| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Fair |
| Demographics | 10th | Poor |
| Amenities | 29th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 501 SW 1st Ct, Pompano Beach, FL, 33060, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1998 |
| Units | 72 |
| Transaction Date | 2021-12-21 |
| Transaction Price | $14,679,100 |
| Buyer | 501 SW 1 COURT FL OWNER LLC |
| Seller | OAKS AT POMPANO LTD |
501 SW 1st Ct Pompano Beach Multifamily Profile
Neighborhood renter demand is resilient, with high renter concentration supporting leasing depth even as occupancy trends sit below metro medians, according to WDSuite’s CRE market data.
Situated in an Inner Suburb of the Fort Lauderdale–Pompano Beach–Sunrise metro, the immediate neighborhood shows solid day-to-day convenience anchored by strong grocery access (competitive nationally) and a broad restaurant base, while parks, pharmacies, cafes, and childcare are comparatively limited. For investors, this mix points to everyday livability with fewer discretionary amenities within close range, which can matter for tenant retention but does not typically drive leasing velocity on its own.
Property vintage matters here: built in 1998, the asset is newer than the neighborhood’s average construction year of 1975. That positioning typically supports competitive standing versus older stock, though investors should still plan for modernization of systems and common areas to meet current renter expectations.
Tenure patterns signal depth in the rental market. Within the immediate neighborhood, renter-occupied share ranks among the highest in the metro, indicating a strong base of renters. Within a 3-mile radius, housing units are more balanced (about 45% renter-occupied), which broadens the demand funnel and can diversify the tenant pool across price points.
Demographic indicators aggregated within a 3-mile radius show measured population growth over the last five years and a projected increase through 2028, with households expanding at a faster pace than population and average household size trending smaller. This combination points to a larger tenant base and incremental demand for rental units, supporting occupancy stability. Median contract rents in the 3-mile area are rising, and incomes have advanced meaningfully, which can underpin rent performance; however, neighborhood-level rent-to-income ratios suggest some affordability pressure, implying the need for disciplined lease management rather than aggressive across-the-board pricing.
Operationally, neighborhood occupancy is below the metro median, while the broader metro context remains supportive of renter demand. Based on CRE market data from WDSuite, this suggests execution-focused upside for well-managed properties, with location fundamentals and a growing renter pool offering a backdrop for steady performance rather than outsized momentum.
Safety outcomes in this neighborhood track below the metro average and sit below the national median, based on rankings among 345 metro neighborhoods. Nationally, the neighborhood’s position corresponds to weaker safety performance relative to higher-percentile areas.
Recent trends are mixed: estimated property offenses declined by roughly 10% year over year, while estimated violent offenses ticked up modestly. For investors, this calls for standard risk management and on-site security best practices to support tenant experience and retention.
The area draws on a diversified employment base within commuting range, which supports workforce housing demand and leasing stability. Notable nearby employers include AutoNation, Tenet Healthcare Corporation (Florida Region), Office Depot, and Johnson & Johnson.
- AutoNation — automotive retail HQ (7.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (10.4 miles)
- Office Depot — office supplies (12.0 miles) — HQ
- Johnson & Johnson — healthcare & consumer products (24.7 miles)
This 1998-vintage asset is positioned newer than much of the surrounding housing stock, offering competitive footing versus older properties while leaving room for targeted upgrades to drive rent and retention. Neighborhood renter concentration is high, and within a 3-mile radius households are expanding with smaller average household sizes, signaling a growing renter pool that can support occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy trends run below metro medians, which frames the opportunity as execution- and value-add–oriented rather than momentum-driven.
Income gains in the broader 3-mile area and rising median rents support a case for steady revenue growth, but rent-to-income dynamics in the immediate neighborhood indicate affordability pressure that warrants measured pricing and amenity alignment. Overall, fundamentals favor durable demand with prudent operational discipline.
- 1998 vintage competes well versus older local stock, with modernization potential for NOI lift
- High neighborhood renter concentration and expanding 3-mile household base support leasing depth
- Rising area incomes and rent levels provide runway for thoughtful rent management
- Execution focus: neighborhood occupancy below metro median suggests operational upside
- Risk: affordability pressure in the immediate neighborhood requires disciplined pricing and amenity strategy