| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 49th | Fair |
| Amenities | 88th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5350 NW 88th Ave, Sunrise, FL, 33351, US |
| Region / Metro | Sunrise |
| Year of Construction | 1988 |
| Units | 66 |
| Transaction Date | 2022-09-15 |
| Transaction Price | $22,218,400 |
| Buyer | CCP HERON LANDING LLC |
| Seller | BEL LAUDERHILL HOLDINGS INC |
5350 NW 88th Ave Sunrise Multifamily Opportunity
Inner-suburb location with strong renter demand signals and high neighborhood occupancy, according to WDSuite's CRE market data. The area's amenity density and steady household growth support durable leasing.
Located in Sunrise within the Fort Lauderdale-Pompano Beach-Sunrise metro, the neighborhood scores competitively among 345 metro neighborhoods (A- rating) with amenity access well above national averages. Dining and cafe density track near the top decile nationally, and parks and pharmacies are also strong, reinforcing day-to-day convenience that supports retention.
Neighborhood occupancy is high and has trended upward over the past five years, indicating stable apartment demand rather than property-specific performance. The share of renter-occupied housing is roughly one-third of units, offering a meaningful tenant base while still competing with owner-occupied options common in this inner-suburb setting.
Within a 3-mile radius, population and household totals have grown and are projected to continue rising through 2028. Household sizes are edging smaller, which typically expands the renter pool and supports occupancy stability for multifamily assets. Median contract rents have risen in recent years, and the rent-to-income profile suggests manageable affordability pressure that can aid lease retention with prudent rent management.
Ownership costs in the area are relatively elevated versus incomes by national benchmarks, which can sustain reliance on multifamily rentals and support pricing power when supported by strong operations. The property's 1988 vintage is slightly newer than the neighborhood's average stock (mid-1980s), aiding competitive positioning versus older buildings while still warranting selective modernization for systems and interiors.
Neighborhood safety trends are mixed relative to the region and nation. Against the 345 neighborhoods in the Fort Lauderdale-Pompano Beach-Sunrise metro, the area performs below the metro median on overall crime, so investors may want to underwrite conservative security and operating practices.
Nationally, overall safety sits below the median, though property offense measures compare better than many neighborhoods nationwide. Recent year estimates point to an uptick in reported offenses; monitoring trendlines and maintaining lighting, access controls, and community engagement can help support resident confidence.
Proximity to major employers supports workforce housing demand and commute convenience, led by healthcare, auto retail, office supplies, pharmaceuticals, and logistics operations noted below.
- Tenet Healthcare Corporation, Florida Region — healthcare services (7.8 miles)
- AutoNation — auto retail (9.1 miles) — HQ
- Office Depot — office supplies (17.3 miles) — HQ
- Johnson & Johnson — pharmaceuticals/medtech offices (19.9 miles)
- Ryder System — logistics (23.4 miles) — HQ
This 66-unit, 1988-vintage asset benefits from a demand backdrop characterized by high neighborhood occupancy and strong amenity access that supports leasing durability. Within a 3-mile radius, population and households have grown and are projected to continue increasing, pointing to a larger tenant base and support for occupancy stability. Ownership costs are relatively elevated versus local incomes by national benchmarks, which tends to sustain reliance on multifamily rentals and can aid pricing power when paired with careful lease management. Based on commercial real estate analysis using WDSuite's CRE market data, neighborhood-level rents have risen while rent-to-income signals remain manageable for retention-focused strategies.
The property's vintage is slightly newer than the average neighborhood stock, offering competitive positioning versus older comparables while still presenting selective value-add potential through modernization of building systems and interiors. Investors should underwrite measured operating assumptions, including security and operating expenses, given mixed safety readings and an owner-leaning tenure mix in the surrounding area.
- High neighborhood occupancy and rising household counts support durable leasing
- Amenity-rich inner suburb with dining, cafes, parks, and pharmacies above national norms
- 1988 vintage offers competitive position versus older stock with value-add modernization potential
- Ownership costs relatively elevated versus incomes, reinforcing reliance on rentals
- Risks: mixed safety trendlines and a sizeable owner-occupied presence require conservative underwriting