| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 38th | Poor |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3400 NW 5th Ter, Pompano Beach, FL, 33064, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1973 |
| Units | 33 |
| Transaction Date | 2006-10-23 |
| Transaction Price | $21,358,000 |
| Buyer | CMIF PALM ISLAND LLC |
| Seller | SAMPLE APTS LLC |
3400 NW 5th Ter, Pompano Beach Multifamily Investment
Neighborhood-level data points to a deep renter pool and steady occupancy; according to WDSuite’s CRE market data, leasing has held firm in recent years, supporting income stability at this address.
Located in Pompano Beach’s inner suburb fabric, the property benefits from a renter-driven neighborhood profile. Renter-occupied share is among the most competitive within the Fort Lauderdale–Pompano Beach–Sunrise metro (ranked 8 out of 345 neighborhoods), indicating a broad tenant base that can support leasing and renewals. Neighborhood occupancy has trended modestly higher over the past few years, which supports underwriting for stabilized operations.
Daily-needs retail is mixed: restaurants are competitive among Fort Lauderdale–Pompano Beach–Sunrise neighborhoods, while grocery, parks, and pharmacies are less concentrated within the immediate area. Strong childcare availability stands out at the neighborhood level, which can help retain family households. Without overrelying on proximity retail, investors should consider the broader Broward County amenity set and commuter networks as drivers of livability.
Vintage matters: built in 1973, the asset is slightly older than the neighborhood’s average construction year. This suggests potential value-add and capital planning opportunities (exteriors, systems, and interiors) to strengthen competitive positioning against newer stock, while still meeting workforce demand in this submarket.
Within a 3-mile radius, population and household counts have grown and are projected to continue increasing, pointing to a larger tenant base over time. Household sizes are edging smaller, which can support demand for one- and two-bedroom units. Median rents in the 3-mile area have risen and are forecast to continue growing, which may bolster pricing power but also calls for careful lease management where rent-to-income ratios signal affordability pressure. Based on commercial real estate analysis from WDSuite, this demand backdrop is consistent with broader South Florida multifamily trends.
Neighborhood safety performance sits in the lower half of the Fort Lauderdale–Pompano Beach–Sunrise metro (rank 231 out of 345), and overall compares below the national median. Recent trends are mixed: estimated property offenses have declined year over year, while estimated violent offenses show a recent uptick. Investors typically account for these dynamics with security, lighting, and resident-experience measures, and by emphasizing professional management to support retention.
The area draws from a diversified Broward–Palm Beach employment base, with nearby corporate offices that support workforce housing demand and reasonable commute times. Key employers include Office Depot, Tenet Healthcare, AutoNation, and Johnson & Johnson.
- Office Depot — retail corporate offices (9.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (9.5 miles)
- AutoNation — auto retail corporate offices (10.5 miles) — HQ
- Johnson & Johnson — healthcare & consumer goods offices (27.4 miles)
This 33-unit property offers durable renter demand within an inner-suburb location where renter-occupied housing is competitively concentrated relative to other metro neighborhoods. Built in 1973, the asset’s slightly older vintage points to clear value-add angles and capital planning to enhance finishes and systems, supporting rent positioning against newer comps. Within a 3-mile radius, recent and projected growth in population and households suggests a larger tenant base ahead, which can support occupancy stability and measured rent growth.
Neighborhood-level occupancy has improved modestly, and median rents in the 3-mile area have been rising, reinforcing the case for steady income. According to CRE market data from WDSuite, the submarket’s fundamentals align with South Florida’s broad multifamily resilience, though rent-to-income ratios indicate affordability pressure that warrants attentive lease management and resident retention strategies.
- Competitive renter concentration supports depth of tenant base and leasing stability.
- 1973 vintage offers value-add and capex opportunities to improve competitive positioning.
- 3-mile population and household growth expand the renter pool and support occupancy.
- Rising area rents support revenue growth potential with disciplined lease management.
- Risk: safety ranks in the metro’s lower half; proactive management and security planning are important.