| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 38th | Poor |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3401 NW 3rd Ave, Pompano Beach, FL, 33064, US |
| Region / Metro | Pompano Beach |
| Year of Construction | 1972 |
| Units | 33 |
| Transaction Date | 2015-11-06 |
| Transaction Price | $341,600 |
| Buyer | CMIF PALM ISLAND LLC |
| Seller | SAMPLE APTS LLC |
3401 NW 3rd Ave Pompano Beach Multifamily Investment
Neighboring blocks show renter-heavy housing and steady occupancy at the neighborhood level, supporting stable tenant demand according to WDSuite’s CRE market data. This analyst-style commercial real estate analysis points to durable workforce demand drivers with room for value-add execution.
Situated in Pompano Beach’s inner-suburban fabric, the property benefits from a renter-oriented neighborhood profile. Renter-occupied housing accounts for a high share of units locally (ranked 8th among 345 metro neighborhoods), indicating a deep tenant base relative to the wider Fort Lauderdale–Pompano Beach–Sunrise metro. Neighborhood occupancy trends are near mid-pack in the metro and middle of the range nationally, which suggests manageable lease-up risk rather than outsized vacancy exposure, based on CRE market data from WDSuite. Note: these occupancy and tenure metrics describe the neighborhood, not the property.
Amenity access is mixed. Restaurant density is competitive among Fort Lauderdale–Pompano Beach–Sunrise neighborhoods (rank 60 of 345, top quartile nationally), while cafes, groceries, parks, and pharmacies are relatively sparse at the block-group level. For investors, this points to everyday services reachable by short drives rather than heavy walk-to convenience, which tends to favor residents with cars and supports workforce housing positioning.
The 1972 vintage is slightly older than the neighborhood’s typical construction year (mid-1970s). This age profile often aligns with value-add opportunities around unit interiors, building systems, and common areas. Targeted capital planning can improve relative competitiveness versus newer inventory while preserving the workforce price point that underpins absorption and retention.
Within a 3-mile radius, population and household counts have expanded in recent years, with forecasts pointing to additional population growth and a sizable increase in households alongside gradually smaller average household sizes. This combination generally expands the renter pool and supports occupancy stability and leasing velocity. Median contract rents in the neighborhood sit above many national peers (around the 79th percentile), reinforcing the need for attentive lease management and product differentiation to sustain pricing without elevating turnover.
Home values in the neighborhood benchmark below many areas nationally (around the 26th percentile). In investor terms, comparatively lower ownership costs can create some competition with entry-level ownership, making resident retention and community programming important parts of the operating playbook. Conversely, the neighborhood’s strong renter concentration helps maintain demand depth for multifamily units.
Neighborhood safety indicators are mixed relative to metro and national baselines. Overall crime positioning sits below the metro median (ranked 231 of 345), and national comparisons place the area below average for safety. However, property offense rates have been trending down year over year, which is a constructive directional signal for operators monitoring on-site security and resident satisfaction. All figures reflect neighborhood-level conditions rather than the property itself.
Violent offense measures benchmark in lower national percentiles, while recent improvement in property offenses suggests incremental progress. Investors commonly respond with practical measures—lighting, access control, and community engagement—to support retention and on-site experience, calibrated to actual incident trends.
Nearby employment anchors span corporate headquarters, healthcare administration, and logistics, supporting a broad commuter base that aligns with workforce housing and can aid leasing stability for multifamily properties serving Pompano Beach and adjacent corridors. The organizations below reflect the most proximate drivers referenced in this analysis.
- Office Depot — corporate headquarters, office supplies (9.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (9.7 miles)
- AutoNation — automotive retail corporate headquarters (10.6 miles) — HQ
- Johnson & Johnson — healthcare and consumer products offices (27.5 miles)
- Ryder System — logistics and fleet management (32.1 miles) — HQ
This 33-unit, 1972-vintage asset sits in a renter-dense inner-suburban pocket where neighborhood occupancy trends are steady and restaurant amenities are competitive within the metro. The building’s age creates clear value-add pathways—interiors and systems—to enhance positioning against newer stock while remaining accessible to the broad workforce renter base. According to CRE market data from WDSuite, the local neighborhood ranks near the top of the metro for renter concentration, supporting depth of demand and lease continuity.
Forward-looking household growth within a 3-mile radius and modestly smaller household sizes point to incremental renter pool expansion, which can support occupancy stability and reduce lease-up risk for refreshed units. Balanced execution should weigh pricing power against affordability pressures seen in neighborhood rent-to-income levels and consider the submarket’s limited walk-to daily services by emphasizing convenience, parking, and on-site amenities.
- Renter-heavy neighborhood (top-tier metro rank) supports depth of tenant demand and leasing stability.
- 1972 vintage offers tangible value-add levers in interiors, building systems, and common areas.
- 3-mile radius shows growth in households and a gradually smaller household size, expanding the renter pool.
- Competitive restaurant density within the metro; car-oriented daily needs can be addressed via parking and on-site conveniences.
- Key risks: affordability pressure (rent-to-income), below-median safety positioning, and limited walk-to services; mitigate through targeted upgrades, security, and tenant retention programs.