| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 62nd | Good |
| Amenities | 48th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 SW 16th St, Pompano Beach, FL, 33060, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1974 |
| Units | 47 |
| Transaction Date | 2012-09-05 |
| Transaction Price | $2,600,000 |
| Buyer | PALM COURT INVESTMENTS LLC |
| Seller | AMAKEN INC |
115 SW 16th St Pompano Beach Multifamily Investment
Neighboring fundamentals point to steady renter demand and near-metro-median occupancy, according to WDSuite’s CRE market data. Strength in nearby dining and grocery options supports leasing durability while ownership costs in Broward County continue to favor long-term renting.
Positioned in an inner-suburb pocket of Pompano Beach, the neighborhood rates B and sits above the metro median overall (rank 149 of 345). Dining access is a relative strength — restaurant density tracks among the top national performers — and grocery availability is similarly competitive, which typically supports day-to-day convenience and resident retention.
On the housing side, neighborhood occupancy trends are near the metro middle, suggesting stable baseline demand for workforce-oriented rentals. Renter concentration is roughly one-third of housing units, indicating a meaningful tenant base without being overly saturated with rentals — a profile that can support consistent leasing while limiting turnover volatility.
Within a 3-mile radius, recent years show moderate population growth alongside a faster increase in households and a gradual shift toward smaller average household sizes. For investors, that points to a broader tenant pool and steady absorption potential for smaller-format units. Median contract rents have trended upward in the area, and the neighborhood’s rent-to-income levels suggest manageable affordability pressure, which can aid lease retention with disciplined renewal strategies.
Trade-offs include limited park, pharmacy, and cafe density within the immediate neighborhood and below-average public school ratings compared to national benchmarks. Even so, access to daily necessities and employment corridors across the Fort Lauderdale–Pompano Beach–Sunrise metro remains a draw, and the area’s elevated home values versus incomes reinforce reliance on rental housing in this submarket.
Safety indicators in this neighborhood trend below national averages, and the area ranks in the lower half among 345 metro neighborhoods. Recent year-over-year data shows a noticeable uptick in reported offenses, so underwriting should incorporate conservative assumptions for security measures and operating reserves. That said, conditions can vary block to block, and investors often mitigate risk through lighting, access control, and resident engagement.
Compared with neighborhoods nationwide, the local safety profile sits in a lower percentile, while within the Fort Lauderdale–Pompano Beach–Sunrise metro it tracks below the metro average. Monitoring trendlines and coordinating with local property management on preventative measures is advisable when planning capex and NOI protections.
The property is positioned for commuter access to a diversified employment base spanning automotive retail headquarters, healthcare services, office supplies, healthcare products, and logistics — supportive of workforce housing demand and retention.
- AutoNation — automotive retail (6.3 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (11.6 miles)
- Office Depot — office supplies (13.4 miles) — HQ
- Johnson & Johnson — healthcare products (23.7 miles)
- Ryder System — logistics (28.6 miles) — HQ
This 47-unit asset benefits from steady neighborhood demand dynamics and access to diverse employment centers. Neighborhood occupancy sits around the metro middle, while elevated ownership costs in Broward County and rising household counts within a 3-mile radius point to a larger tenant base and durable leasing. According to CRE market data from WDSuite, local rent levels have advanced over the past five years, and rent-to-income levels indicate manageable affordability pressure that can support renewal capture with disciplined pricing.
Amenities tilt toward strong dining and grocery access, though limited parks and cafe density, softer school ratings, and below-average safety metrics warrant prudent operating and capex planning. The result is a pragmatic workforce-oriented thesis centered on occupancy stability, retention, and targeted value creation through unit finishes and property operations.
- Diverse employer access and day-to-day convenience support leasing and retention
- Neighborhood occupancy near metro median with expanding 3-mile renter pool
- Elevated for-sale housing costs reinforce long-term renter reliance
- Manageable rent-to-income backdrop enables disciplined renewal growth
- Risks: below-average safety, limited parks/cafes, and softer school ratings