| 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 | 1973 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3400 NW 29th St Lauderdale Lakes Workforce Multifamily
Neighborhood fundamentals point to durable renter demand and everyday convenience, according to WDSuite’s CRE market data, with high renter-occupied share and strong grocery/pharmacy access supporting leasing stability at the submarket level.
Located at 3400 NW 29th St in Lauderdale Lakes, the property sits in an Urban Core neighborhood within the Fort Lauderdale–Pompano Beach–Sunrise metro that is above the metro median for housing quality and amenity access. Grocery and pharmacy density ranks in the upper tiers nationally, while restaurants are also comparatively plentiful. By contrast, parks and cafes are limited locally, which investors should factor into marketing and resident-experience strategies.
Renter-occupied housing concentration in the neighborhood is elevated (59% of housing units), indicating a deep tenant base for multifamily operators. Neighborhood occupancy is tracked at the area level and sits below the metro median, but the combination of high renter concentration and everyday retail access helps underpin demand for workforce housing. Median contract rents in the neighborhood have risen over the last five years, and neighborhood NOI per unit trends are competitive versus national medians, based on CRE market data from WDSuite.
The asset’s 1973 vintage is older than the neighborhood’s average construction year. For investors, that typically points to capital planning needs around systems and interiors, alongside potential value‑add and repositioning upside to sharpen competitive standing against newer stock.
Demographic statistics are aggregated within a 3‑mile radius and indicate steady population growth historically with a projected increase over the next five years, alongside a notable rise in household counts and slightly smaller average household sizes. This combination supports a larger tenant base and can aid occupancy stability and lease-up velocity for well-managed, competitively priced units.
Homeownership remains a higher‑cost pathway relative to local incomes in this metro context (value‑to‑income metrics are elevated), which tends to sustain reliance on rental housing. At the same time, rent-to-income in the neighborhood signals affordability pressure for some renter cohorts, suggesting prudent lease management and amenity-to-price alignment will be important for retention.
Safety conditions are mixed when compared with both the metro and national landscape. The neighborhood’s overall crime positioning is below the metro average among 345 Fort Lauderdale–Pompano Beach–Sunrise neighborhoods, and it sits in a lower national safety percentile. Investors should underwrite with conservative expectations for security features and community engagement.
On a positive note, recent area data indicate that property offenses have declined year over year, performing above the national median for improvement. This directional trend can support resident retention and marketing narratives, though ongoing monitoring remains prudent.
Nearby employers provide a diversified white‑collar and healthcare employment base that supports renter demand and commute convenience, including AutoNation, Tenet Healthcare, Office Depot, Johnson & Johnson, and Ryder System.
- AutoNation — corporate HQ and automotive retail (4.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (11.2 miles)
- Office Depot — corporate HQ and office supplies (17.3 miles) — HQ
- Johnson & Johnson — pharmaceuticals and consumer health (18.9 miles)
- Ryder System — logistics and transportation (23.5 miles) — HQ
This 120‑unit, 1973 workforce asset in Lauderdale Lakes is positioned in a renter‑heavy neighborhood with strong daily‑needs access (groceries, pharmacies) and a diverse employment base within short commuting distance. While neighborhood occupancy is measured at the area level and tracks below the metro median, elevated renter concentration and projected household growth within a 3‑mile radius point to persistent tenant demand. According to CRE market data from WDSuite, neighborhood rent and NOI trends have been constructive over recent periods, suggesting well‑executed value‑add can compete effectively against newer stock.
Key considerations include affordability pressure signaled by local rent‑to‑income ratios and a safety profile that trails metro averages, both of which warrant disciplined operations, thoughtful amenity programming, and targeted security investments. Given its older vintage, a focused capital plan on interiors and building systems can unlock rent readiness and support retention.
- Elevated renter-occupied share supports a deep tenant base and demand resilience
- Strong daily-needs access (groceries, pharmacies) enhances leasing and retention
- 1973 vintage offers value-add and systems-upgrade opportunities to sharpen competitiveness
- Nearby corporate and healthcare employers underpin workforce housing demand
- Risks: below-metro safety and affordability pressure require disciplined pricing and security planning