| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 33rd | Poor |
| Amenities | 48th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6000 NW 7th St, Margate, FL, 33063, US |
| Region / Metro | Margate |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | 2005-12-07 |
| Transaction Price | $1,275,000 |
| Buyer | GQI MARGATE LLC |
| Seller | GOLDEN GLOBAL EQUITY LLC |
6000 NW 7th St, Margate FL Multifamily Value-Add
Steady renter demand in an inner-suburban pocket with rising household incomes and expanding households supports consistent leasing, according to WDSuite’s CRE market data. A 1974 vintage positions this 24-unit asset for targeted renovations to enhance competitiveness while maintaining attainable rents.
Neighborhood dynamics and livability
The property sits in an inner-suburban area of Margate with everyday convenience driven by dining and service density. Neighborhood restaurant and cafe availability ranks among the stronger pockets in the metro and is high nationally, while childcare access is especially robust. By contrast, the immediate area shows fewer mapped groceries, parks, and pharmacies, so residents typically rely on nearby corridors for those needs. These dynamics can still support retention when paired with commute convenience and on-site amenities.
The renter-occupied share of housing units in the neighborhood is elevated versus national norms, indicating a deeper tenant base for multifamily operators. Neighborhood occupancy performance tracks near national mid-range levels; leasing generally benefits from steady demand rather than sharp swings, which helps support stabilized operations over a hold period.
Within a 3-mile radius, population and households have grown over the last five years and are projected to continue expanding, pointing to a larger tenant base over time. Median household incomes have also advanced, which, combined with rent-to-income levels near balanced ranges, can support lease-up and renewal velocity without overextending residents. In a high-cost ownership context for the region, elevated home values tend to sustain reliance on rental housing, reinforcing multifamily demand.
Vintage in this submarket skews to the late 1970s. With a 1974 construction year, this asset is slightly older than the neighborhood average (1977), creating a pragmatic value-add path: modernize interiors and systems as needed to compete with newer stock and capture incremental rent while managing capital exposure.
Safety context
Neighborhood-level indicators benchmark above the national median for overall safety, with violent offense metrics comparing favorably to many U.S. neighborhoods. Recent trends show a notable decline in violent incidents over the past year, which is a constructive signal for resident retention and leasing stability.
Property offense readings can be more variable year to year, so owners may want to calibrate site-level measures such as lighting, access control, and parking oversight. Taken together, the safety profile supports workforce-oriented multifamily, with routine operational vigilance appropriate for the Fort Lauderdale–Pompano Beach–Sunrise metro.
Employment anchors and commute access
Proximity to healthcare and corporate offices supports a broad renter pool and commute-friendly living. Nearby anchors include Tenet Healthcare, AutoNation, Office Depot, Johnson & Johnson, and Ryder System.
- Tenet Healthcare Corporation, Florida Region — healthcare services (6.5 miles)
- AutoNation — corporate offices (8.9 miles) — HQ
- Office Depot — corporate offices (12.7 miles) — HQ
- Johnson & Johnson — corporate offices (23.7 miles)
- Ryder System — corporate offices (27.8 miles) — HQ
Why invest
This 24-unit, 1974-vintage Margate asset fits steady, workforce-oriented demand fundamentals. The neighborhood’s elevated renter-occupied share points to depth in the tenant base, while 3-mile household and population growth expand the prospective renter pool. In a high-cost ownership market, sustained home values help reinforce rental reliance, supporting occupancy and renewal prospects. According to CRE market data from WDSuite, local leasing trends sit around national mid-range levels, giving operators room to create value through operations and targeted upgrades.
Given its slightly older vintage relative to the late-1970s neighborhood stock, the property presents a practical value-add strategy: refresh interiors and address building systems to improve competitive positioning versus newer product while maintaining attainable price points. Amenity access is strongest in dining and childcare, with some reliance on nearby corridors for groceries and parks—manageable with thoughtful leasing strategy and resident services.
- Expanding 3-mile household base supports a wider tenant pool and helps sustain occupancy
- Elevated renter-occupied share signals durable multifamily demand in the neighborhood
- 1974 vintage enables value-add via interior updates and targeted system improvements
- Dining and childcare density enhance day-to-day livability and retention
- Risks: fewer nearby groceries/parks and variable property offense readings call for operational vigilance