| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 46th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 911 S Park Rd, Hollywood, FL, 33021, US |
| Region / Metro | Hollywood |
| Year of Construction | 1998 |
| Units | 108 |
| Transaction Date | 1995-04-17 |
| Transaction Price | $4,205,500 |
| Buyer | M I G HOLLYWOOD DEV |
| Seller | PK RD ACQUISITION CORP INC |
911 S Park Rd Hollywood Multifamily Investment
Renter demand is supported by household growth within a 3-mile radius and a renter-occupied presence that is competitive in the metro, according to CRE market data from WDSuite. Investors should underwrite for pricing power balanced against local affordability pressure.
Situated in Hollywood’s inner suburb of the Fort Lauderdale–Pompano Beach–Sunrise metro, the property benefits from a 3-mile catchment showing population growth and an 11% increase in households over the past five years, expanding the prospective tenant base. Forward-looking projections indicate additional household expansion and smaller average household sizes by 2028, which typically supports multifamily absorption and occupancy stability.
At the neighborhood scale, renter-occupied share ranks 113 out of 345 metro neighborhoods, making it competitive among Fort Lauderdale–Pompano Beach–Sunrise neighborhoods for multifamily leasing depth. However, neighborhood occupancy is weaker versus many peers (rank 299 of 345), so lease-up and retention strategies should be a focus. Median contract rents in the 3-mile area have risen, and WDSuite’s CRE market data point to further rent growth in the forecast period, suggesting ongoing pricing potential where value is demonstrated.
The property’s 1998 vintage is newer than the neighborhood’s average construction year of 1981. This positioning can help differentiate against older stock; targeted modernization of common areas and building systems may further enhance competitiveness without the heavier capital profile typical of pre-1980 assets.
Home values in the immediate neighborhood are relatively modest compared with many U.S. areas, which can introduce some competition from ownership options. Even so, the 3-mile area shows a balanced tenure split (roughly half renter-occupied), and projected rent and income growth indicate a sustained renter pool, supporting lease retention where management aligns rents with local affordability.
Safety indicators are mixed relative to national benchmarks. Overall, the neighborhood sits around the 36th percentile nationally for safety, indicating higher crime than many U.S. neighborhoods, while property offenses are comparatively better positioned near the 67th percentile nationally. Violent offense levels are closer to the national middle (about the 49th percentile). Investors should consider routine security and lighting best practices and review recent trends as part of operations planning.
Proximity to regional corporate employers supports a steady commuter renter base and aids retention through commute convenience. Notable nearby employers include AutoNation, Johnson & Johnson, Mosaic, Ryder System, and World Fuel Services.
- AutoNation — corporate offices (8.4 miles) — HQ
- Johnson & Johnson — corporate offices (10.1 miles)
- Mosaic — corporate offices (13.6 miles)
- Ryder System — corporate offices (15.9 miles) — HQ
- World Fuel Services — corporate offices (17.2 miles) — HQ
This 108-unit, 1998-vintage asset offers scale and a relative age advantage versus the neighborhood’s older housing stock, with modernization potential to sharpen competitive positioning. Within a 3-mile radius, population and household growth, along with a forecast shift toward smaller households, point to renter pool expansion that can support occupancy and measured rent increases.
Based on commercial real estate analysis using WDSuite’s CRE market data, the neighborhood shows a renter-occupied share that is competitive among metro areas, nearby access to diversified employers, and forecast rent growth. Key underwriting considerations include local affordability pressure (elevated rent-to-income signals), neighborhood-level occupancy that trails many metro peers, and the need to balance renovations with achievable rents.
- 1998 vintage with value-add and systems modernization potential versus older neighborhood stock
- 3-mile renter pool expansion from population and household growth supports leasing stability
- Competitive renter-occupied presence in the metro and diversified nearby employers aid demand
- Forecast rent growth offers pricing opportunity where renovations add clear value
- Risks: neighborhood occupancy ranks lower among metro areas and affordability pressure requires careful lease management