| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 14th | Poor |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1520 NW 17th Ave, Pompano Beach, FL, 33069, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 2002 |
| Units | 94 |
| Transaction Date | --- |
| Transaction Price | $339,000 |
| Buyer | POMPANO BEACH LEASED HSNG ASSOCIATED II |
| Seller | REGENCY GARDENS APARTMENTS LTD |
1520 NW 17th Ave Pompano Beach Multifamily Investment
Stabilized renter demand in an inner-suburban Broward pocket, with neighborhood occupancy around 93% and a deep renter pool supporting leasing durability, according to WDSuite’s CRE market data.
Situated in Pompano Beach’s inner suburbs of the Fort Lauderdale-Pompano Beach-Sunrise metro, the neighborhood scores competitive on amenities (ranked 115 among 345 metro neighborhoods), with grocery, childcare, and cafés registering above national averages by percentile. Park access is limited, which may modestly reduce recreation appeal but typically has a smaller impact on renter decisioning than proximity to daily needs.
For multifamily fundamentals, neighborhood occupancy is 93.2% with a positive five-year trend, indicating steady absorption and retention. Renter-occupied housing accounts for a high share of units (58.9%; 93rd percentile nationally), signaling a deep tenant base and resilient demand for professionally managed rentals.
Within a 3-mile radius, households have increased over the past five years and are projected to expand further by 2028, pointing to a larger tenant base and potential support for occupancy stability and leasing velocity. Population growth is expected to resume, while average household size trends slightly smaller—factors that often broaden demand for multifamily units.
Ownership costs in the neighborhood sit on the higher side relative to incomes (value-to-income metrics trend in the upper national percentiles), and home values are above the national midpoint. This high-cost ownership market tends to sustain reliance on rental housing, though a rent-to-income ratio around 0.30 suggests some affordability pressure, warranting attentive lease management and renewal strategies.
Safety indicators are mixed. The neighborhood’s crime position ranks 254 out of 345 metro neighborhoods, placing it below the metro median, and national safety percentiles are on the lower side. However, property offenses show improvement with an estimated one-year decline, indicating some recent easing in non-violent incidents. Investors should underwrite to local conditions and property-level controls rather than block-level assumptions.
Nearby employers anchor a diverse white-collar and services base that supports commuter convenience and renter retention, including AutoNation, Tenet Healthcare, Office Depot, and Johnson & Johnson.
- AutoNation — automotive retail HQ (8.8 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (9.1 miles)
- Office Depot — office supplies HQ (10.9 miles) — HQ
- Johnson & Johnson — pharmaceuticals & consumer health offices (25.5 miles)
Built in 2002, this 94-unit asset is materially newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while leaving room for targeted modernization to enhance appeal and rents. The immediate area shows durable renter demand: neighborhood occupancy is about 93% with a five-year uptick, and renter-occupied share is high, supporting tenant depth and steady leasing. According to CRE market data from WDSuite, amenity access is competitive within the metro while ownership costs trend elevated versus incomes—factors that reinforce multifamily reliance.
Within a 3-mile radius, households have grown and are projected to expand further, implying a larger tenant base and support for occupancy stability. Affordability metrics suggest some pressure (rent-to-income near 0.30), so proactive lease management and value-forward renovations may be prudent. Safety indicators are below metro norms but show recent improvement in property offenses; underwriting should reflect ongoing operating controls and security investments.
- 2002 vintage provides competitive positioning versus older local stock, with selective renovation upside
- Neighborhood occupancy ~93% and rising over five years supports leasing stability
- High renter-occupied share signals deep tenant base and demand durability
- Amenity access competitive in metro; elevated ownership costs tend to sustain rental demand
- Risks: below-median safety ranks and renter affordability pressure require active management