| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 36th | Poor |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1078 NE 39th St, Oakland Park, FL, 33334, US |
| Region / Metro | Oakland Park |
| Year of Construction | 1974 |
| Units | 31 |
| Transaction Date | 2007-12-20 |
| Transaction Price | $1,750,000 |
| Buyer | PALM GROVE APARTMENTS LLC |
| Seller | VESHINA LLC |
1078 NE 39th St Oakland Park Multifamily Asset
Neighborhood occupancy of 92.5% signals durable renter demand, according to WDSuite’s CRE market data, with a sizable renter-occupied share supporting leasing depth in this inner-suburban Broward location.
Situated in Oakland Park within the Fort Lauderdale–Pompano Beach–Sunrise metro, the neighborhood rates competitive among 345 metro neighborhoods (ranked 83rd), reflecting solid fundamentals for workforce-oriented multifamily. Amenity access is a core strength: restaurant density sits in the 97th percentile nationally, pharmacies in the 95th, childcare in the 94th, and groceries in the 85th, supporting daily convenience and lease retention.
Renter concentration is elevated, with 56.7% of housing units renter-occupied in the neighborhood, indicating a deep tenant base for multifamily assets. Neighborhood occupancy is 92.5% and has improved over the past five years, suggesting stable demand through cycles. Median contract rent in the neighborhood is $1,385 with meaningful five-year growth, signaling established pricing power without indicating luxury positioning.
Within a 3-mile radius, demographics show a steady population with a recent increase in households and smaller average household sizes over time, translating into a broader renter pool and demand for smaller formats. Looking ahead, 3‑mile forecasts call for additional household growth, which should support occupancy stability and absorption even amid new supply.
Home values in the neighborhood are elevated relative to incomes (value-to-income ratio in the 90th percentile nationally and median values above many U.S. areas). In investor terms, this high-cost ownership landscape tends to reinforce reliance on rental housing, aiding tenant retention and supporting sustained multifamily demand.
Safety conditions should be underwritten with care. Compared with 345 metro neighborhoods, the area’s crime rank is 264th, indicating it sits below the metro median for safety. Nationally, the neighborhood scores below average on safety percentiles, though recent data show a one‑year decline in property offenses, an improving directional trend worth monitoring.
Investors may view the recent drop in property offenses as a constructive signal, but underwriting should reflect neighborhood‑level variability and incorporate appropriate security, lighting, and resident‑engagement measures as part of the operating plan.
Proximity to major employers supports a diversified renter base and commute convenience, with concentrations in automotive retail headquarters, healthcare services, office supplies, pharmaceuticals, and materials.
- AutoNation — automotive retail (3.8 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (12.7 miles)
- Office Depot — office supplies (15.8 miles) — HQ
- Johnson & Johnson — pharmaceuticals (21.3 miles)
- Mosaic — materials & fertilizers (25.0 miles)
This Oakland Park asset benefits from neighborhood fundamentals that favor stable multifamily operations: above-median standing within the metro, a renter-occupied share near 57% that deepens the tenant pool, and strong amenity access that supports retention. According to CRE market data from WDSuite, neighborhood occupancy sits at 92.5% and has trended upward over five years, aligning with a high-cost ownership market where elevated home values help sustain rental demand.
Within a 3-mile radius, household counts have been rising and are projected to continue increasing, while smaller household sizes point to durable demand for apartment living. Balanced rent levels with demonstrated growth suggest continued pricing power, though lease management should account for rent-to-income affordability pressure and local safety considerations.
- Competitive neighborhood standing in the Fort Lauderdale–Pompano Beach–Sunrise metro supports investor confidence
- 92.5% neighborhood occupancy with five-year improvement underpins leasing stability
- Elevated home values reinforce reliance on rental housing and tenant retention
- 3‑mile household growth and smaller household sizes expand the renter pool over time
- Risks: below-average safety metrics and affordability pressure require prudent underwriting and active management