| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 38th | Poor |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 515 NW 34th St, Pompano Beach, FL, 33064, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1973 |
| Units | 33 |
| Transaction Date | 2006-10-23 |
| Transaction Price | $5,043,900 |
| Buyer | CMIF PALM ISLAND LLC |
| Seller | SAMPLE APTS LLC |
515 NW 34th St Pompano Beach Multifamily Investment
Renter-occupied share is among the highest in the metro and neighborhood occupancy trends hover near 90%, according to WDSuite’s CRE market data, supporting demand stability for a 33-unit asset. Positioning focuses on steady renter demand rather than amenity-driven premiums.
This inner suburb of Pompano Beach shows durable renter demand signals for multifamily. The neighborhood s renter-occupied share ranks near the top among 345 Fort Lauderdale Pompano Beach Sunrise neighborhoods, indicating a deep tenant base. Median contract rents benchmark above many U.S. neighborhoods, while neighborhood occupancy trends remain steady. According to CRE market data from WDSuite, neighborhood NOI per unit benchmarks below the national median, which favors value-focused operations and renovation-driven upside rather than luxury positioning.
Daily-needs access is mixed. Restaurant density is competitive nationally (top quartile), but cafes, grocery, parks, and pharmacies are limited within the neighborhood. Childcare access is a relative strength, ranking near the top among 345 metro neighborhoods. For investors, this suggests leasing anchored by workforce households, with pricing power tied more to functional housing and commute convenience than to walkable retail.
Vintage matters: the property was built in 1973, a touch older than the neighborhood s average construction year. That typically points to near- and medium-term capital planning (systems, interiors, exteriors) and creates potential value-add opportunities that can improve competitive positioning against newer product.
Demographic statistics aggregated within a 3-mile radius show modest population growth over the last five years, with households expanding and average household size trending lower. Forecasts point to additional population and household gains through 2028 alongside rising median incomes and asking rents, supporting a larger tenant base and reinforcing occupancy stability if units are kept competitively finished and priced.
Ownership costs in the immediate neighborhood benchmark below national medians, which can create some competition with entry-level ownership. For multifamily investors, this generally supports retention through value-focused renovations and disciplined lease management, rather than outsized rent increases.
Safety indicators are mixed when benchmarked against national and metro peers. The neighborhood s crime positioning trends below the national median, and it sits below the metro median among 345 Fort Lauderdale Pompano Beach Sunrise neighborhoods. However, according to WDSuite, estimated property crime has improved year over year, placing the neighborhood around the national middle on that trend, while violent-offense benchmarks remain weaker versus national comparables.
Investors typically underwrite with added attention to site security, lighting, and tenant screening, recognizing that downward movement in property-crime estimates is constructive but that broader safety metrics still trail stronger-performing areas.
The employment base nearby blends corporate headquarters and regional offices, supporting workforce housing demand and commute convenience. Key drivers include Office Depot, Tenet Healthcare, and AutoNation, with additional access to Johnson & Johnson and Ryder System within a wider commute shed.
- Office Depot — corporate HQ & offices (9.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (9.5 miles)
- AutoNation — automotive retail HQ & offices (10.6 miles) — HQ
- Johnson & Johnson — healthcare & consumer products offices (27.5 miles)
- Ryder System — logistics & transportation HQ & offices (32.1 miles) — HQ
This 33-unit property at 515 NW 34th St offers exposure to a renter-heavy neighborhood within the Fort Lauderdale Pompano Beach Sunrise metro. Based on CRE market data from WDSuite, neighborhood occupancy trends are steady and the renter-occupied share ranks among the highest in the metro, signaling a deep tenant base that supports leasing continuity. Built in 1973, the asset may benefit from targeted value-add and systems upgrades to sharpen its competitive position against newer stock.
Three-mile demographics indicate modest population growth to date with households expanding and incomes projected to rise alongside asking rents through 2028, supporting sustained multifamily demand. Amenity access is mixed at the neighborhood level, so underwriting should lean on workforce demand, commute convenience, and renovation-driven unit differentiation rather than walkability premiums.
- Renter-heavy neighborhood and steady occupancy support demand depth and leasing stability.
- 1973 vintage creates practical value-add and capital planning opportunities to lift effective rents.
- 3-mile forecasts show population and income growth, expanding the tenant base and supporting rent durability.
- Nearby HQs and regional employers provide commute-oriented renter demand across job tiers.
- Risks: mixed safety benchmarks, limited neighborhood amenities, and affordability pressure require disciplined lease and expense management.