| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 26th | Poor |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3001 NW 35th Ave, Lauderdale Lakes, FL, 33311, US |
| Region / Metro | Lauderdale Lakes |
| Year of Construction | 1972 |
| Units | 52 |
| Transaction Date | 2011-12-21 |
| Transaction Price | $1,750,000 |
| Buyer | PALM TOWERS ROYAL LLC |
| Seller | ROYAL PALM APARTMENT LLC |
3001 NW 35th Ave Lauderdale Lakes Multifamily Investment
The surrounding neighborhood shows a high renter concentration (about 59% of housing units are renter-occupied), supporting depth of tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends and broad-based renter reliance point to steady leasing fundamentals rather than outsized volatility.
Positioned in Lauderdale Lakes within the Fort Lauderdale-Pompano Beach-Sunrise metro, the property sits in a neighborhood rated C and classified as Urban Core. Among 345 metro neighborhoods, it performs above the metro median on housing fundamentals while trailing on demographics, indicating solid rental dynamics with room for improvement on longer-term socioeconomic drivers.
Everyday convenience is a clear strength: grocery and pharmacy access rank in the upper tiers nationally, while restaurants are competitive relative to peers. By contrast, cafes and parks are sparse within the immediate neighborhood. For investors, this mix supports practical livability that helps retention, even if lifestyle amenities are not a primary draw.
Rents in the neighborhood sit above national medians (top-third nationally) and have grown meaningfully over the past five years, reflecting durable demand. Neighborhood occupancy is closer to the middle of national distributions, suggesting stable but not peak-tight conditions. Home values are elevated relative to incomes (upper-decile nationally for value-to-income), which tends to reinforce reliance on rental housing and supports sustained renter demand.
The asset’s 1972 vintage is older than the neighborhood’s average 1979 construction year. That age profile points to potential value-add through targeted renovations and building systems updates, balanced with capital expenditure planning to remain competitive against newer stock.
Demographic statistics are aggregated within a 3-mile radius: recent years show modest population growth and a notable increase in households, with forecasts indicating continued expansion through 2028. A larger household base and slightly smaller average household sizes should broaden the renter pool and support occupancy stability for well-positioned multifamily assets.
Safety metrics for the neighborhood trail many Fort Lauderdale metro neighborhoods (ranked in the lower tier among 345), and the area sits below national averages for safety. Investors should underwrite accordingly, emphasizing on-site security, lighting, and community engagement to support resident confidence and retention.
Recent trends are mixed: estimated property crime has declined year over year, while estimated violent offense rates increased over the same period. Monitoring trajectory at the neighborhood level and aligning operations with local best practices can help mitigate risk without over-relying on short-term fluctuations.
The area draws from a diverse employment base with nearby corporate offices that support commuter convenience and multifamily demand, including AutoNation, Tenet Healthcare, Office Depot, Johnson & Johnson, and Ryder System.
- AutoNation — automotive retail (4.3 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (11.0 miles)
- Office Depot — office supplies retail (17.2 miles) — HQ
- Johnson & Johnson — healthcare & consumer products (19.0 miles)
- Ryder System — logistics & transportation (23.6 miles) — HQ
This 52-unit, 1972-vintage property in Lauderdale Lakes benefits from a renter-oriented neighborhood where rental housing comprises a majority share of occupied units. Elevated ownership costs relative to incomes in the area help sustain demand for multifamily, while neighborhood occupancy sits near mid-range levels, indicating steady leasing with measured pricing power rather than peak-tight conditions. Based on CRE market data from WDSuite, rent levels are above national medians and have shown durable growth, supporting a thesis centered on cash flow stability and selective renovation.
The older vintage versus neighborhood norms suggests value-add potential through unit upgrades and building system improvements to strengthen competitive positioning against newer properties. At the same time, investors should plan for affordability pressure (given higher rent-to-income ratios) and monitor local safety trends, aligning asset management with resident expectations to support retention.
- Renter-reliant neighborhood supports depth of tenant demand and steady leasing.
- Above-national rent positioning with sustained growth underpins income stability.
- 1972 vintage offers value-add and systems-upgrade upside to enhance competitiveness.
- Diverse nearby employers bolster commute convenience and retention potential.
- Risks: affordability pressure and below-average safety require thoughtful underwriting and operations.