| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Poor |
| Demographics | 53rd | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5515 Plunkett St, Hollywood, FL, 33021, US |
| Region / Metro | Hollywood |
| Year of Construction | 2008 |
| Units | 22 |
| Transaction Date | 2025-12-02 |
| Transaction Price | $25,769,000 |
| Buyer | DWIGHT 27 ISLANDER 5515 PLUNKETT LLC |
| Seller | ISLANDER APARTMENTS LLC |
5515 Plunkett St Hollywood 22-Unit Multifamily Investment
Built in 2008, this property is newer than much of the surrounding stock, supporting competitive positioning amid an older Inner Suburb context, according to WDSuite’s CRE market data. Neighborhood occupancy metrics cited below reflect the surrounding area rather than the property, with 3-mile household growth pointing to a steadily expanding renter pool.
The immediate neighborhood is characterized as an Inner Suburb with limited walkable amenities; amenity density ranks near the bottom among 345 Fort Lauderdale metro neighborhoods. Investors should plan on car-oriented living patterns and emphasize onsite features and convenience to offset the sparse restaurant, grocery, and park options nearby.
Vintage matters here: the average construction year in the neighborhood skews to the early 1970s, while this asset’s 2008 delivery provides a relative edge versus older local stock. That positioning can help leasing and retention, though investors should still underwrite routine modernization for systems approaching mid-life to sustain competitiveness.
Neighborhood occupancy is below national norms and sits below the metro median, signaling uneven local leasing dynamics at the neighborhood level. Median asking rents in the neighborhood trend higher than many areas nationally, and a high rent-to-income ratio suggests affordability pressure that can affect renewal strategies and pricing power. These neighborhood metrics are measured for the neighborhood, not the property.
Within a 3-mile radius, population and households have grown in recent years, with forecasts indicating further household growth and smaller average household sizes. This points to a larger tenant base and potential renter pool expansion that can support occupancy stability over time, based on CRE market data from WDSuite.
Home values in the neighborhood are lower than many areas nationally. In investor terms, a more accessible ownership market can introduce some competitive tension with rental housing; however, the 3-mile area maintains a substantial share of renter-occupied units, which supports multifamily demand depth and lease-up resilience when priced to the market.
Safety indicators present a mixed but constructive picture. Compared with other Fort Lauderdale metro neighborhoods (345 total), this area’s crime rank is on the lower end of the spectrum (lower rank indicates more crime relative to the metro), warranting routine risk management and tenant communication. Nationally, however, the neighborhood compares favorably, landing in the top quartile for overall safety and in the top decile for violent-offense comparisons, according to WDSuite.
Recent trends diverge by category: violent-offense estimates show a notable year-over-year improvement, while property-offense momentum has ticked up from a low base. Investors should maintain standard preventative measures and monitor trendlines as part of ongoing asset operations rather than relying on any single-year change.
Proximity to major corporate employers underpins renter demand via diverse white-collar job centers within commuting range. Notable nearby employers include AutoNation, Johnson & Johnson, Mosaic, Ryder System, and World Fuel Services.
- AutoNation — automotive retail (8.9 miles) — HQ
- Johnson & Johnson — healthcare products (9.1 miles)
- Mosaic — fertilizers (13.8 miles)
- Ryder System — logistics (14.8 miles) — HQ
- World Fuel Services — energy (16.3 miles) — HQ
The 2008 vintage delivers a competitive alternative to older neighborhood stock, supporting tenant appeal and maintenance predictability versus 1970s-era comparables. Neighborhood-level occupancy runs below metro and national norms, but within a 3-mile radius, recent and forecast household growth points to a broader tenant base that can support leasing stability when units are priced and managed to local demand. According to CRE market data from WDSuite, neighborhood rents sit above many areas nationally, so disciplined affordability and renewal strategies are important.
Key considerations include limited immediate amenities, mixed but improving safety signals at the national comparison level, and affordability pressure indicated by neighborhood rent-to-income dynamics. With thoughtful capital planning for a mid-life asset and active leasing management, the property can compete effectively against older area inventory.
- 2008 vintage positions the asset competitively versus older neighborhood stock while allowing targeted modernization.
- 3-mile household growth and smaller projected household sizes expand the renter base and support occupancy stability.
- Neighborhood rents above many areas nationally require focused affordability and renewal management to sustain retention.
- Safety compares favorably at the national level, though metro-relative ranks and recent property-offense momentum warrant monitoring.
- Car-oriented location with limited nearby amenities places a premium on onsite features and operational execution.