| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 22nd | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1300 NW 2nd Ave, Pompano Beach, FL, 33060, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1988 |
| Units | 22 |
| Transaction Date | 2010-07-28 |
| Transaction Price | $475,000 |
| Buyer | ONTO POMPANO VIII LLC |
| Seller | 1300 POMPANO LLC |
1300 NW 2nd Ave Pompano Beach Multifamily Asset
Renter demand is supported by a high neighborhood renter-occupied share and a 1988 vintage that is newer than nearby stock, according to WDSuite’s CRE market data. Expect durable workforce appeal with value-add potential rather than trophy pricing.
Situated in an Inner Suburb pocket of Pompano Beach with a neighborhood rating of C+, the area ranks 235 out of 345 metro neighborhoods. For investors, that places fundamentals below the metro median but with identifiable drivers to underwrite, rather than a purely discretionary location.
Amenities are competitive among Fort Lauderdale-Pompano Beach-Sunrise neighborhoods: overall amenity access ranks 100 of 345, with cafes and parks performing particularly well versus peers and sitting in the top quartile nationally for density. Restaurant options also track strong by national comparison, while pharmacy access is limited locally. These dynamics support daily convenience for residents, though some errands may require short drives.
Neighborhood occupancy has trended upward over the past five years, and renter concentration is structurally high (renter-occupied share ranks 15 of 345 — among the highest in the metro), which points to a deep tenant base and steady leasing cadence. Median contract rents in the neighborhood are mid-market and have risen over the last five years, suggesting room for value-oriented positioning rather than top-of-market premiums.
Within a 3-mile radius, population and household counts have grown and are projected to continue increasing through 2028, expanding the renter pool and supporting occupancy stability. At the same time, this is a high-cost ownership market relative to incomes (value-to-income ratio sits near the top of national comparisons), which tends to reinforce reliance on multifamily rentals and can aid lease retention. Investors should still manage rent-to-income ratios carefully to balance pricing power with retention risk.
The property’s 1988 construction is newer than the neighborhood’s average 1975 vintage, offering relative competitiveness versus older stock while leaving room for targeted updates to common areas, exteriors, or building systems to enhance NOI.
Safety trends should be evaluated thoughtfully. The neighborhood ranks 297 out of 345 metro neighborhoods on crime, placing it below the metro average, and national percentiles indicate lower comparative safety. However, property offenses have eased year over year, indicating some recent improvement. Investors should incorporate security measures and operating protocols into underwriting and plan for resident communications and lighting/monitoring as part of standard value-add scopes.
Nearby employment centers span corporate headquarters and regional offices that underpin renter demand through commute convenience and a diverse services base. The list below highlights prominent employers within a reasonable drive that align with workforce housing demand.
- AutoNation — corporate offices (8.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — corporate offices (10.5 miles)
- Office Depot — corporate offices (11.0 miles) — HQ
- Johnson & Johnson — corporate offices (25.8 miles)
- Mosaic — corporate offices (29.8 miles)
This 1988-vintage, 22-unit asset offers relative age advantage versus the neighborhood’s older stock, positioning it well for pragmatic upgrades to drive rent lift without overextending capex. A high neighborhood renter-occupied share supports demand depth, while nearby corporate employment nodes provide a steady pool of tenants seeking commute-friendly housing. Based on CRE market data from WDSuite, neighborhood occupancy has improved over the past five years, reinforcing a case for stable operations with operational upside from targeted renovations and leasing execution.
Macro context is a mixed but workable setup: within a 3-mile radius, population and households are growing and are projected to expand further, enlarging the tenant base; at the same time, elevated ownership costs bolster rental reliance. Underwriting should account for local affordability pressure and safety considerations through conservative rent growth, attention to rent-to-income ratios, and modest reserves for security enhancements.
- Newer-than-neighborhood vintage (1988) creates competitive positioning and practical value-add pathways
- High renter-occupied share indicates a deep tenant base and supports leasing stability
- Access to regional employers supports workforce demand and retention
- Demographic expansion within 3 miles supports occupancy durability over the medium term
- Risks: affordability pressure and below-metro-average safety warrant conservative underwriting and operational mitigations