| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 31st | Poor |
| Amenities | 52nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6840 Pembroke Rd, Miramar, FL, 33023, US |
| Region / Metro | Miramar |
| Year of Construction | 1974 |
| Units | 34 |
| Transaction Date | 2024-03-28 |
| Transaction Price | $6,400,000 |
| Buyer | TANGO-76 GROUP LLC |
| Seller | 6840 PEMBROKE LLC |
6840 Pembroke Rd, Miramar FL Multifamily Value-Add
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data, with positioning suited for pragmatic upgrades to enhance returns.
Miramar’s Urban Core location provides everyday convenience for tenants, with restaurant and café density running above national norms and grocery access competitive for the metro. The trade-off is limited neighborhood parks and pharmacies in the immediate area, which may modestly affect lifestyle appeal for some residents.
At the neighborhood level (not the property), occupancy is strong and has trended higher over five years, placing the area competitive among Fort Lauderdale–Pompano Beach–Sunrise neighborhoods and in the top quartile nationally. Renter-occupied housing represents roughly one-third of units locally, indicating a stable but not overly saturated renter base that can support consistent leasing for smaller buildings.
Within a 3‑mile radius, demographics show population growth alongside an increase in households, pointing to a larger tenant base over time. Rising household incomes and a projected step-up in median incomes strengthen the outlook for rent collections and retention, while forecast rent levels suggest continued demand for well-located workforce housing.
For investors, the ownership landscape skews toward a higher-cost market: home values stand above national averages and the value‑to‑income ratio is a top‑quartile national reading. This typically reinforces reliance on multifamily rentals and can support pricing power and lease stability, while the neighborhood’s rent‑to‑income ratio suggests manageable affordability pressure that helps retention.
Safety indicators for the neighborhood track around the national middle, with crime measures near the 50th percentile nationwide. Recent trends show a decline in violent incidents year over year, which is a constructive directional signal relative to broader patterns.
Compared with other neighborhoods in the Fort Lauderdale–Pompano Beach–Sunrise metro (345 total), the area reads as roughly average on property and violent offense exposure. Investors should view conditions as stable for an urban core location, while monitoring local policing and community initiatives for continued improvement.
Proximity to a diversified employment base supports renter demand and commute convenience, including healthcare products, auto retail, logistics, chemicals, and energy services.
- Johnson & Johnson — healthcare products (7.7 miles)
- AutoNation — auto retail (10.0 miles) — HQ
- Ryder System — logistics (13.2 miles) — HQ
- Mosaic — chemicals (14.2 miles)
- World Fuel Services — energy (15.0 miles) — HQ
Built in 1974, the asset is modestly older than nearby inventory and presents a straightforward value‑add path through unit renovations and systems upgrades, balanced against manageable capex planning. At the neighborhood level (not the property), occupancy is high and historically resilient, and according to CRE market data from WDSuite it sits above national norms—supportive of stable leasing for a 34‑unit building with efficient average floor plans.
Demand is reinforced by a higher‑cost ownership market that sustains reliance on rentals, while a measured rent‑to‑income profile aids retention and collections. Within a 3‑mile radius, household counts are expanding alongside income gains, indicating a gradually deepening renter pool that can absorb renovated units and support rent premiums for improved finishes.
- Occupancy at the neighborhood level trends strong and above national norms, supporting leasing stability.
- 1974 vintage allows value‑add through interior updates and targeted building systems improvements.
- High‑cost ownership market reinforces rental demand and pricing power for well‑located units.
- Expanding household base within 3 miles supports a deeper tenant pool and renovated‑unit absorption.
- Risks: limited nearby parks/pharmacies and average safety profile warrant conservative underwriting and ongoing monitoring.