| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 68th | Best |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2731 N Andrews Ave, Wilton Manors, FL, 33311, US |
| Region / Metro | Wilton Manors |
| Year of Construction | 1972 |
| Units | 90 |
| Transaction Date | 2021-08-25 |
| Transaction Price | $30,160,000 |
| Buyer | ANDREWS AVE APARTMENTS LLC |
| Seller | 2701 NORTH ANDREWS PROPERTY OWNER LLC |
2731 N Andrews Ave Wilton Manors Multifamily Value-Add
Neighborhood occupancy has trended upward and renter demand is supported by a high-cost ownership market, according to WDSuite's CRE market data. Median rents run elevated for the metro while home values are well above national norms, which can sustain leasing stability for well-positioned units.
Located in Wilton Manors within the Fort Lauderdale–Pompano Beach–Sunrise metro, the area holds a B+ neighborhood rating and functions as an inner-suburb renter hub. Grocery access is competitive among Fort Lauderdale–Pompano Beach–Sunrise neighborhoods (ranked 36 of 345; 96th percentile nationally), and restaurants also compare well within the metro (109 of 345; 89th percentile nationally). By contrast, the neighborhood has fewer cafes and park spaces, so daily needs skew toward grocers, pharmacies, and nearby commercial corridors rather than boutique amenities.
Neighborhood occupancy sits near the national midpoint and has improved over the past five years, which supports underwriting for steady lease-up and retention. The share of housing units that are renter-occupied is above national norms, indicating depth in the tenant pool, while 3-mile demographics (aggregated within a 3-mile radius) show recent population growth and an increase in households, expanding the near-term renter base.
The property's 1972 vintage is slightly older than the neighborhood's average year built, pointing to typical value-add opportunities around interiors, common areas, and building systems. Well-executed renovations can position the asset competitively versus newer stock while capturing demand from households seeking more accessible rental options relative to ownership.
Home values are elevated (top quintile nationally) and the value-to-income ratio ranks high versus U.S. neighborhoods, which reinforces reliance on rental housing and can support pricing power for renovated units. Median household incomes are solid for the metro, and rent-to-income levels indicate manageable affordability pressure that can aid renewal prospects when paired with disciplined lease management.
Safety readings are mixed and sit below the national midpoint overall, with the neighborhood ranked 207 out of 345 within the metro. Nationally, the area trends below average for violent incidents and closer to the middle for property offenses. Recent year-over-year estimates indicate increases in both violent and property offenses; investors should underwrite conservatively and consider measures that support resident confidence and retention.
Relative to other Fort Lauderdale–Pompano Beach–Sunrise neighborhoods, these results place the area below the metro median. Operational focus on lighting, access controls, and community engagement can help maintain stability and meet lender and insurer expectations.
Proximity to a diversified employment base supports workforce housing demand and commuting convenience, notably with regional headquarters and corporate offices including AutoNation, Tenet Healthcare, Office Depot, Johnson & Johnson, and Ryder System.
- AutoNation — corporate offices (2.9 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (12.8 miles)
- Office Depot — corporate offices (16.8 miles) — HQ
- Johnson & Johnson — corporate offices (20.0 miles)
- Ryder System — logistics corporate offices (25.0 miles) — HQ
Built in 1972, this 90-unit property presents a clear value-add thesis: modernize interiors and common areas to compete effectively in a neighborhood where occupancy has improved and renter demand is reinforced by a high-cost ownership market. Based on CRE market data from WDSuite, neighborhood occupancy trends are directionally positive while rents benchmark above many peer areas, supporting stabilized operations for renovated units.
Within a 3-mile radius, recent population gains and a larger household count point to a growing renter pool, with average household size trending smaller over time. Elevated home values relative to incomes sustain reliance on rental housing, and proximity to multiple corporate employers should continue to support leasing velocity and renewal potential.
- Value-add upside from a 1972 vintage through targeted interior and systems upgrades
- Occupancy has improved and rents compare well in the metro, supporting stabilized cash flow potential
- High-cost ownership market supports renter demand and pricing power for renovated units
- Nearby corporate employers underpin workforce housing demand and retention
- Risks: below-median safety within the metro and limited boutique amenities (cafes/parks) may require operational focus