| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 47th | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3220 NW 84th Ave, Sunrise, FL, 33351, US |
| Region / Metro | Sunrise |
| Year of Construction | 1975 |
| Units | 24 |
| Transaction Date | 2012-09-24 |
| Transaction Price | $12,150,000 |
| Buyer | SUNRISE LAKE VIEWS LLC |
| Seller | LAS OLAS BAY PROPERTIES 3200 84TH AVE LP |
3220 NW 84th Ave, Sunrise FL Multifamily Investment
Inner-suburb location with strong renter concentration and everyday amenities supports durable tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends and pricing require disciplined operations, but renter depth and proximity to jobs help underpin stability.
This Sunrise address sits in an Inner Suburb pocket that is competitive among Fort Lauderdale-Pompano Beach-Sunrise neighborhoods (ranked 84 out of 345). Daily-needs access is a clear strength: cafes, restaurants, groceries, and pharmacies register in high national percentiles, helping with resident convenience and lease retention.
The renter-occupied share in the neighborhood is 62.8% (ranked 22 of 345; 95th percentile nationally), indicating a deep tenant base for multifamily. By contrast, the neighborhood’s occupancy is measured at the neighborhood level at 88.9% (ranked 230 of 345; 40th percentile nationally), suggesting investors should plan for active leasing and renewal strategies rather than assuming full stabilization at acquisition.
Within a 3-mile radius, population has grown modestly and households have expanded at a faster clip, with additional gains forecast through 2028. This points to a larger tenant base and more renters entering the market, which supports occupancy stability. Median school ratings trend around 3.0/5 (above many peers nationally), a neutral-to-slight positive for family-oriented demand.
Ownership costs in the neighborhood rate higher relative to incomes (value-to-income in the upper national percentiles), which tends to sustain reliance on rental housing and can support pricing power. At the same time, rent-to-income in the neighborhood reads elevated, introducing affordability pressure that calls for careful lease management and resident retention planning. These dynamics align with what investors often see in commercial real estate analysis for mature inner-ring suburbs.
Vintage context matters: the local average construction year is 1982, and the subject’s 1975 vintage is older. That typically implies capital planning for systems and interiors while offering potential value-add and repositioning upside versus nearby 1980s stock.
Safety indicators for the neighborhood compare favorably with many areas nationally: overall crime performance sits around the 61st percentile nationwide, and violent-offense conditions score stronger at roughly the 77th percentile, based on WDSuite’s data. In the metro context, this places the area above several Fort Lauderdale-Pompano Beach-Sunrise peers without implying block-level conclusions.
Recent trends warrant monitoring. Year-over-year violent-offense estimates show an uptick, which moderates the otherwise constructive baseline. Investors should underwrite routine security measures and lighting/visibility improvements as practical risk management rather than rely solely on historic averages.
Nearby corporate employment anchors provide commute-friendly access that supports workforce housing demand and resident retention. Key employers include AutoNation, Tenet Healthcare Corporation (Florida Region), Johnson & Johnson, Office Depot, and Ryder System.
- AutoNation — corporate offices (8.0 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (9.46 miles)
- Johnson & Johnson — healthcare & consumer products offices (18.27 miles)
- Office Depot — corporate offices (18.54 miles) — HQ
- Ryder System — logistics & transportation corporate offices (21.96 miles) — HQ
The property’s 1975 vintage offers classic value-add levers in an Inner Suburb setting with strong renter concentration and high-amenity convenience. Neighborhood occupancy is measured at the neighborhood level and sits below metro median, so execution will rely on pragmatic operations, targeted renovations, and resident retention. According to CRE market data from WDSuite, local amenities and a sizable renter base support demand, while elevated rent-to-income conditions call for calibrated pricing and renewal strategies.
Three-mile demographics show growth in households today and further expansion forecast, implying a larger renter pool over the medium term. The ownership landscape trends relatively expensive versus incomes, which tends to reinforce rental reliance and can support leasing velocity when combined with thoughtful unit upgrades and service quality.
- Deep renter-occupied base supports demand; amenity density aids retention
- 1975 vintage presents value-add and system modernization opportunities
- Household growth within 3 miles expands the tenant pool over time
- Elevated rent-to-income requires disciplined pricing and renewal management