| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Poor |
| Demographics | 41st | Fair |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2900 NE 17th Ave, Pompano Beach, FL, 33064, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1987 |
| Units | 46 |
| Transaction Date | 2017-06-24 |
| Transaction Price | $6,250,000 |
| Buyer | L & H Land Corp |
| Seller | Oakshire Apartments LLC |
2900 NE 17th Ave Pompano Beach Multifamily Investment
Neighborhood occupancy sits near 91% with a slight multi‑year uptick, pointing to steady renter demand in this inner‑suburb pocket of Pompano Beach, according to WDSuite’s CRE market data. The property’s late‑1980s vintage offers competitive positioning versus older local stock while leaving room for targeted modernization.
Located in an inner‑suburb area of Pompano Beach, the neighborhood trends are mid‑pack within the Fort Lauderdale–Pompano Beach–Sunrise metro (ranked 245 out of 345). Occupancy in the neighborhood is around the national median and has inched higher over the past five years, which supports leasing stability for multifamily. Renter households account for a modest share locally, but the 3‑mile area shows a deeper renter‑occupied base at roughly two‑fifths of housing units, expanding the tenant pool for a 46‑unit asset.
Everyday convenience is a relative strength: restaurants and grocery access score in the top quartile nationally, and pharmacies are similarly strong. Park and café counts are limited in the immediate neighborhood, so lifestyle‑driven demand may rely more on broader metro amenities and coastal access rather than block‑level offerings.
Home values in the neighborhood sit above the national median and value‑to‑income metrics trend higher than average, indicating a high‑cost ownership market that can reinforce reliance on rentals and support retention. At the same time, rent‑to‑income levels track below national norms, suggesting manageable affordability pressure that can aid renewal rates and reduce turnover risk.
Within a 3‑mile radius, demographic statistics indicate recent population growth with additional household gains projected by 2028, implying a larger tenant base and potential renter pool expansion. These growth signals, combined with steady neighborhood occupancy, point to durable demand drivers for well‑maintained workforce units.
Neighborhood safety metrics are mixed relative to peers. The area ranks near the metro median (165 out of 345 neighborhoods) and sits below the national median on violent‑offense measures, indicating that investors should underwrite with standard caution and emphasize on‑site security and lighting where appropriate.
A constructive trend is the estimated decline in property‑offense rates over the last year, which outperforms most neighborhoods nationwide. While this does not eliminate risk, it signals improving conditions compared with broader benchmarks. As always, evaluate recent, property‑level incident logs and insurer guidance to align operating plans with local patterns.
The employment base within a short drive mixes corporate headquarters and regional offices that support renter demand through diverse white‑ and gray‑collar roles, including retail corporate, auto retail, and healthcare administration. Listed below are nearby anchors that help underpin commute‑convenient housing demand.
- Office Depot — retail corporate HQ (9.5 miles) — HQ
- AutoNation — auto retail corporate HQ (10.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (11.5 miles)
- Johnson & Johnson — corporate offices (27.9 miles)
- Siegel Financial Group - Northwestern Mutual — financial services offices (30.7 miles)
Constructed in 1987, the asset is newer than much of the surrounding housing stock, offering relative competitiveness versus 1960s‑era properties while leaving room for targeted value‑add (systems updates, interiors, and common‑area refresh) to lift durability and rents. Neighborhood occupancy is around the national median and trending slightly higher, and 3‑mile demographics point to population growth and a larger household base by 2028—both supportive of a stable tenant pipeline. Based on CRE market data from WDSuite, local ownership costs are elevated relative to incomes, which tends to sustain multifamily reliance and retention, while rent‑to‑income levels remain manageable, supporting ongoing lease performance.
Operationally, restaurant, grocery, and pharmacy access rank in the top quartile nationally, aiding day‑to‑day livability. Risks to underwrite include mixed safety readings relative to national benchmarks and thinner immediate‑neighborhood amenities like parks and cafés, which place more weight on property operations, maintenance, and value‑add execution to drive performance.
- 1987 vintage offers value‑add and modernization potential versus older local stock
- Neighborhood occupancy near national median with a slight upward trend supports stability
- 3‑mile population and household growth indicate a larger renter pool by 2028
- High‑cost ownership context reinforces rental demand; rent‑to‑income remains manageable
- Risks: mixed safety metrics and limited immediate parks/cafés require prudent operations