| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 38th | Poor |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 300 NW 34th St, Pompano Beach, FL, 33064, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1973 |
| Units | 46 |
| Transaction Date | 2006-10-23 |
| Transaction Price | $21,358,000 |
| Buyer | CMIF PALM ISLAND LLC |
| Seller | SAMPLE APTS LLC |
300 NW 34th St Pompano Beach Multifamily Investment
Renter demand is supported by a neighborhood with a high share of renter-occupied units and occupancy trending upward, according to WDSuite’s CRE market data. The asset’s scale and location position it for steady leasing with prudent operations.
Located in an inner suburb of the Fort Lauderdale–Pompano Beach–Sunrise metro, the area shows leasing fundamentals that favor multifamily operators: neighborhood occupancy is near the low-90% range and has inched higher over the past five years, supporting income stability through cycles (based on CRE market data from WDSuite). The share of housing units that are renter-occupied is very high—among the highest nationally—which indicates depth in the tenant base and consistent leasing velocity.
The property was built in 1973, slightly older than the neighborhood’s average vintage. That typically implies ongoing capital planning for building systems and presents value-add or renovation upside to improve competitive positioning versus newer stock.
Amenity access is mixed: restaurants are dense relative to many Fort Lauderdale–Pompano Beach–Sunrise neighborhoods (competitive locally), while daily-needs options like groceries, pharmacies, and parks are thinner in the immediate area. For investors, this suggests marketing around convenience to employment and major corridors, while recognizing residents may rely on short drives for certain services.
Within a 3-mile radius, the population and household counts have grown, and forecasts point to further household expansion alongside rising incomes. A growing household base and smaller average household size indicate more renters entering the market over time, which can support occupancy and renewal performance. Median home values in the neighborhood sit below national midpoints, which can introduce some competition from entry-level ownership; operators may emphasize value, service quality, and lease management to sustain retention.
Rent-to-income in the neighborhood is elevated, signaling affordability pressure for a portion of residents. For underwriting, that calls for measured rent growth assumptions, amenity-driven retention strategies, and close attention to concessions during softer leasing windows.
Safety indicators here trend weaker than national averages, with the neighborhood ranking in the lower half among 345 metro neighborhoods and national safety percentiles below midrange. That said, property offenses have moved lower year over year, pointing to incremental improvement, while violent offense metrics remain an area to monitor for community engagement and security planning (source: WDSuite CRE market data).
Proximity to regional corporate offices supports a diverse employment base and commuter convenience that can reinforce renter demand and renewal stability. Nearby anchors include Office Depot, Tenet Healthcare, AutoNation, Johnson & Johnson, and Northwestern Mutual-affiliated Siegel Financial Group.
- Office Depot — office supplies (9.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (9.7 miles)
- AutoNation — automotive retail (10.5 miles) — HQ
- Johnson & Johnson — pharmaceuticals & healthcare (27.5 miles)
- Siegel Financial Group - Northwestern Mutual — financial services (30.6 miles)
This 46-unit, 1973-vintage asset offers stable scale in a renter-heavy neighborhood where occupancy has edged higher in recent years. The vintage invites targeted capital improvements that can unlock value-add returns while maintaining competitive rents. Within a 3-mile radius, population and households are expanding and incomes are projected to rise, supporting a larger tenant base and sustained leasing. According to commercial real estate analysis from WDSuite, neighborhood ownership costs remain relatively accessible versus national medians, so operators should plan for thoughtful positioning and retention to mitigate competition from entry-level ownership.
Overall, the combination of strong renter concentration, steady neighborhood occupancy, and proximity to diverse employers supports durable demand. The key to performance will be disciplined expense control, measured rent growth, and renovations that enhance durability and livability without outpacing local affordability.
- Deep renter-occupied housing base supports leasing velocity and renewal probabilities.
- Occupancy has trended upward in the neighborhood, aiding income stability.
- 1973 vintage offers value-add potential via systems upgrades and unit/interior improvements.
- Diverse nearby employers bolster commuter demand and help sustain absorption.
- Risks: elevated rent-to-income and modest daily-needs amenity access call for careful pricing, concessions management, and retention-focused operations.