| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 27th | Poor |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3615 SW 52nd Ave, Hollywood, FL, 33023, US |
| Region / Metro | Hollywood |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | 2005-02-15 |
| Transaction Price | $2,400,000 |
| Buyer | ANZAK INVESTMENTS I LLC |
| Seller | BSD MADISON LLC |
3615 SW 52nd Ave Hollywood Multifamily Investment
According to WDSuite’s CRE market data, the surrounding neighborhood posts occupancy near the metro average and a notably high renter concentration, indicating depth of tenant demand that can support leasing durability.
Located in Hollywood, Florida, the property sits within an Urban Core neighborhood that trends closer to the metro middle on occupancy while drawing from a large regional renter base. Neighborhood occupancy is around the national midpoint, and the renter-occupied share ranks 6th among 345 Fort Lauderdale-area neighborhoods, signaling a deep tenant pool for multifamily operators.
Livability is mixed but workable for workforce housing: restaurants are represented at a level that is competitive nationally, while on-block access to groceries, parks, childcare, and pharmacies is limited. Average school ratings in the neighborhood are modest, which may influence family-oriented leasing strategies, but does not preclude steady demand for value-oriented units.
The asset was built in 1972, older than the neighborhood’s average 1980 vintage. For investors, this points to clear value-add and capital planning opportunities—modernizations can sharpen competitive positioning versus newer stock and support rent attainment where renovations align with renter preferences.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with households projected to continue expanding over the next five years, supporting a larger tenant base and occupancy stability. Median home values are elevated relative to local incomes (high value-to-income ranking), which, combined with rising asking rents, suggests ownership is costly for many households—conditions that tend to sustain reliance on multifamily rentals and support retention, per commercial real estate analysis from WDSuite.
Safety indicators are mixed and should be monitored. The neighborhood’s overall crime ranking is competitive among Fort Lauderdale-Pompano Beach-Sunrise neighborhoods (ranked 127 out of 345), roughly around the metro middle. Nationally, the area trends near mid-range on combined crime metrics.
Property offenses have improved year over year (stronger national percentile and a recent decline), which is constructive for asset operations. By contrast, the violent offense rate has moved higher over the last year, placing the neighborhood below national mid-range on that metric. Taken together, trends suggest standard security and resident-experience measures are prudent, with investors focusing on on-site management practices and lighting, rather than assuming block-level conclusions.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience for residents, including Johnson & Johnson, AutoNation, Mosaic, Ryder System, and World Fuel Services.
- Johnson & Johnson — pharmaceuticals & medtech offices (8.2 miles)
- AutoNation — automotive retail corporate (10.3 miles) — HQ
- Mosaic — fertilizer & industrial offices (12.3 miles)
- Ryder System — logistics & transportation corporate (14.1 miles) — HQ
- World Fuel Services — energy services corporate (15.3 miles) — HQ
This 36-unit, 1972-vintage Hollywood asset offers scale with larger-than-typical unit sizes for its class and clear value-add pathways through targeted renovations and system upgrades. Neighborhood occupancy trends near the national midpoint while renter concentration ranks among the highest in the metro, supporting tenant-base depth and leasing stability. According to CRE market data from WDSuite, elevated ownership costs in the area reinforce reliance on rentals, and 3-mile radius demographics point to expanding households that can underpin absorption.
Key considerations include affordability pressure (higher rent-to-income levels) that may influence renewal strategies and concessions management, and mixed—but improving on property offenses—safety signals that warrant standard operational vigilance. With thoughtful capital planning, the asset can compete effectively against newer stock while capturing demand from a broad workforce renter pool.
- Deep renter base: renter-occupied share ranks 6th among 345 metro neighborhoods, supporting demand
- Value-add upside: 1972 vintage presents renovation and systems-upgrade opportunities to enhance NOI
- Demand drivers: 3-mile population and household growth support occupancy stability and absorption
- Pricing power context: elevated ownership costs sustain reliance on multifamily rentals
- Risks: higher rent-to-income may affect retention; safety trends are mixed and should be monitored