| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 23rd | Poor |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5897 N Dixie Hwy, Oakland Park, FL, 33334, US |
| Region / Metro | Oakland Park |
| Year of Construction | 1973 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | $2,502,500 |
| Buyer | SZOKE FAMILY LTD PARTNERSHIP NO 1 L |
| Seller | LARRY F WITTE TR |
5897 N Dixie Hwy, Oakland Park Multifamily Investment
Neighborhood fundamentals point to durable renter demand and steady occupancy, according to WDSuite’s CRE market data, with positioning that favors efficient units in a commuter-friendly inner suburb of Fort Lauderdale.
The property sits in an Inner Suburb of the Fort Lauderdale–Pompano Beach–Sunrise metro with a neighborhood rating of C+. Neighborhood occupancy is 96.6% (neighborhood-level), placing it in the top quartile among 345 metro neighborhoods, which supports income stability for multifamily assets. Dining density is strong (restaurants test in the 97th percentile nationally) and grocery access is competitive, indicating day-to-day convenience that helps with lease retention.
Median home values in the neighborhood are elevated relative to local incomes (value-to-income ratio trends near the higher end nationally), which typically reinforces reliance on rental housing and supports pricing power for well-located properties. At the same time, rents have shown moderation in recent years at the neighborhood level, suggesting operators should emphasize resident retention and targeted renewals over outsized growth expectations.
Within a 3-mile radius, demographics show modest population growth over the last five years and a projected increase in households by 2028, alongside smaller average household sizes. This points to a larger tenant base and steady absorption of smaller-format units, aligning with workforce demand patterns. Roughly four in ten housing units within this radius are renter-occupied, indicating adequate depth in the local renter pool.
School options in the neighborhood rate below national averages and childcare access is limited, which may temper appeal for some family renters. However, the inner-suburban location, transit connectivity along N Dixie Hwy, and a broad amenity mix provide livability advantages for singles and couples seeking proximity to employment centers.
Safety trends in the immediate neighborhood are weaker than both national and metro averages, with crime indicators ranking in the lower national percentiles and below the metro median (ranked 320 among 345 metro neighborhoods). Recent estimates also indicate year-over-year increases in both property and violent offenses at the neighborhood level. Investors typically account for this with enhanced site security, lighting, and insurance planning, and by prioritizing resident screening and on-site management visibility.
As always, crime patterns can vary by block and over time. A property-level assessment and trend review relative to competitive assets in the Fort Lauderdale area can clarify how localized safety conditions may affect leasing velocity and operating expenses.
Proximity to major employers supports renter demand and commuting convenience, with a mix of automotive retail headquarters, healthcare administration, office supplies corporate, pharma/medtech, and logistics. The following nearby employers anchor the area’s white-collar and operations workforce:
- AutoNation — automotive retail HQ (5.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (11.6 miles)
- Office Depot — office supplies corporate (14.1 miles) — HQ
- Johnson & Johnson — pharma/medtech offices (22.8 miles)
- Ryder System — logistics and transportation (27.7 miles) — HQ
Built in 1973, this 52-unit asset skews older than much of the recently delivered stock, creating an avenue for targeted value-add through unit modernization and building system upgrades. Neighborhood occupancy remains strong and in the top quartile locally, supporting cash flow durability, while elevated ownership costs relative to incomes point to sustained renter reliance on multifamily housing. Based on commercial real estate analysis from WDSuite, the submarket’s dense amenity base and proximity to major employers underpin steady leasing for efficient units.
Within a 3-mile radius, households have grown and are projected to continue increasing by 2028 as average household size trends smaller—conditions that can expand the renter pool for studios and compact floor plans. Operators should balance this demand backdrop with prudent expense planning given neighborhood safety readings and resident affordability considerations around rent-to-income levels.
- Strong neighborhood occupancy supports income stability relative to metro peers.
- 1973 vintage offers value-add potential via interior updates and system improvements.
- Elevated ownership costs reinforce renter demand and retention prospects.
- Employer proximity and dense amenities aid leasing for smaller-format units.
- Risks: weaker neighborhood safety readings and affordability pressure require active management.