| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Fair |
| Demographics | 10th | Poor |
| Amenities | 29th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 419 SW 2nd Pl, Pompano Beach, FL, 33060, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1975 |
| Units | 22 |
| Transaction Date | 1999-08-27 |
| Transaction Price | $1,642,700 |
| Buyer | AVAILABLE NOT |
| Seller | AVAILABLE NOT |
419 SW 2nd Pl Pompano Beach 22-Unit Multifamily
Neighborhood renter concentration and steady occupancy support durable cash flow potential, according to WDSuite’s CRE market data. Positioned in an inner-suburb pocket of Pompano Beach, the asset serves workforce demand with proximity to daily needs and major employment nodes.
Livability is driven by access to daily necessities and regional job centers. Grocery availability ranks in the top quartile nationally, and restaurant density is also top quartile, indicating services that can support resident retention and leasing velocity. By contrast, overall amenity density is below the metro median among 345 Fort Lauderdale–Pompano Beach–Sunrise neighborhoods, suggesting fewer parks, cafes, and childcare options within the immediate area.
For investors, tenure and occupancy are key signals. The neighborhood records a high share of renter-occupied housing units (around 80% of units), which points to a deep local tenant base. Neighborhood occupancy is reported at 88%, offering context for rent roll stability; both metrics reflect neighborhood conditions rather than this specific property.
Within a 3-mile radius, the population has expanded in recent years and is projected to continue growing through 2028, contributing to a larger tenant base. Households have increased and are forecast to rise further as average household size trends lower, a pattern that typically supports demand for smaller multifamily units and sustained absorption.
Income and rent levels in the 3-mile radius show healthy growth, with median contract rents trending upward alongside rising household incomes. In the immediate neighborhood context, rent-to-income ratios point to some affordability pressure, a consideration for lease management and renewal strategies. Based on CRE market data from WDSuite, these dynamics suggest demand depth for workforce-oriented units while highlighting the importance of pricing discipline.
Safety indicators are mixed relative to peers. The neighborhood ranks below the metro median for safety among 345 Fort Lauderdale–Pompano Beach–Sunrise neighborhoods and sits below the national median overall. Property offenses have eased year over year, placing the area closer to the middle of national comparisons, while violent offense measures remain below the national median. Trends should be monitored as part of ongoing risk management and resident retention planning.
Nearby corporate employers reinforce the area’s workforce housing profile and commute convenience, supporting multifamily demand and resident retention. Key nodes include AutoNation, Tenet Healthcare’s Florida region offices, Office Depot, Johnson & Johnson, and Mosaic.
- AutoNation — corporate offices (7.5 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (10.6 miles)
- Office Depot — corporate offices (12.2 miles) — HQ
- Johnson & Johnson — corporate offices (24.6 miles)
- Mosaic — corporate offices (28.7 miles)
This 22-unit property offers exposure to a renter-heavy neighborhood with steady occupancy and proximity to strong employer bases across Broward County. Neighborhood-level renter-occupied share is high and occupancy is solid, supporting day-one leasing durability, while grocery and dining access compare favorably at the national level. According to CRE market data from WDSuite, local rent growth and rising incomes within a 3-mile radius expand the tenant pool and support ongoing absorption, though affordability pressure in the immediate neighborhood warrants careful pricing and renewal strategies.
Operationally, the asset’s inner-suburb location caters to workforce demand and commuting convenience. Forward-looking population and household growth within a 3-mile radius point to a larger renter base over time, reinforcing the case for stable occupancy with disciplined expense and rent management.
- High renter-occupied share at the neighborhood level supports demand depth and leasing stability.
- Neighborhood occupancy and top-quartile grocery/restaurant access underpin retention and day-to-day convenience.
- 3-mile radius shows population and household growth, expanding the renter pool over the medium term.
- Proximity to major employers across Broward County supports consistent leasing and reduces turnover risk.
- Risk: Elevated rent-to-income ratios in the immediate neighborhood call for measured rent setting and renewal management.