked among 345 metro neighborhoods and places in the top quartile nationally for overall livability, per WDSuite. Dense access to daily needs stands out: restaurants and cafes are among the highest concentrations nationwide, with grocery, parks, and pharmacies also testing top-quartile levels. For multifamily, this depth of amenities typically supports leasing velocity and resident retention.
Neighborhood housing stock skews newer than the regional average (average construction year 2001 across the neighborhood), while the subject’s 1974 vintage is older. For investors, that gap suggests potential value-add through interior modernization and systems upgrades, balanced against capital planning for legacy building components to remain competitive with newer product.
Renter-occupied share is elevated at the neighborhood level (top quartile nationally), indicating a broad tenant base and consistent multifamily demand. By contrast, neighborhood occupancy performance sits below the metro median and in the lower national percentiles; underwriting should assume competitive concessions and active leasing management until stabilization improves.
Within a 3-mile radius, population has grown recently and is projected to expand further through 2028, with households rising and average household size edging lower. Rising median incomes alongside elevated neighborhood home values signal a high-cost ownership market, which tends to reinforce reliance on multifamily housing and can support pricing power when managed against affordability pressure.
Safety indicators for the neighborhood trend below national percentiles and are weaker than many Fort Lauderdale metro peers. Recent year-over-year estimates also point to an uptick in reported offenses. For investors, that profile warrants prudent operational measures such as lighting, access controls, and partnerships with local public safety programs, along with underwriting for security-related operating costs.
Contextually, Urban Core locations often exhibit higher incident rates yet benefit from proximity to employment, transit, and amenities that underpin multifamily demand. Monitoring multi-year trends and comparing performance against other central neighborhoods across the metro can help frame risk-adjusted expectations.
Nearby employers span headquarters and major corporate offices that support a steady white-collar and healthcare workforce, reinforcing renter demand and lease retention. The list below focuses on headquarters and regional offices within commuting range: AutoNation, Tenet Healthcare Corporation (Florida Region), Johnson & Johnson, Office Depot, and Ryder System.
- AutoNation — automotive retail HQ (0.72 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (14.66 miles)
- Johnson & Johnson — pharmaceuticals & medtech offices (18.34 miles)
- Office Depot — office supplies HQ (18.91 miles) — HQ
- Ryder System — logistics & transportation HQ (23.53 miles) — HQ
This 26-unit, 1974-vintage asset sits in Fort Lauderdale’s top-ranked Urban Core neighborhood, where amenity depth and employment access support durable renter demand. The property’s older vintage relative to the neighborhood’s newer stock points to clear value-add potential via renovations and building system upgrades, while elevated home values in the area tend to sustain reliance on rentals and can bolster pricing power when balanced with rent-to-income considerations.
According to CRE market data from WDSuite, the neighborhood exhibits a high concentration of renter-occupied housing and strong amenity availability, though neighborhood-level occupancy is weaker and safety metrics are below national percentiles. Within a 3-mile radius, population growth, an expanding household base, and rising incomes signal a larger tenant pool over the next several years, supporting occupancy stability with active management and targeted capital improvements.
- Urban Core location with top-quartile amenities that support leasing velocity and retention
- Vintage 1974 positioning creates value-add opportunity through unit/interior updates and system upgrades
- High renter-occupied share and elevated ownership costs reinforce multifamily demand and pricing power
- 3-mile population and household growth expand the tenant base, supporting long-term occupancy
- Risks: below-metro occupancy and weaker safety metrics call for proactive leasing and security planning