| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 40th | Poor |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5651 Washington St, Hollywood, FL, 33023, US |
| Region / Metro | Hollywood |
| Year of Construction | 1974 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5651 Washington St Hollywood Multifamily Investment
Neighborhood occupancy is notably tight, supporting stable leasing dynamics for a 112-unit asset, according to WDSuite s CRE market data. This positioning can underpin steady cash flow potential even as broader conditions shift.
Located in Hollywood an inner-suburban setting within the Fort Lauderdale-Pompano Beach-Sunrise metro the property benefits from strong day-to-day conveniences. The neighborhood scores above the U.S. median for amenities overall (61st percentile nationally), with dense grocery coverage (98th percentile nationally) and a deep bench of childcare options (97th percentile nationally). Caf e9 and restaurant density also track above national norms, supporting resident livability and service employment draw.
For investors, the clearest signal is sustained renter demand: neighborhood occupancy is in the top quartile nationally and ranks near the front of the pack locally (17th among 345 metro neighborhoods), pointing to limited slack and supporting renewal capture. Median contract rents in the neighborhood sit above national norms (80th percentile), while the rent-to-income ratio of the area is on the lower side (14th percentile nationally), a mix that can aid retention while allowing disciplined rent management.
Tenure patterns indicate a meaningful but not dominant renter base: approximately one-third of housing units are renter-occupied in the neighborhood (renter concentration around 34%), implying demand depth for multifamily alongside some competition from ownership. Elevated home values relative to incomes (value-to-income around the 86th national percentile) suggest a high-cost ownership market, which tends to reinforce reliance on rental housing and can support occupancy resilience for well-managed properties.
Within a 3-mile radius, demographics show population growth over the past five years alongside a larger increase in households, signaling smaller household sizes and a broader tenant base. Looking ahead, forecasts indicate further gains in households by the end of the decade, which supports leasing stability and absorption for professionally operated multifamily assets in this part of Broward County, based on CRE market data from WDSuite.
Safety indicators compare favorably in a national context. Overall crime sits in the top quartile nationally for safety (82nd percentile), and property offenses are particularly favorable (98th percentile nationally). Year over year, property offenses declined sharply ( 7 % range) with improvement rates that are among the strongest nationwide (near the 99th percentile), according to WDSuite. While conditions can vary block to block, this trajectory supports resident retention and leasing consistency relative to many urban-adjacent neighborhoods.
Nearby corporate anchors provide a diversified employment base and support renter demand through commute convenience. Key employers within a commutable radius include AutoNation, Johnson & Johnson, Mosaic, Ryder System, and World Fuel Services.
- AutoNation corporate offices (8.7 miles) HQ
- Johnson & Johnson corporate offices (9.2 miles)
- Mosaic corporate offices (14.1 miles)
- Ryder System corporate offices (14.8 miles) HQ
- World Fuel Services corporate offices (16.4 miles) HQ
5651 Washington St offers scale at 112 units in a neighborhood that exhibits tight occupancy and above-national rent levels, supporting durable cash flow potential. The asset s 1974 vintage is slightly older than the area s average stock, creating a clear value-add path through targeted renovations and systems updates to sharpen competitive positioning against newer inventory. Elevated ownership costs in the surrounding area and a renter share around one-third of units point to a stable but disciplined demand profile that rewards professional operations and renewal management.
Demand fundamentals are reinforced by 3-mile demographic trends: population has expanded in recent years with households growing faster than population, broadening the tenant base. According to CRE market data from WDSuite, the neighborhood s occupancy performance sits near the front of the metro s 345 neighborhoods and in the top quartile nationally, supporting retention, pricing power on renewals, and risk-managed lease-up for renovated units.
- Tight neighborhood occupancy supports rent durability and renewal capture
- 1974 vintage enables value-add through interiors and building systems
- Elevated ownership costs reinforce reliance on multifamily housing
- 3-mile household growth expands the tenant base and supports absorption
- Risks: older physical plant (capex planning), limited nearby parks/pharmacies, and moderate renter depth