| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Fair |
| Demographics | 10th | Poor |
| Amenities | 29th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 445 SW 2nd St, Pompano Beach, FL, 33060, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1975 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | $2,115,000 |
| Buyer | AVONDALE GARDENS LLC |
| Seller | HARRIS & H LTD |
445 SW 2nd St, Pompano Beach Multifamily Investment Opportunity
Neighborhood metrics point to durable renter demand with a high share of renter-occupied housing and steady occupancy, according to WDSuite’s CRE market data. Positioning focuses on reliable workforce tenancy and disciplined operations rather than outsized rent growth.
This Inner Suburb location in Pompano Beach serves a predominantly renter-oriented neighborhood, with a high share of housing units that are renter-occupied at the neighborhood level. For investors, that depth of renter households supports ongoing leasing interest and renewals, though performance will hinge on active management and resident retention strategies.
Amenity access is mixed: overall amenity density trails national norms, yet grocery coverage is strong and restaurants are comparatively plentiful. That combination can meet day-to-day needs for residents and reduces reliance on longer trips for essentials, which helps support leasing stability.
Neighborhood occupancy trends sit below the strongest parts of the Fort Lauderdale–Pompano Beach–Sunrise metro but are serviceable for workforce product. Median neighborhood contract rents are mid-market, while a higher rent-to-income burden indicates affordability pressure that operators should plan for via careful renewal strategies and resident services. These observations are based on CRE market data from WDSuite and apply to the neighborhood, not the property.
Within a 3-mile radius, demographics show moderate population growth in recent years and a projected increase through the forecast period, alongside notable household growth and gradually smaller average household sizes. For multifamily owners, that pattern points to renter pool expansion and supports demand for smaller floor plans and efficient units over the medium term.
Safety outcomes in this neighborhood track below national and metro benchmarks. Based on WDSuite data, the area ranks in the lower half among 345 metro neighborhoods, and national safety percentiles indicate weaker conditions relative to many U.S. neighborhoods. Property-related offenses have improved year over year, while violent offense indicators show recent upward movement, underscoring the importance of prudent onsite security and resident engagement.
Investors should underwrite with conservative assumptions and consider measures that support resident comfort and retention. Comparisons are at the neighborhood level and not specific to the property.
Nearby employment is diversified across automotive retail, healthcare, office supplies, pharmaceuticals, and logistics, which supports a broad renter base and commute convenience for residents.
- AutoNation — automotive retail (7.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (10.5 miles)
- Office Depot — office supplies (12.1 miles) — HQ
- Johnson & Johnson — pharmaceuticals (24.7 miles)
- Ryder System — logistics & transportation (29.4 miles) — HQ
445 SW 2nd St offers scale appropriate to hands-on operations at 34 units with 1975 vintage. The year of construction suggests scope for targeted capital planning and value-add upgrades to improve competitiveness against newer stock, while neighborhood-level renter concentration provides a consistent tenant base. According to CRE market data from WDSuite, neighborhood occupancy is workable but below top-performing submarkets, making active leasing and renewal management key to outcomes.
Within a 3-mile radius, recent and projected growth in households, alongside smaller average household sizes, signals a larger tenant base for smaller and efficient units. Amenity access skews toward essentials (notably groceries and restaurants), which supports day-to-day convenience. Underwriting should account for elevated rent-to-income pressures at the neighborhood level and safety considerations with appropriate operating practices.
- Renter-heavy neighborhood supports steady tenant demand and renewal opportunities.
- 1975 vintage creates value-add pathways through unit and system upgrades.
- 3-mile household growth and smaller household sizes expand the renter pool for efficient layouts.
- Essential amenities (groceries, restaurants) provide practical convenience for residents.
- Risks: below-metro safety positioning and higher rent-to-income ratios require conservative underwriting and proactive resident engagement.