| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Fair |
| Demographics | 26th | Poor |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6051 Arthur St, Hollywood, FL, 33024, US |
| Region / Metro | Hollywood |
| Year of Construction | 1980 |
| Units | 20 |
| Transaction Date | 2013-08-16 |
| Transaction Price | $1,330,000 |
| Buyer | ARTHUR STREET APARTMENTS OF HOLLYWOOD FL |
| Seller | 6051 ARTHUR ST APTS LLC |
6051 Arthur St, Hollywood FL — 1980 Vintage Multifamily
Investor takeaway: the surrounding neighborhood shows a deep renter base and solid daily-needs access, supporting stable leasing potential, according to WDSuite’s CRE market data. Neighborhood metrics reflect area conditions, not this specific property.
Located in Hollywood’s inner suburban fabric of Broward County, the property benefits from a renter-leaning neighborhood profile and a broad set of nearby conveniences. Neighborhood amenity access is competitive nationally for groceries, restaurants, cafes, and childcare, indicating day-to-day convenience that supports tenant retention. Park access is limited in the immediate area, which may modestly temper lifestyle appeal for some renter cohorts.
Neighborhood renter concentration is high (share of housing units that are renter-occupied), placing the area in the top quartile nationally and signaling a deep tenant base for multifamily demand. By contrast, neighborhood occupancy trends sit closer to national mid-tier levels, suggesting prudent lease management and marketing will matter for consistent performance.
Home values in the neighborhood are elevated relative to local incomes (high national percentile for value-to-income), which typically sustains reliance on multifamily rentals. Median rents track above national norms, while rent-to-income ratios indicate some affordability pressure; investors should focus on service/amenity positioning and renewal strategies to support pricing power without increasing turnover risk.
Within a 3-mile radius, population and households have grown and are projected to continue expanding over the next five years, pointing to a larger tenant base and ongoing demand for rental units. This growth, combined with strong retail access, underpins leasing durability relative to many older inner-suburban submarkets, based on CRE market data from WDSuite.
Neighborhood safety metrics trend favorable in a national context. Overall crime sits in the top decile nationally, and violent-offense measures are also positioned well above national averages, according to WDSuite’s CRE data. Recent year-over-year readings indicate notable improvement in property and violent incident estimates. These are area-level indicators and can vary by block; investors should confirm on-the-ground conditions and management protocols during diligence.
Nearby corporate employers provide diverse white-collar and services employment, supporting renter demand and commute convenience for residents. The list below highlights proximate anchors most relevant to the area these names align with the neighborhood s leasing base and retention profile.
- AutoNation — corporate offices (7.9 miles) — HQ
- Johnson & Johnson — corporate offices (9.8 miles)
- Ryder System — corporate offices (15.2 miles) — HQ
- Mosaic — corporate offices (15.5 miles)
- World Fuel Services — corporate offices (17.1 miles) — HQ
Built in 1980, this 20-unit asset offers a practical value-add path: competitive positioning versus older 1960s neighborhood stock, with potential to modernize systems and interiors over time. The surrounding area shows strong renter concentration, solid retail and daily-needs coverage, and improving safety indicators, supporting steady tenant demand. According to CRE market data from WDSuite, ownership costs are relatively high in the neighborhood compared to incomes, which typically reinforces reliance on rentals and supports renewal probabilities.
Operating focus should balance rent growth with retention. Neighborhood occupancy is closer to national mid-range levels and rent-to-income ratios indicate some affordability pressure, so pragmatic amenity upgrades and service quality can drive performance without elevating turnover. Compact average unit sizes may appeal to price-sensitive renters, providing a foothold for leasing velocity while leaving room for targeted renovations.
- 1980 vintage enables value-add through modernization while remaining competitive against older local stock.
- High renter-occupied share indicates a deep tenant base and supports demand durability.
- Strong access to groceries, restaurants, cafes, and childcare underpins retention and daily convenience.
- Favorable area-level safety trends strengthen long-term leasing confidence.
- Risks: mid-tier neighborhood occupancy, some rent-to-income pressure, and limited park access warrant careful lease and capex planning.