| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 30th | Poor |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 303 18th Pl, Vero Beach, FL, 32960, US |
| Region / Metro | Vero Beach |
| Year of Construction | 1988 |
| Units | 32 |
| Transaction Date | 1997-06-16 |
| Transaction Price | $1,044,000 |
| Buyer | VERO BCH LANDINGS LTD PTNR |
| Seller | KIMOLA INTL INC |
303 18th Pl Vero Beach Multifamily Investment
Amenity-rich inner suburb with a high neighborhood renter-occupied share supporting demand, while area-wide occupancy trends trail stronger Florida metros, according to WDSuite’s CRE market data.
Located in Vero Beach’s inner-suburban fabric, the property benefits from strong daily-needs access. The neighborhood ranks competitively among the 41 Sebastian–Vero Beach neighborhoods for amenities, including top metro access to restaurants, groceries, and pharmacies, and sits in the top quartile nationally for cafe and grocery density. This concentration of services supports resident convenience and leasing appeal.
Renter demand is reinforced by a high neighborhood share of renter-occupied housing units, indicating a deeper tenant base for multifamily. However, the neighborhood 7s overall housing occupancy rate is below national medians, which can create lease-up variability for certain assets. Investors should weigh the depth of the renter pool against local vacancy conditions when underwriting.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue increasing, pointing to a larger tenant base over the medium term. Forecasts also indicate a rising share of renter households locally, which supports occupancy stability for well-positioned properties as more renters enter the market.
Ownership costs remain elevated relative to incomes in the neighborhood context, which tends to sustain reliance on rental housing and can aid lease retention. At the same time, rent-to-income metrics signal some affordability pressure; prudent lease management and amenity-value positioning will matter for pricing power. School rating data is not available for this neighborhood; investors should confirm district performance during diligence.
Based on WDSuite 7s CRE market data, the neighborhood compares favorably to many areas nationwide for overall safety, with violent offense measures placing it in a stronger national cohort. Within the Sebastian–Vero Beach metro (41 neighborhoods), it sits closer to the higher-crime end than several suburban peers, so property-level security and lighting should be part of operating plans.
Trend-wise, both violent and property offense rates have improved year over year, with violent incidents showing a notable decline and property offenses also moving lower. For investors, the combination of improving trends and above-average national standing can support resident retention, while the metro-relative positioning argues for continued attention to visibility, access control, and community engagement.
Regional employment anchors within commuting distance help support workforce housing demand and resident retention, including distribution and aerospace/defense offices listed below.
- CVS Distribution Center — distribution and logistics (9.3 miles)
- Harris — defense & aerospace offices (35.2 miles) — HQ
This 32-unit asset at 303 18th Pl combines everyday convenience with a deep neighborhood renter-occupied base, positioning it to capture demand as the 3-mile radius sees continued population and household growth. Built in 1988, it is newer than the neighborhood 7s average vintage, offering relative competitiveness versus older stock while leaving room for targeted modernization of interiors and building systems to drive rent premiums and reduce near-term capex uncertainty. According to CRE market data from WDSuite, amenity access is a local strength, while area-wide housing occupancy is comparatively soft—suggesting thoughtful leasing strategy and unit differentiation are important.
Investor considerations include sustained rental reliance amid elevated ownership costs relative to incomes, counterbalanced by rent-to-income pressure that calls for careful renewal management and value-focused upgrades. Forward-looking household growth and a rising share of renters in the 3-mile area support a stable tenant pipeline for well-managed multifamily.
- Newer 1988 vintage versus local average, with value-add modernization potential
- Strong amenity access (food, grocery, pharmacy) supports leasing and retention
- 3-mile population and household growth expand the tenant base over time
- Elevated ownership costs reinforce multifamily demand in the neighborhood
- Risks: area-wide occupancy is softer and rent-to-income pressure requires disciplined pricing and renewal strategy