| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 29th | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2650 NW 64th Ave, Sunrise, FL, 33313, US |
| Region / Metro | Sunrise |
| Year of Construction | 1973 |
| Units | 40 |
| Transaction Date | 2014-01-20 |
| Transaction Price | $2,650,000 |
| Buyer | CFRE LAKE SUCCESS LLC |
| Seller | RJR RENTAL LLC |
2650 NW 64th Ave, Sunrise FL Multifamily Investment
Neighborhood fundamentals point to durable renter demand and high occupancy, according to WDSuite s CRE market data. Focus is on stable leasing conditions rather than outsized rent growth at this location.
This Urban Core neighborhood in the Fort Lauderdale Pompano Beach Sunrise metro posts strong occupancy at the neighborhood level, with rates in the top quartile among 345 metro neighborhoods. For investors, that indicates steady lease-up and lower downtime risk relative to many submarkets, even as rent growth moderates.
Amenity access is a practical draw for renters. Cafes and childcare density rank competitively (both within the top decile locally), and grocery access is also strong (top quartile among 345 metro neighborhoods), supporting daily convenience that can aid retention. Restaurant density is above the metro median. Park and pharmacy access are limited in this immediate area, which may marginally affect lifestyle appeal and should be weighed against the convenience of other services.
On pricing, neighborhood median contract rents sit above national norms (80th percentile nationally), while the rent-to-income ratio is elevated. That creates affordability pressure for some renter households, suggesting careful lease management and renewal strategies. At the same time, elevated ownership costs (value-to-income ratio in a high national percentile) reinforce reliance on rental housing, a tailwind for sustained multifamily demand.
Housing stock skews similar in vintage to the metro norm, and this property s 1973 construction provides a potential value-add path through targeted renovations and systems updates. Renter-occupied share at the neighborhood level is 41.7% of housing units, signaling a sizable tenant base. Within a 3-mile radius, population and household counts have grown over the past five years and are projected to expand further, pointing to renter pool expansion that can support occupancy stability over the medium term based on multifamily property research and validated by WDSuite.
Safety indicators benchmark favorably in broader comparisons: the neighborhood sits above the national median for overall safety (higher national percentile is better), and property offense rates benchmark in a strong national percentile. Within the Fort Lauderdale Pompano Beach Sunrise metro, the area is competitive among 345 neighborhoods, aligning with a generally stable operating environment for workforce-oriented assets.
Trend-wise, recent estimates show a decline in property offenses year over year, while violent offense rates have risen from a low base. Investors may wish to incorporate standard security measures and underwriting cushions rather than assume continued improvement. As always, safety conditions can vary by block and over time; referencing multiple sources alongside WDSuite s data is prudent.
Proximity to established employers supports a broad commuter tenant base and leasing durability, led by AutoNation, Tenet Healthcare s Florida operations, Johnson & Johnson, Office Depot, and Ryder System.
- AutoNation automotive retail HQ (6.3 miles) HQ
- Tenet Healthcare Corporation, Florida Region healthcare services (10.3 miles)
- Johnson & Johnson healthcare & consumer products offices (18.1 miles)
- Office Depot office supplies HQ (18.3 miles) HQ
- Ryder System logistics & transportation HQ (22.2 miles) HQ
At 40 units with 1973 construction, the asset fits a value-add profile in a neighborhood that demonstrates high occupancy and solid daily-needs access. According to CRE market data from WDSuite, neighborhood occupancy trends rank in the top quartile locally, and amenity access (cafes, childcare, grocery) is competitive factors that typically support leasing stability. Elevated ownership costs in the area help sustain renter reliance on multifamily, while a meaningful renter-occupied share of housing units underscores depth of the tenant base.
Within a 3-mile radius, population and household counts have increased and are projected to expand further, suggesting a larger renter pool over the next cycle. Affordability pressure (higher rent-to-income ratios) warrants disciplined leasing and renewal practices, but proximity to major employers and the potential to modernize 1970s-vintage interiors and systems create a credible path to NOI durability and selective rent positioning.
- High neighborhood occupancy supports lease-up and retention
- Competitive daily-needs access (cafes, childcare, grocery) aids renter convenience
- 1973 vintage offers value-add potential through targeted renovations
- Expanding 3-mile population and households point to a growing renter pool
- Risk: elevated rent-to-income ratios require careful lease and renewal management