| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Poor |
| Demographics | 12th | Poor |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4510 NW 36th St, Lauderdale Lakes, FL, 33319, US |
| Region / Metro | Lauderdale Lakes |
| Year of Construction | 1972 |
| Units | 63 |
| Transaction Date | 2003-03-27 |
| Transaction Price | $12,900,000 |
| Buyer | ENCLAVE HILLS LLC |
| Seller | YMP WHISPERING PALMS LLC |
4510 NW 36th St, Lauderdale Lakes Multifamily Investment
Workforce-oriented location with a deep renter base and everyday amenities nearby supports demand durability, according to WDSuite’s CRE market data, with potential to enhance performance through targeted renovations.
The property sits in an Urban Core pocket of Lauderdale Lakes within the Fort Lauderdale–Pompano Beach–Sunrise metro, where daily-needs access is a strength. Neighborhood amenity density is competitive among 345 metro neighborhoods for groceries and pharmacies, and cafes score in the top quartile nationally, reinforcing convenience that supports leasing and retention.
Neighborhood renter concentration is elevated (renter-occupied share ranks in the top quartile nationally), indicating a broad tenant base for multifamily operators. By contrast, neighborhood occupancy is below national averages; investors should underwrite to conservative lease-up and renewal assumptions while focusing on operations that stabilize occupancy.
Within a 3-mile radius, demographics point to a larger tenant base over time: recent population growth and a notable increase in households, with forecasts calling for further population gains and more households by mid-decade. This combination typically supports renter pool expansion and steadier absorption, even as average household size trends modestly lower.
Home values in the neighborhood sit near the national middle, while rents have trended upward over five years. This creates a high-cost ownership environment relative to local incomes that can sustain multifamily demand, though rent-to-income levels suggest some affordability pressure that warrants attentive lease management and renewal strategies.
Parks and restaurant density measure low within the immediate neighborhood boundary; however, the broader metro’s employment and recreation nodes are accessible by short drives, which helps balance livability factors for renters seeking value.
Safety indicators for the neighborhood are below national medians, and the area ranks below the metro median among 345 neighborhoods. Even so, recent trends show improvement in property-related offenses on a year-over-year basis, suggesting some easing in incident rates. Investors should incorporate prudent security, lighting, and resident-engagement measures into underwriting and asset plans.
Proximity to regional employers underpins workforce housing demand and commute convenience, including automotive retail, healthcare services, office supplies distribution, healthcare products, and logistics. These job centers can support leasing velocity and retention for a value-focused asset.
- AutoNation — automotive retail (5.36 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (10.16 miles)
- Office Depot — office supplies & corporate offices (17.06 miles) — HQ
- Johnson & Johnson — healthcare products (19.12 miles)
- Ryder System — logistics & fleet management (23.46 miles) — HQ
Built in 1972, the 63-unit asset offers value-add potential through interior updates and system modernization to improve competitiveness versus newer stock while managing capital exposure. The neighborhood shows elevated renter-occupied share and strong access to daily-needs amenities, supporting a stable tenant base. While neighborhood occupancy trends below national norms, recent household growth within a 3-mile radius and proximity to regional employers point to resilient demand for well-positioned multifamily. Based on CRE market data from WDSuite, underwriting should prioritize operational improvements that drive occupancy stability and retention over aggressive rent growth assumptions.
Forward-looking demographics indicate population growth and an increase in households in the surrounding area, which can support absorption and reduce downtime as units are renovated. Ownership costs near the national middle reinforce renter reliance on multifamily housing, though rent-to-income levels suggest thoughtful pricing and renewal management to sustain performance.
- Workforce location with high renter concentration and everyday amenities supports tenant demand
- 1972 vintage provides practical value-add levers via interior and building-system upgrades
- 3-mile radius shows population and household growth, bolstering renter pool expansion
- Employer proximity (auto retail, healthcare, logistics) aids leasing velocity and retention
- Risks: below-median neighborhood occupancy and safety metrics require conservative underwriting and active asset management