| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 43rd | Fair |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1777 Polk St, Hollywood, FL, 33020, US |
| Region / Metro | Hollywood |
| Year of Construction | 1972 |
| Units | 89 |
| Transaction Date | 2009-04-15 |
| Transaction Price | $3,202,900 |
| Buyer | GOLFVIEW RENTAL APARTMENTS LLC |
| Seller | CS GOLFVIEW LLC |
1777 Polk St Hollywood Multifamily Value-Add Opportunity
Neighborhood indicators point to a deep renter pool and improving safety trends, according to WDSuite’s CRE market data, supporting steady leasing conditions around this address.
Situated in Hollywood’s inner-suburb fabric of the Fort Lauderdale metro, the area surrounding 1777 Polk St offers everyday convenience with strong food-and-beverage density and routine services. Cafes and restaurants rank competitively among 345 metro neighborhoods and sit in the top quartile nationally, while grocery access is also above national norms; however, formal parks and pharmacies are limited nearby, so residents rely on the broader Hollywood–Downtown corridor for recreation and wellness.
Renter-occupied housing is a defining feature here: the neighborhood’s renter concentration is among the highest in the metro (67% of units renter-occupied; competitive among Fort Lauderdale’s 345 neighborhoods and in the 96th percentile nationally). For multifamily investors, that depth supports tenant demand across product tiers. Overall occupancy in the neighborhood trails national peers but has improved over the past five years, indicating resiliency and potential for disciplined revenue management as supply/demand balances evolve.
Within a 3-mile radius, population has inched up and households have expanded, with household sizes trending smaller. This points to a gradually expanding renter pool and supports absorption for studio and one-bedroom formats. Median home values sit above many national peers and the value-to-income ratio ranks in the top decile nationwide, signaling a high-cost ownership market that tends to sustain reliance on rental housing and can bolster pricing power for well-managed assets.
From an income perspective, neighborhood-level NOI per unit sits in the top quartile nationally, according to WDSuite, suggesting operational performance that compares favorably to national benchmarks. The property’s 1972 vintage is newer than the neighborhood’s average construction year (1966), yet still older stock by today’s standards—often translating to practical value-add opportunities (exteriors, systems, and interiors) to sharpen competitive positioning against newer deliveries.
Safety signals trend positively at the national level, with both violent and property offense measures in the top quartile compared to neighborhoods nationwide and notable year-over-year declines, based on WDSuite’s data. At the metro level, however, the neighborhood ranks near the lower end among the 345 Fort Lauderdale-area neighborhoods, indicating comparatively higher reported crime versus nearby suburbs. Investors should interpret this as mixed: national standing and recent declines are encouraging, while local relative positioning warrants active property-level security and resident engagement.
Proximity to diversified employers underpins renter demand and commute convenience, particularly for retail services and professional office workers. The base includes AutoNation, Johnson & Johnson, Mosaic, Ryder System, and World Fuel Services—collectively supporting leasing depth across workforce and salaried segments.
- AutoNation — corporate offices (7.3 miles) — HQ
- Johnson & Johnson — corporate offices (12.3 miles)
- Mosaic — corporate offices (14.0 miles)
- Ryder System — corporate offices (18.1 miles) — HQ
- World Fuel Services — corporate offices (19.3 miles) — HQ
1777 Polk St is an 89-unit, 1972-vintage asset positioned in a renter-heavy neighborhood where household growth within a 3-mile radius and smaller household sizes point to a stable, expanding tenant base. Neighborhood occupancy has improved over the past five years, and ownership remains relatively costly versus incomes, supporting sustained multifamily demand. According to commercial real estate analysis from WDSuite, operating performance indicators for the area track above national benchmarks, while older stock dynamics create room for targeted renovations.
Key considerations include executing a value-add plan to modernize systems and interiors, leveraging proximity to diversified employment, and managing affordability pressure (elevated rent-to-income ratios) to protect retention. Local safety ranks weaker within the metro despite favorable national standing and recent declines, so property-level security and resident communication remain important.
- Renter-heavy neighborhood and growing 3-mile household base support steady demand and occupancy stability.
- 1972 vintage offers clear value-add and capex planning angles to enhance competitive positioning.
- High-cost ownership market reinforces reliance on rental housing, aiding pricing power for well-managed assets.
- Nearby diversified employers underpin leasing depth across workforce and professional tenants.
- Risks: local safety ranks weaker within the metro and neighborhood occupancy trails national norms—mitigate via security, unit finishes, and disciplined lease management.