| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 11th | Poor |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 824 NW 14th Ave, Fort Lauderdale, FL, 33311, US |
| Region / Metro | Fort Lauderdale |
| Year of Construction | 2012 |
| Units | 59 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
824 NW 14th Ave Fort Lauderdale Multifamily Investment
Built in 2012 and positioned in a renter-heavy submarket, the asset benefits from neighborhood occupancy in the mid-90s and a steady tenant base, according to WDSuite’s CRE market data. Newer construction relative to nearby stock supports competitive positioning while leaving room for selective upgrades over time.
The property sits in an Inner Suburb pocket of Fort Lauderdale where neighborhood occupancy trends are competitive among Fort Lauderdale-Pompano Beach-Sunrise neighborhoods. Median contract rents and home values track near the metro middle, which helps sustain multifamily demand without relying on top-of-market pricing.
Local amenity access is mixed: restaurants and groceries are well represented (both strong by metro standards), parks are accessible, and childcare density ranks high, while cafes and pharmacies are limited. For everyday living, this combination supports resident convenience and retention, particularly for workforce households.
Renter concentration is high at the neighborhood level (share of units that are renter-occupied is well above the metro median), signaling depth in the tenant base and consistent leasing velocity for multifamily. The average building vintage in the area skews older (mid-1960s), so a 2012-built community can outperform nearby legacy assets on maintenance and finishes, though investors should still plan for system updates as the property ages.
Within a 3-mile radius, population has grown modestly over the last five years and household counts have increased, expanding the local renter pool. Forward-looking projections in WDSuite point to additional household growth through 2028 alongside smaller average household sizes, a combination that generally supports unit absorption and occupancy stability for mid-size properties.
Ownership costs in the surrounding area are elevated relative to incomes by national standards, reinforcing reliance on rental housing. At the same time, rent-to-income ratios indicate some affordability pressure, suggesting that disciplined lease management and measured renewals can help balance pricing power with retention.
Safety indicators for the immediate neighborhood trend below metro averages and sit in lower national percentiles, indicating higher reported crime than many U.S. neighborhoods. This calls for standard operational precautions—such as lighting, access controls, and community engagement—to support resident comfort and retention.
Compared with other areas in the Fort Lauderdale-Pompano Beach-Sunrise metro (345 neighborhoods total), the neighborhood ranks in the lower cohort for crime, while nationally it falls below the median. Investors typically underwrite to this by calibrating security measures and factoring in management intensity.
The area draws from a diverse employment base that supports renter demand, with proximity to headquarters and major office nodes including AutoNation, Tenet Healthcare, Johnson & Johnson, and Office Depot. These employers contribute to steady leasing from commuters seeking convenient access.
- AutoNation — automotive retail (1.35 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (13.87 miles)
- Johnson & Johnson — healthcare products (18.01 miles)
- Office Depot — office supplies (18.78 miles) — HQ
This 59-unit, 2012-built community offers newer vintage relative to an area dominated by mid-1960s stock, positioning it well against older competitors while leaving room for targeted value-add. Neighborhood occupancy has improved over the past five years and remains competitive within the metro; coupled with a renter-occupied share above the metro median, this supports durable leasing and mitigates downtime risk, based on CRE market data from WDSuite.
Within 3 miles, recent population growth and a larger household base point to a widening renter pool, with projections indicating additional household increases and smaller average household sizes by 2028—both supportive of absorption. Elevated ownership costs in context with local incomes buttress demand for rentals, though higher rent-to-income ratios argue for careful renewal strategies. Safety metrics are weaker than metro norms, so underwriting should include appropriate security and management intensity.
- 2012 vintage versus older neighborhood stock supports competitive positioning and lower near-term CapEx relative to legacy assets.
- Competitive neighborhood occupancy and high renter concentration underpin leasing stability and reduce downtime risk.
- 3-mile household growth and projected renter pool expansion support absorption for mid-size units.
- Ownership costs versus incomes reinforce reliance on rentals, while measured rent strategies can balance pricing power with retention.
- Risk: safety indicators trail metro averages, warranting enhanced security and active management in underwriting.