| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 38th | Poor |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 335 NW 34th St, Pompano Beach, FL, 33064, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1972 |
| Units | 33 |
| Transaction Date | 2006-10-23 |
| Transaction Price | $5,043,900 |
| Buyer | CMIF PALM ISLAND LLC |
| Seller | SAMPLE APTS LLC |
335 NW 34th St Pompano Beach Multifamily Investment
High renter concentration and steady neighborhood occupancy point to durable tenant demand, according to WDSuite’s CRE market data, while the 1972 vintage suggests practical value-add and systems modernization opportunities.
Located in an Inner Suburb of the Fort Lauderdale–Pompano Beach–Sunrise metro, the neighborhood carries a C- rating and skews more renter-oriented than most local areas. The renter-occupied share of housing is high (ranked 8th out of 345 metro neighborhoods), placing it in the top quartile locally and indicating a deep tenant base for multifamily. Neighborhood occupancy trends have been stable but sit below the metro median (ranked 210 of 345), so asset-specific operations and leasing execution remain important to sustain performance.
Daily convenience is mixed: restaurant density is competitive nationally (93rd percentile), while cafes, groceries, parks, and pharmacies are sparse within the neighborhood boundary. Childcare access ranks favorably (53rd out of 345), supporting working households even as other soft services are limited. These dynamics suggest residents rely on nearby corridors outside the immediate neighborhood for certain amenities, a common pattern in inner-suburban Broward locations.
For investors, pricing power must be balanced with local affordability. The neighborhood’s median contract rent benchmarks high versus national peers (79th percentile), and the neighborhood-level rent-to-income ratio implies elevated affordability pressure. In contrast, home values track lower than many U.S. neighborhoods (26th percentile), which can create some competition from entry-level ownership; lease management and retention strategies should account for this.
Demographic indicators aggregated within a 3‑mile radius point to a gradually expanding renter pool: population and households have grown in recent years, with forecasts calling for additional population and household gains over the next five years. Average household size is trending smaller, which can increase the number of households and support demand for rental units even without rapid population growth. Taken together, these factors support occupancy stability for well-positioned workforce housing, based on CRE market data from WDSuite.
At the asset level, the 1972 construction is slightly older than the neighborhood’s average vintage. That age profile typically requires capital planning for interiors, building systems, and common areas, but it also offers value-add potential versus newer competing stock.
Safety metrics are mixed relative to the metro and national context. Overall crime ranks 231 out of 345 metro neighborhoods, indicating conditions below the metro median, and national comparisons place the area below average for safety. However, recent trends show improvement in property offenses, which declined over the last year, suggesting some easing in non-violent incidents. Violent offense measures track in lower national percentiles, so prudent security, lighting, and resident engagement policies remain relevant for risk management.
Nearby employers provide a diversified employment base that supports renter demand and commuting convenience, including Office Depot, Tenet Healthcare, AutoNation, Johnson & Johnson, and Siegel Financial Group.
- Office Depot — corporate headquarters (9.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare management (9.6 miles)
- AutoNation — auto retail headquarters (10.6 miles) — HQ
- Johnson & Johnson — healthcare products (27.5 miles)
- Siegel Financial Group - Northwestern Mutual — financial services (30.6 miles)
The property’s 33-unit scale in a renter-heavy Pompano Beach neighborhood positions it to capture steady workforce demand. Neighborhood occupancy has been generally stable, and a high renter-occupied share (top local ranks) indicates depth of the tenant base. According to CRE market data from WDSuite, area restaurant density is competitive, while other conveniences are thinner—an operating consideration that tends to favor properties with on-site amenities and reliable management.
Built in 1972, the asset is slightly older than the neighborhood average, pointing to value-add potential through interior refreshes and systems upgrades. Within a 3-mile radius, ongoing and forecast growth in population and households, alongside smaller average household sizes, expands the renter pool and supports occupancy stability. Affordability metrics signal the need for careful lease management and retention strategies, particularly as neighborhood rents benchmark high versus national peers and entry-level ownership remains comparatively accessible.
- Renter-heavy neighborhood supports demand depth and leasing resilience.
- 1972 vintage offers value-add potential via renovations and system modernization.
- 3-mile demographic growth and smaller household sizes expand the prospective renter pool.
- Proximity to diversified employers underpins workforce housing demand.
- Risks: affordability pressure, competition from entry-level ownership, and below-metro safety ranks require prudent operations.