| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 38th | Poor |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3300 NW 3rd Ave, Pompano Beach, FL, 33064, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1974 |
| Units | 28 |
| Transaction Date | 2006-10-23 |
| Transaction Price | $21,358,000 |
| Buyer | CMIF PALM ISLAND LLC |
| Seller | SAMPLE APTS LLC |
3300 NW 3rd Ave Pompano Beach Multifamily Opportunity
Neighboring data point to a deep renter base and steady neighborhood occupancy, according to WDSuite’s CRE market data, supporting a workforce-oriented thesis in Broward County. These metrics reflect the surrounding neighborhood, not this specific property.
Located in an inner-suburb pocket of Pompano Beach, the surrounding neighborhood trends show a sizable renter pool and stable, if not peak, occupancy conditions. The neighborhood occupancy rate is measured at 90.1% (above year-ago levels), though its rank at 210 among 345 metro neighborhoods indicates performance below the metro median. For investors, this suggests solid baseline demand with room to outperform via product quality, management, or value-add execution.
Renter concentration is high: 74.8% of housing units are renter-occupied, ranking 8th out of 345 metro neighborhoods. This depth of renter-occupied units supports tenant demand and leasing velocity for multifamily assets, particularly those positioned for workforce households.
Amenity access is mixed. Restaurant density ranks competitively (60th of 345; 93rd percentile nationally), indicating nearby dining options, while cafes, groceries, parks, and pharmacies are sparse in the immediate neighborhood. Childcare access compares favorably (53rd of 345; 94th percentile nationally), useful for family-oriented unit mixes. These dynamics point to day-to-day convenience driven more by restaurants and childcare than by park or café proximity.
Within a 3-mile radius, demographics show modest population growth over the last five years and a larger increase in households, with further gains projected. Households are expected to expand at a faster pace than population, signaling smaller household sizes and a potential expansion of the tenant base that can support occupancy stability. Median home values in the neighborhood are lower than many South Florida submarkets, which can increase competition from ownership options; however, the high renter concentration and projected household growth help sustain multifamily demand.
Vintage context: the property was built in 1974, slightly older than the neighborhood’s average vintage. Investors should plan for targeted capital improvements and potential value-add upgrades to enhance competitiveness against newer stock while leveraging larger average unit sizes for the asset class.
Safety trends are mixed relative to the metro and nation. The neighborhood’s crime rank is 231 out of 345 Fort Lauderdale–Pompano Beach–Sunrise neighborhoods, placing it below the metro median. Nationally, safety percentile readings indicate the area is below average; however, recent data show property offenses declining year over year, which is a constructive directional signal. As always, investors should underwrite security measures and tenant experience based on property-specific information in addition to neighborhood benchmarks.
Regional employment anchors within commuting range include headquarters and major corporate offices in retail, auto, and healthcare. These employers support renter demand through diverse job bases and commute convenience for workforce tenants.
- Office Depot — retail HQ and corporate (9.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (9.7 miles)
- AutoNation — automotive retail HQ (10.5 miles) — HQ
- Johnson & Johnson — healthcare & consumer products (27.5 miles)
3300 NW 3rd Ave is a 28‑unit multifamily asset in an inner-suburb location with a deep renter base and stable neighborhood occupancy. The neighborhood’s renter-occupied share ranks near the top of the metro, supporting demand depth and leasing durability. According to CRE market data from WDSuite, neighborhood occupancy is steady but below the metro median, creating room for well-executed operations or renovations to capture relative outperformance.
Built in 1974, the asset is slightly older than the area’s average vintage. That positioning can support a value‑add strategy: focused capital projects and modernization can enhance competitiveness against newer stock. Within a 3‑mile radius, households have been growing and are projected to expand further, pointing to a larger tenant base over time. At the same time, a high rent‑to‑income environment in the immediate neighborhood suggests thoughtful lease management and pricing discipline to sustain retention.
- Deep renter base supports demand and leasing stability
- Value‑add upside from 1974 vintage via targeted renovations
- Household growth within 3 miles expands the tenant pool
- Proximity to regional employers underpins workforce housing demand
- Risks: below‑median neighborhood safety and elevated rent‑to‑income call for prudent underwriting