| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 26th | Poor |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3400 NW 29th St, Lauderdale Lakes, FL, 33311, US |
| Region / Metro | Lauderdale Lakes |
| Year of Construction | 1972 |
| Units | 64 |
| Transaction Date | 2007-01-31 |
| Transaction Price | $9,003,000 |
| Buyer | CANTERBURY SQUARE LLC |
| Seller | CANTERBURY ASSOCIATES LC |
3400 NW 29th St Lauderdale Lakes Multifamily Investment
Neighborhood fundamentals indicate durable renter demand supported by a high share of renter-occupied units and elevated ownership costs, according to WDSuite’s CRE market data. For investors, the takeaway is consistent tenant depth with pricing power balanced by careful lease management.
This Urban Core neighborhood in the Fort Lauderdale–Pompano Beach–Sunrise metro shows mixed but investable dynamics for multifamily. Grocery and pharmacy access test strong versus national peers, while restaurant density is competitive; parks and cafes are limited. These patterns point to daily convenience for residents with fewer recreational green-space amenities.
Occupancy at the neighborhood level sits below the metro median (ranked 229 out of 345 neighborhoods), but renter concentration is high — roughly 59% of housing units are renter-occupied, placing the area in the top decile nationally. For investors, that signals a deep tenant base supporting leasing and renewal activity even when absorption moderates.
Home values sit in a higher national percentile relative to local incomes (value-to-income ratio is in the upper tier nationally), indicating a high-cost ownership market that tends to reinforce reliance on rental housing. At the same time, rent-to-income levels imply affordability pressure for some households, which calls for proactive lease management and renewal strategies to support retention and collections.
Within a 3-mile radius, population has grown modestly with a faster increase in households and a gradual reduction in average household size. This combination points to a larger renter pool and supports occupancy stability for well-positioned properties, based on CRE market data from WDSuite.
The asset’s 1972 construction is older than the neighborhood’s average vintage (1979), which typically means planning for near- to medium-term capital projects. For value-add investors, upgrades to interiors, building systems, and curb appeal can enhance competitiveness against newer stock.
Safety trends are mixed and should be underwritten with care. At the metro level, this neighborhood ranks 276 out of 345 on crime, placing it below metro averages and below national percentiles for safety. That said, property offenses have declined year over year, an improvement directionally supported by WDSuite’s data.
Investors should frame this as a management and security planning consideration — positioning, resident screening, lighting and camera coverage, and community engagement can help mitigate perception and retention risks. Always compare block-level conditions during site tours to broader neighborhood trends.
Proximity to major employers supports a broad renter base and commute convenience, notably across automotive retail headquarters, healthcare services, office supplies, healthcare and consumer goods, and logistics. These anchors can aid leasing stability for workforce-oriented units.
- AutoNation — automotive retail (4.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (11.2 miles)
- Office Depot — office supplies (17.4 miles) — HQ
- Johnson & Johnson — healthcare & consumer goods (18.9 miles)
- Ryder System — logistics & transportation (23.4 miles) — HQ
This 64-unit property in Lauderdale Lakes combines scale with large average unit sizes and an older 1972 vintage that can suit a focused value-add plan. The surrounding neighborhood shows strong renter concentration and a high-cost ownership backdrop, helping sustain renter reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood occupancy trends are below the metro median, but the depth of the renter base and nearby employment anchors support ongoing leasing fundamentals when operations are actively managed.
Within a 3-mile radius, modest population growth alongside faster household growth suggests a widening tenant pool and support for occupancy stability. Affordability pressure is present, so underwriting should emphasize revenue management, renewal strategy, and cost-effective upgrades that elevate perceived value and reduce turnover risk.
- Deep renter base and high-cost ownership environment support sustained multifamily demand
- 64 units with larger floor plans create family-friendly layouts and potential pricing differentiation
- 1972 vintage offers clear value-add pathways through interior, systems, and curb-appeal upgrades
- Nearby corporate anchors broaden the renter pool and can aid leasing stability
- Risks: below-metro safety rankings and renter affordability pressure require active management and thoughtful underwriting