| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 30th | Poor |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4844 NW 24th Ct, Lauderdale Lakes, FL, 33313, US |
| Region / Metro | Lauderdale Lakes |
| Year of Construction | 1972 |
| Units | 111 |
| Transaction Date | 2014-07-10 |
| Transaction Price | $5,130,000 |
| Buyer | SP CARAVEL APARTMENTS LLC |
| Seller | SRK CARAVEL ARMS ASSOCIATES LIMITED PART |
4844 NW 24th Ct, Lauderdale Lakes Multifamily Investment
Neighborhood occupancy has trended upward and rents remain relatively attainable, according to WDSuite’s CRE market data, supporting stable demand for a 111-unit asset in Broward County.
The property sits in an Inner Suburb of the Fort Lauderdale–Pompano Beach–Sunrise metro where neighborhood livability is mixed but improving. Childcare and pharmacy access test above national norms (childcare and pharmacy densities are in higher national percentiles), while cafes, groceries, and parks are limited locally. School quality in the neighborhood rates below average versus national peers, which can influence family renter preferences, but many investors view the area as workforce-oriented with practical access to daily services.
From a housing perspective, neighborhood median contract rents rank lower within the metro (303rd out of 345 neighborhoods), yet sit around the mid‑60s percentile nationally—positioning the area as comparatively attainable versus many U.S. neighborhoods. Occupancy in the neighborhood is below the metro median (ranked 301st of 345) but has improved over the past five years, which can support leasing stability if that trend persists.
Tenure patterns within a 3‑mile radius show a meaningful renter-occupied presence (about four in ten housing units), indicating a sizable tenant base for multifamily. Demographically, the 3‑mile area has seen population and household growth in recent years, with forecasts calling for additional increases by 2028. A growing household count and slightly smaller average household size together point to a larger renter pool over time, which can help sustain occupancy.
Home values in the neighborhood sit below national medians (around the low‑30s percentile nationally). In investor terms, a more accessible ownership market can introduce some competition with entry-level ownership; however, rent-to-income measures trend comparatively manageable (around the low‑teens percentile nationally for rent burden), which supports resident retention and measured pricing power when paired with ongoing renter demand.
Safety metrics are mixed. The neighborhood’s crime rank sits somewhat below the metro average (157th of 345, where lower ranks indicate higher crime), suggesting investors should underwrite prudent security and operating practices. Nationally, the area performs in the lower percentiles for violent incidents but closer to middle-of-the-pack for property offenses.
A constructive signal: estimated property offense rates have declined year over year, ranking in a stronger improvement tier metro‑wide and landing in a higher national percentile for improvement. Investors often view this kind of directional change as supportive for leasing and renewal efforts, provided trends continue.
Nearby corporate employers provide a diversified employment base and commute convenience for renters, led by AutoNation, Tenet Healthcare, Office Depot, Johnson & Johnson, and Ryder System.
- AutoNation — automotive retail HQ and corporate offices (5.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (10.9 miles)
- Office Depot — corporate offices (18.1 miles) — HQ
- Johnson & Johnson — corporate offices (18.1 miles)
- Ryder System — logistics & transportation corporate offices (22.5 miles) — HQ
This Lauderdale Lakes asset benefits from a workforce renter base, attainable rents relative to national norms, and proximity to diversified employers across Broward and Miami‑Dade. Neighborhood occupancy sits below metro averages but has improved over the past five years, and population and household growth within a 3‑mile radius point to a larger tenant base over the medium term. According to CRE market data from WDSuite, local home values trend on the lower side nationally, which can introduce entry‑level ownership alternatives but also supports retention given comparatively manageable rent burdens.
Underwriting should account for uneven neighborhood amenity depth, below‑average school ratings, and mixed safety positioning at the metro level. Still, the combination of renter demand, improving property‑crime trends, and proximity to major employers provides a pragmatic foundation for a long‑term hold or value‑add plan focused on steady leasing and operational execution.
- Attainable rents versus national peers support broad renter demand and renewal potential
- Neighborhood occupancy trending upward, aiding leasing stability if maintained
- 3‑mile population and household growth expands the tenant base over time
- Proximity to major employers across Broward/Miami‑Dade underpins workforce housing demand
- Risks: below‑average school ratings, limited nearby amenities, and mixed safety metrics relative to the metro