| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 30th | Poor |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1725 6th Ave, Vero Beach, FL, 32960, US |
| Region / Metro | Vero Beach |
| Year of Construction | 1972 |
| Units | 80 |
| Transaction Date | 2019-07-31 |
| Transaction Price | $6,205,000 |
| Buyer | SUNQUEST APARTMENTS LLC |
| Seller | SUNQUEST INC |
1725 6th Ave Vero Beach Multifamily Value-Add Opportunity
Neighborhood data points to a deep renter base supporting demand, according to WDSuite’s CRE market data, while current conditions suggest disciplined lease management can unlock upside.
Situated in Vero Beach’s inner-suburban fabric, the property benefits from amenity density that ranks in the top quartile among 41 Sebastian–Vero Beach neighborhoods. Cafes, grocery, restaurants, parks, and pharmacies all benchmark strongly versus national peers, supporting resident convenience and competitive positioning for a workforce-oriented renter base.
The neighborhood’s renter-occupied share is elevated (51.9%), indicating a substantial tenant pool for multifamily. By contrast, within a 3-mile radius the renter share is lower today but projected to increase over the next five years, implying a larger tenant base and supporting occupancy stability over time. Median contract rents in the 3-mile area have risen in recent years and are forecast to continue growing, while neighborhood rent levels sit near metro medians, suggesting room for thoughtful repositioning rather than premium pricing out of the gate.
Construction in 1972 makes the asset older than the neighborhood’s average vintage (1980), pointing to targeted capital expenditure needs. That age profile can support value-add strategies such as interior upgrades and system modernization to narrow the competitive gap with newer stock, particularly given strong local amenity access and renter concentration.
Household and population trends within a 3-mile radius show growth historically and are projected to accelerate, which supports a larger tenant base and leasing resilience. Elevated value-to-income dynamics in the neighborhood and rising regional rents can reinforce renter reliance on multifamily housing; however, a higher rent-to-income ratio locally indicates potential affordability pressure, so operators should balance renovations with retention-focused pricing.
Safety metrics are mixed but improving. The neighborhood’s crime rank is toward the higher-crime end within the Sebastian–Vero Beach metro (ranked 5 among 41), yet it compares favorably to many U.S. neighborhoods overall (national safety percentile near the upper third). Recent trends are constructive: estimated violent incidents have declined sharply year over year, placing the area in the top decile nationally for improvement, and property incidents show a meaningful downward shift as well.
For investors, this trajectory suggests monitoring remains prudent, but recent declines and solid national standing—particularly on violent offenses—can support leasing stability and resident retention relative to similarly priced submarkets.
Nearby employers provide a diversified commute shed that can underpin renter demand and retention, with logistics and defense/aerospace roles accessible within reasonable driving distance.
- CVS Distribution Center — distribution & logistics (8.9 miles)
- Harris — defense & aerospace offices (35.1 miles) — HQ
This 80-unit, 1972-vintage asset aligns with a value-add thesis in a neighborhood with strong amenity access and a sizable renter-occupied base. While neighborhood occupancy trends sit below the metro median, renter concentration and projected growth in the 3-mile renter pool support long-term demand. According to WDSuite’s CRE market data, local rent levels and rising regional incomes indicate potential to capture measured rent lifts with targeted renovations and disciplined leasing.
Key considerations include managing affordability pressure—given higher rent-to-income dynamics at the neighborhood level—while leveraging amenity proximity and employer access to support retention. Capital planning should prioritize interiors and aging systems to strengthen competitive positioning versus newer stock.
- Value-add potential from 1972 vintage via interiors and systems updates
- Deep neighborhood renter base with projected 3-mile renter pool expansion
- Strong amenity access supports leasing and resident convenience
- Data-backed rent growth runway relative to regional trends
- Risk: Below-metro occupancy and affordability pressure require careful pricing and retention tactics