| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Poor |
| Demographics | 53rd | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5500 Washington St, Hollywood, FL, 33021, US |
| Region / Metro | Hollywood |
| Year of Construction | 1973 |
| Units | 78 |
| Transaction Date | 2025-12-02 |
| Transaction Price | $13,402,000 |
| Buyer | DWIGHT 27 HOLLYWOOD SQUARE 5500 LLC |
| Seller | LAND TRUST NO 0751 |
5500 Washington St, Hollywood FL Multifamily Investment
Neighborhood fundamentals point to steady renter demand from a broad 3-mile tenant base and income growth, while submarket occupancy lags and warrants disciplined leasing strategy, according to WDSuite’s CRE market data.
Located in an Inner Suburb of Hollywood within Broward County, the property sits near established residential blocks rather than a dense amenity hub. Mapped cafes, groceries, restaurants, parks, and pharmacies register sparsely in the immediate neighborhood dataset, so residents typically rely on broader Hollywood–Fort Lauderdale corridors for daily needs. For investors, this pattern suggests demand is tied more to housing availability and commute convenience than to walk-to retail.
Within a 3-mile radius, demographics indicate a sizable and growing renter pool: population expanded in recent years with a further increase projected, and households rose meaningfully with forecasts calling for additional household growth alongside smaller average household sizes. That combination supports depth for smaller floor plans and steady leasing velocity. Renter-occupied housing comprises roughly two-fifths of units in the 3-mile area, which points to an established base of multifamily users and potential retention through lifecycle moves within the submarket.
Neighborhood-level rents benchmark in the upper portion of national comparisons, while the area’s rent-to-income ratio signals affordability pressure that should be managed through prudent renewals and unit mix positioning. Median home values in the neighborhood context are lower than many U.S. areas, creating some competition from ownership options; however, this also helps sustain rental reliance for households prioritizing flexibility or avoiding upfront ownership costs. According to WDSuite’s commercial real estate analysis, local occupancy at the neighborhood scale trails metro and national norms, reinforcing the need for active marketing and asset-specific value propositions (parking, in-unit finishes, and responsive management).
Construction in the neighborhood skews to early-1970s stock, similar to the subject’s vintage. For investors, that typically implies ongoing opportunities to differentiate via renovations, energy-efficiency upgrades, and amenity-lite enhancements that improve durability and leasing appeal without overcapitalizing for the location tier.
Safety indicators are mixed when viewed across scales. Nationally, violent-offense measures fall in a favorable range and recent trends show notable improvement, while property-offense change has moved higher over the past year. Within the Fort Lauderdale–Pompano Beach–Sunrise metro, some metrics rank less favorably against other neighborhoods among a total of 345, suggesting variability block to block.
Investors should underwrite standard measures—lighting, access control, and coordination with local resources—and align operating plans with resident expectations. Framing safety comparatively rather than at the parcel level is prudent; localized monitoring and community engagement can help support retention and reputation over the hold period.
The location benefits from access to diversified employment nodes that support renter demand and commute convenience, including corporate offices in automotive retail, healthcare and consumer products, fertilizers/chemicals, logistics, and energy services.
- AutoNation — automotive retail (8.8 miles) — HQ
- Johnson & Johnson — healthcare & consumer products (9.1 miles)
- Mosaic — fertilizers & chemicals (13.9 miles)
- Ryder System — logistics & transportation (14.8 miles) — HQ
- World Fuel Services — energy services (16.4 miles) — HQ
Built in 1973 with 78 units, the property aligns with the area’s prevailing vintage and offers clear value-add pathways through targeted interior updates and system modernization. Demand is supported by 3-mile demographic trends—population and households have increased, with projections indicating further household growth and smaller household sizes—expanding the tenant base for efficient one- and two-bedroom layouts. According to CRE market data from WDSuite, neighborhood rents compare well nationally, though local occupancy at the neighborhood level trails broader norms, making hands-on leasing and renewals important to stabilize performance.
The employment base across nearby corporate nodes broadens the resident draw, while lower neighborhood home values can introduce some competition from ownership. Pairing competitive finishes with disciplined pricing and expense control can position the asset to capture steady absorption and retention, even as affordability pressure requires careful lease management.
- 1973 vintage with value-add and capital planning upside in a 78-unit footprint
- Expanding 3-mile renter pool and smaller household sizes support depth for smaller floor plans
- Proximity to diversified employers underpins leasing and retention
- Neighborhood rents compare well nationally; active management can mitigate softer local occupancy
- Risks: affordability pressure and variable property-crime trends call for prudent pricing and security investments