| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 38th | Poor |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 450 NW 34th St, Pompano Beach, FL, 33064, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1973 |
| Units | 48 |
| Transaction Date | 2015-11-06 |
| Transaction Price | $341,600 |
| Buyer | CMIF PALM ISLAND LLC |
| Seller | SAMPLE APTS LLC |
450 NW 34th St Pompano Beach Renter-Demand Multifamily
Neighborhood renter concentration supports a deeper tenant base and steadier occupancy, according to WDSuite s CRE market data, positioning this asset for dependable leasing in an inner-suburban location.
Located in Pompano Beach s inner suburbs, the property sits in a neighborhood with a high share of renter-occupied housing (about three-quarters of units), indicating meaningful depth in the tenant pool for multifamily operators. Neighborhood occupancy has trended up over the last five years, supporting expectations for leasing stability relative to similar Broward County locations.
Daily conveniences are mixed: restaurant density is strong compared with many U.S. neighborhoods, while immediate access to groceries, pharmacies, and parks is thinner, suggesting residents may rely on short drives for errands. For investors, that combination typically supports workforce housing demand while requiring attention to on-site amenities that enhance resident retention.
The asset s 1973 vintage is slightly older than the neighborhood s average construction year. That age profile points to capital planning opportunities 1 from systems and exterior upgrades to interior renovations 1 that can improve competitiveness versus younger stock.
Within a 3-mile radius, households have expanded over the past five years and are projected to grow further, while average household size is trending smaller. This dynamic can enlarge the renter pool and favor well-laid-out smaller units 1 a relevant match for an average unit size near 600 square feet. Median contract rents in the neighborhood have risen materially over the last five years, which, combined with a high rent-to-income ratio, calls for thoughtful lease management to balance pricing power and retention.
Safety metrics for the neighborhood track below national medians, based on WDSuite s data, indicating that investors should underwrite prudent security measures and tenant screening. Recent trends show property offense rates moving lower year over year, which is a constructive directional signal, though violent offense comparisons remain weaker than national norms.
In practice, investors often mitigate these factors with lighting, access controls, and community standards, and by highlighting commute convenience and value positioning when marketing to renters. Comparisons should be made against similar inner-suburban neighborhoods across the Fort Lauderdale Pompano Beach Sunrise metro rather than urban cores or exurban areas.
Proximity to a diversified employment base supports leasing fundamentals, with nearby offices for Office Depot, Tenet Healthcare, AutoNation, Johnson & Johnson, and Ryder System providing a steady commuter pipeline for workforce renters.
- Office Depot corporate HQ & offices (9.2 miles) HQ
- Tenet Healthcare Corporation, Florida Region healthcare services (9.6 miles)
- AutoNation automotive retail HQ & offices (10.5 miles) HQ
- Johnson & Johnson healthcare products offices (27.4 miles)
- Ryder System logistics HQ & offices (32.0 miles) HQ
This 48-unit, 1973 garden multifamily benefits from a neighborhood with a high renter-occupied share and improving occupancy, supporting durable leasing even as tenants remain price sensitive. According to CRE market data from WDSuite, median contract rents in the area have increased over the past five years, reinforcing revenue potential while the elevated rent-to-income profile warrants disciplined renewals and resident retention strategies.
Vintage creates clear value-add angles: systems modernization and targeted interior updates can lift competitive positioning versus slightly newer stock in Broward County. Within a 3-mile radius, population and households are expanding and forecast to grow, enlarging the tenant base; at the same time, smaller household sizes and an average unit size near 600 square feet align with demand for efficient layouts. Limited immediate access to groceries and parks suggests on-site amenities and management execution will play an outsized role in performance.
- High neighborhood renter concentration supports a deeper tenant base and steadier leasing.
- 1973 vintage offers value-add potential through systems, exterior, and interior upgrades.
- 3-mile household and population growth expands the renter pool, aligning with smaller-unit demand.
- Rising neighborhood rents underpin revenue potential with disciplined lease management.
- Risks: below-median safety benchmarks and elevated rent-to-income require security planning and retention focus; limited immediate retail means on-site amenities matter.