| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Poor |
| Demographics | 42nd | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3540 NW 50th Ave, Lauderdale Lakes, FL, 33319, US |
| Region / Metro | Lauderdale Lakes |
| Year of Construction | 1985 |
| Units | 107 |
| Transaction Date | 2011-08-01 |
| Transaction Price | $14,100,000 |
| Buyer | HAWAIIAN PALMS LLC |
| Seller | GLENDALE PROPERTIES & INVESTMENTS INC |
3540 NW 50th Ave Lauderdale Lakes Multifamily Investment
Positioned in Broward County with steady renter demand, the 1985-vintage asset offers competitive positioning versus older neighborhood stock, according to WDSuite’s CRE market data. One clear takeaway: income performance at the neighborhood level is comparatively strong while on-site upgrades could further support leasing and retention.
Located in an inner-suburb setting of the Fort Lauderdale–Pompano Beach–Sunrise metro, the property benefits from regional employment depth and access to major corridors, but the immediate neighborhood shows limited walkable amenities (few cafes, grocers, parks, or pharmacies). For investors, this typically places more emphasis on on-site features, parking, and commute convenience to support lease-up and retention.
Relative performance indicators are mixed. Neighborhood-level NOI per unit ranks 45th out of 345 metro neighborhoods, placing it above the metro median and in the top quartile nationally. At the same time, neighborhood occupancy trends sit well below national norms, so underwriting should lean on the broader Broward demand pool rather than hyperlocal walkability. Construction year averages in the area skew older than the subject’s 1985 vintage, which can be a competitive edge if common-area and in-unit finishes are kept current.
Demographics aggregated within a 3-mile radius point to a growing renter pool: population and households have increased over the last five years, with forecasts calling for further household growth through 2028. Renter-occupied housing comprises roughly the mid-40% share of units in this radius, indicating a meaningful tenant base for multifamily and supporting occupancy stability over time.
Home values in the neighborhood context trend on the lower side relative to income, which can introduce some competition from ownership options. For multifamily investors, the implication is to differentiate on convenience, finishes, and management quality while maintaining rent levels that balance pricing power with lease retention, based on CRE market data from WDSuite.
Safety indicators are mixed relative to peers. The neighborhood’s safety rank sits around the middle of the 345 neighborhoods in the Fort Lauderdale–Pompano Beach–Sunrise metro, implying crime levels that are neither among the lowest nor the highest locally. Nationally, the area scores below the median for safety.
Recent momentum offers a constructive note for investors: property offense rates have declined year over year, while violent offense indicators ticked up. The directional takeaway is to monitor building security and lighting, coordinate with local resources, and reflect neighborhood trends in insurance and operating assumptions rather than relying on block-level conclusions.
Proximity to established corporate offices supports a broad workforce renter base and commute convenience. Notable nearby employers include AutoNation, Tenet Healthcare, Office Depot, Johnson & Johnson, and Ryder System.
- AutoNation — automotive retail HQ (5.7 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (10.0 miles)
- Office Depot — office supplies HQ (17.1 miles) — HQ
- Johnson & Johnson — healthcare products offices (19.1 miles)
- Ryder System — logistics & transportation HQ (23.4 miles) — HQ
This 107-unit, 1985-built property offers a value-add angle in a neighborhood where income performance metrics are relatively competitive despite limited immediate amenities. According to CRE market data from WDSuite, neighborhood NOI per unit outperforms many metro peers, suggesting room to capture durable cash flow if management focuses on unit modernization and operational execution.
Within a 3-mile radius, population and household growth, along with a substantial share of renter-occupied units, point to a larger tenant base over the medium term. Counterbalancing factors include below-average neighborhood occupancy levels, a high-cost rent-to-income profile in the neighborhood statistics, and more accessible ownership options nearby. Underwriting that prioritizes pragmatic rents, on-site convenience, and security upgrades should help sustain leasing and retention.
- 1985 vintage positions the asset competitively versus older local stock, with clear value-add potential through interior and systems updates.
- Neighborhood NOI per unit ranks above the metro median and in the national top quartile, supporting a cash-flow focus.
- 3-mile demographics indicate population and household growth, reinforcing depth of the renter pool and leasing velocity.
- Nearby corporate employers underpin workforce demand and commute convenience across Broward County.
- Risks: subpar neighborhood occupancy, car-dependent location, elevated rent-to-income ratios, and competition from ownership alternatives.