| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 28th | Poor |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 903 SW 15th St, Pompano Beach, FL, 33060, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 2004 |
| Units | 39 |
| Transaction Date | 2021-12-21 |
| Transaction Price | $17,289,900 |
| Buyer | AGAMAR HOLDING INC |
| Seller | ROBMAR CONSTRUCTION LLC |
903 SW 15th St Pompano Beach Multifamily Opportunity
2004 vintage in a renter-heavy pocket of Pompano Beach positions this asset for steady tenant demand and competitive operations, according to WDSuite’s CRE market data. The neighborhood’s leasing environment is serviceable rather than tight, so execution will hinge on management, unit positioning, and pricing discipline.
Neighborhood dynamics and leasing context
The property sits in an Inner Suburb location with everyday conveniences close by. Neighborhood amenities skew toward food and daily needs, with restaurant, grocery, and cafe access comparing favorably to many areas of the metro, while formal parks and pharmacies are limited. This mix supports day‑to‑day livability but puts a premium on on‑site features and curb appeal to compete for renewals.
Neighborhood occupancy is moderate at 90.1% and sits below the metro median based on WDSuite’s CRE market data, suggesting leasing is achievable but not frictionless. Notably, the neighborhood’s share of renter‑occupied housing units is high at 69.5% and ranks among the strongest renter concentrations in the metro (competitive among 345 neighborhoods), indicating a deep tenant base for multifamily operators.
Within a 3‑mile radius, population and households have grown in recent years, with households expanding faster than population and average household size trending smaller. This pattern typically broadens the renter pool and supports occupancy stability for well‑managed assets.
Ownership costs in the immediate neighborhood are relatively accessible compared to many U.S. areas, which can create some competition with entry‑level ownership options. Lease-up and renewal strategies should emphasize convenience, professional management, and total cost of occupancy to maintain pricing power.
The property’s 2004 construction is newer than the neighborhood’s older housing stock (average 1979), improving competitive positioning versus legacy assets; investors should still underwrite for ongoing systems upkeep and targeted renovations to sustain appeal.
Safety context
WDSuite’s neighborhood safety indicators place this area below the metro average, with crime standing in the lower tier among 345 Fort Lauderdale–Pompano Beach–Sunrise neighborhoods and below national percentiles for safety. This calls for pragmatic property management practices—lighting, access control, and community engagement—to support resident retention.
Investors should compare current trends and onsite measures to nearby submarkets when calibrating underwriting assumptions for marketing spend, security, and turnover.
Employment nodes and commuter access
Nearby employers span automotive retail headquarters, healthcare, office supplies, healthcare products, and logistics—supporting a broad workforce tenant base and commute convenience for residents.
- AutoNation — automotive retail (6.35 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (10.96 miles)
- Office Depot — office supplies (13.27 miles) — HQ
- Johnson & Johnson — healthcare products (23.49 miles)
- Ryder System — logistics (28.31 miles) — HQ
Investment thesis
This 39‑unit, 2004‑built asset benefits from a large renter base in the immediate neighborhood and proximity to diversified employment nodes. Neighborhood occupancy is serviceable but below the metro median, so consistent leasing performance will rely on turn efficiency, amenities, and competitive interior finishes.
According to CRE market data from WDSuite, the neighborhood’s high share of renter‑occupied units supports demand depth, while 3‑mile trends point to ongoing renter pool expansion as households increase and average household size declines. Balanced against this, rent‑to‑income levels indicate affordability pressure, and safety scores below metro averages warrant thoughtful operating practices and budgeting for resident experience.
- Newer 2004 vintage versus older local stock supports competitive positioning with manageable modernization needs
- High neighborhood renter‑occupied share indicates a deep tenant base for multifamily demand
- 3‑mile household growth and smaller household sizes expand the renter pool and support occupancy
- Proximity to varied employers underpins leasing stability across economic cycles
- Risks: below‑median neighborhood safety and affordability pressure require prudent underwriting and active management