| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 55th | Fair |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7843 Davie Road Ext, Hollywood, FL, 33024, US |
| Region / Metro | Hollywood |
| Year of Construction | 2011 |
| Units | 52 |
| Transaction Date | 2010-11-30 |
| Transaction Price | $2,925,000 |
| Buyer | TOWN PARK CROSSING LP |
| Seller | PARK VILLAS DAVIE LLC |
7843 Davie Road Ext, Hollywood FL — 2011 Vintage Income Asset
Neighborhood occupancy is competitive for the Fort Lauderdale metro and renter demand is reinforced by a high-cost ownership market, according to WDSuite’s CRE market data.
Situated in Hollywood’s inner-suburban context within the Fort Lauderdale–Pompano Beach–Sunrise metro, the property benefits from a neighborhood rated A- and ranked 66 out of 345 metro neighborhoods, indicating performance above the metro median. Local occupancy is competitive among Fort Lauderdale neighborhoods, supporting steady leasing conditions at the neighborhood level rather than at the property itself.
Construction year is 2011, newer than the neighborhood’s typical 1987 vintage. Newer stock can position the asset more competitively versus older properties while still warranting mid-life capital planning for systems and common areas to sustain rent positioning.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising, pointing to a larger tenant base and renter pool expansion. Median incomes in the 3-mile area have advanced meaningfully over the last five years, which can support effective rent levels and absorption for well-maintained units.
Amenities skew favorable for daily convenience: grocery and pharmacy access rank in the upper tiers metro-wide, and cafe and childcare density are strong compared with national peers. Neighborhood rents sit in the top quartile among 345 metro neighborhoods, while the renter-occupied share (about 41.5% of housing units) signals a meaningful renter concentration that supports multifamily demand depth. Park access is limited in the immediate neighborhood, which may modestly affect lifestyle appeal but is typically manageable when weighed against proximity to jobs and services.
Safety indicators are mixed and broadly near the national midpoint overall. The neighborhood’s crime profile sits around the 48th national percentile, indicating conditions close to national averages. Within the metro, the neighborhood ranks 149 out of 345, suggesting it performs near the middle of Fort Lauderdale area neighborhoods.
Recent trends show notable improvement in estimated property offenses over the past year (a favorable direction), while estimated violent incidents increased over the same period. Investors typically address this mix with standard operational measures—lighting, access control, and community engagement—and by emphasizing the area’s proximity to employment and services.
Proximity to major employers supports workforce housing demand and commuter convenience, with concentration in corporate headquarters and regional offices including AutoNation, Johnson & Johnson, Ryder System, World Fuel Services, and Mosaic.
- AutoNation — automotive retail HQ (8.7 miles) — HQ
- Johnson & Johnson — healthcare & consumer products offices (9.6 miles)
- Ryder System — logistics & transportation HQ (14.4 miles) — HQ
- World Fuel Services — energy & logistics HQ (16.8 miles) — HQ
- Mosaic — agriculture & chemicals offices (17.2 miles)
The 2011 construction provides an edge over older neighborhood stock (average 1987), aiding leasing competitiveness while calling for mid-life system upkeep and select modernization to sustain pricing. Neighborhood occupancy is competitive among Fort Lauderdale neighborhoods, and the renter-occupied share indicates a sizable tenant base. According to CRE market data from WDSuite, elevated home values and a high value-to-income ratio in the neighborhood point to a high-cost ownership market that can reinforce reliance on rentals.
Within a 3-mile radius, population is expanding and households are projected to increase, enlarging the renter pool and supporting long-run demand. At the same time, rent-to-income signals some affordability pressure, so revenue management and retention strategies remain important. Limited park access and mixed safety trends are manageable considerations when balanced against strong amenity access and proximity to major employers.
- 2011 vintage vs. 1980s neighborhood average supports competitive positioning with prudent mid-life capex planning
- Competitive neighborhood occupancy and meaningful renter concentration underpin stable demand
- High-cost ownership landscape bolsters multifamily renter reliance and pricing power potential
- 3-mile area population and household growth expand the tenant base over the medium term
- Risks: affordability pressure (rent-to-income), limited park access, and mixed safety trends require active management