| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 15th | Poor |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5970 NW 16th St, Sunrise, FL, 33313, US |
| Region / Metro | Sunrise |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | 2015-04-07 |
| Transaction Price | $55,500 |
| Buyer | SUNRISE PORTFOLIO LLC |
| Seller | SUNRISE CONDO GROUP LLC |
5964 NW 16th St Sunrise Multifamily Investment
Neighborhood occupancy has been resilient with a deep renter base, suggesting stable leasing conditions according to WDSuite’s CRE market data. Position within Broward County offers steady renter demand drivers without relying on luxury pricing.
Sunrise’s Urban Core location provides everyday convenience that supports renter retention. Cafes, groceries, and parks are present at densities that rank in the top quartile nationally, while the immediate area shows limited pharmacy options, a minor service gap for daily needs. Median contract rents in the neighborhood have risen meaningfully over five years, reflecting durable demand rather than transient spikes, based on CRE market data from WDSuite.
For investors evaluating stability, neighborhood occupancy is above the national median and competitive among Fort Lauderdale-Pompano Beach-Sunrise neighborhoods (124 out of 345), indicating relatively consistent absorption and lease rollover performance at the neighborhood level. The share of housing units that are renter-occupied is elevated (ranked 35 out of 345 in the metro), signaling a large tenant base and steady multifamily demand. Note these are neighborhood metrics rather than property-specific performance.
Within a 3-mile radius, demographics point to modest population growth and faster household expansion, which typically supports a larger tenant base over time. Projections show additional increases in households alongside slightly smaller average household sizes, which can underpin unit absorption across a range of floor plans.
Ownership costs in the area are relatively high compared with local incomes (value-to-income levels sit well above national medians), which tends to sustain renter reliance on multifamily housing and can support pricing power. At the same time, a higher rent-to-income environment calls for attentive lease management to maintain retention.
Safety indicators are mixed when viewed across metro and national baselines. Within the Fort Lauderdale-Pompano Beach-Sunrise metro, the neighborhood ranks 83rd out of 345 on crime (lower ranks indicate higher amounts of crime), placing it above the metro average for reported incidents. Nationally, the overall crime profile sits around the 60th percentile for safety, which is modestly better than the national median.
Recent trends are directionally different by category: violent-offense measures have improved year over year, while property-offense measures increased over the same period. For investors, this argues for standard risk controls—lighting, access management, and partnership with professional security vendors—while recognizing that the broader safety trendline is not uniformly negative.
Nearby corporate anchors broaden the employment base and support renter demand through commute convenience, led by AutoNation, Tenet Healthcare, Johnson & Johnson, Office Depot, and Ryder System.
- AutoNation — automotive retail HQ (5.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (11.4 miles)
- Johnson & Johnson — healthcare & consumer products offices (17.1 miles)
- Office Depot — office supply HQ (19.2 miles) — HQ
- Ryder System — logistics & transportation HQ (21.3 miles) — HQ
Constructed in 1972, the property is older than much of the 1970s stock nearby, pointing to potential value-add through interior updates, systems modernization, and exterior enhancements. Neighborhood occupancy is above the national median and competitive within the metro, and a high share of renter-occupied units indicates depth in the tenant base. According to multifamily property research from WDSuite, local ownership costs relative to incomes tend to sustain renter demand, though elevated rent-to-income ratios warrant disciplined renewal strategies.
Within a 3-mile radius, modest population growth and faster household expansion support a larger renter pool over time, complemented by amenity access that aids retention. Safety metrics are mixed—recent improvement in violent-offense measures alongside a near-term rise in property offenses—arguing for continued operational vigilance rather than a thesis shift.
- Competitive neighborhood occupancy with a large renter-occupied base supports leasing stability
- 1972 vintage offers value-add and systems modernization potential to drive NOI
- 3-mile area shows population and household growth, expanding the tenant base
- Proximity to major employers (5–21 miles) underpins workforce demand
- Risks: higher rent-to-income ratios, mixed safety signals, and capex needs for an older asset