| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 11th | Poor |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 615 NW 10th Ave, Fort Lauderdale, FL, 33311, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 2011 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
615 NW 10th Ave Fort Lauderdale 24-Unit Multifamily
Neighborhood occupancy has trended stable with a solid renter base, according to WDSuite’s CRE market data, supporting consistent leasing for efficiently sized units. 2011 construction provides competitive positioning versus older local stock while leaving room for targeted upgrades.
Situated in an Inner Suburb of Fort Lauderdale, the property benefits from everyday conveniences that support renter retention. The surrounding neighborhood rates strong for essentials, with grocery and restaurant density performing in the top decile nationally and park access also above national norms. Childcare availability is comparatively strong as well, while cafes and pharmacies are thinner locally—an operational consideration for residents that may modestly affect walk-to options.
For investors, the local housing fabric is primarily renter-driven: about 52% of housing units are renter-occupied in this neighborhood, indicating a deep tenant base and steady demand for multifamily. Neighborhood occupancy is in the mid-90s and has improved over the last five years, pointing to stability across cycles. Median contract rents within the neighborhood are mid-market relative to South Florida, and lease-up dynamics are aided by the area’s everyday amenity access.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with projections calling for further population gains and a sizable increase in household count alongside smaller average household sizes. This combination typically expands the renter pool and supports occupancy stability for well-located, efficiently sized units. Household income medians have risen meaningfully, and forecasts indicate continued income growth, which can help sustain demand even as asking rents advance.
Home ownership costs in the neighborhood are elevated relative to incomes (value-to-income ratio sits in the top decile nationally), which tends to reinforce reliance on multifamily housing and can support pricing power. At the same time, the neighborhood’s rent-to-income ratio is on the higher side, so prudent lease management and renewal strategies remain important. These dynamics, taken together and based on commercial real estate analysis from WDSuite, suggest durable renter demand with balanced, execution-driven upside.
Safety indicators for the neighborhood sit below national norms (crime measures rank in lower national percentiles), which investors should underwrite with appropriate onsite management, lighting, and access controls. Monitoring trend direction and submarket comps can help calibrate operating assumptions and insurance planning without over-relying on single-year readings.
Proximity to established employers supports a broad commuter tenant base and helps underpin retention. Nearby anchors include corporate headquarters and regional offices across automotive retail, healthcare services, and consumer products.
- AutoNation — automotive retail HQ (0.98 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (14.22 miles)
- Johnson & Johnson — pharma & consumer health (17.95 miles)
- Office Depot — office supplies HQ (18.97 miles) — HQ
- Mosaic — agriculture & chemicals (22.06 miles)
This 24-unit property, built in 2011, is newer than the surrounding neighborhood’s average vintage, offering competitive positioning versus older inventory while leaving room for selective modernization of interiors and common areas. Neighborhood occupancy remains resilient and renter concentration is high, supporting steady demand for smaller-format units. According to CRE market data from WDSuite, amenity access for groceries, restaurants, parks, and childcare is comparatively strong, helping bolster day-to-day livability and lease retention.
Within a 3-mile radius, population and household growth—paired with forecasts of additional household expansion and smaller average household sizes—points to a larger tenant base over the medium term. Ownership costs run high relative to incomes locally, which tends to sustain reliance on rentals and supports pricing power; however, rent-to-income levels suggest attention to renewal strategies and unit-level affordability will be important. Overall, the asset’s newer vintage and efficient unit mix position it to capture durable demand while enabling value through targeted upgrades and disciplined operations.
- Newer 2011 vintage versus older neighborhood stock supports competitive positioning
- Stable neighborhood occupancy and strong renter concentration underpin demand
- 3-mile population and household growth expand the tenant base and support leasing
- Everyday amenities (groceries, restaurants, parks, childcare) aid retention
- Risks: below-national safety readings and higher rent-to-income call for prudent management