| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 60th | Fair |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 800 Emma St, Key West, FL, 33040, US |
| Region / Metro | Key West |
| Year of Construction | 1991 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
800 Emma St, Key West Multifamily Investment
Positioned in a high-cost ownership market, this Key West asset benefits from durable renter demand and steady household formation nearby, according to WDSuite’s CRE market data. Investor focus centers on maintaining occupancy and pricing discipline while leveraging the neighborhood’s amenity access and tourism-driven economy.
Located in an Urban Core pocket of Key West, the neighborhood rates B and is competitive among the 27 Key West neighborhoods on overall livability. Restaurant density ranks first out of 27 locally and sits in the top quartile nationally, while parks and pharmacies also score near the top of both the metro and national distributions. Day-to-day services like groceries, cafes, and childcare are thinner within the immediate area, which may influence tenant convenience expectations.
Neighborhood-level occupancy measures are lower than many areas nationally and within the metro; these are neighborhood statistics, not property performance. Investors typically address this backdrop through targeted leasing and retention programs that emphasize location, access to employment, and lifestyle amenities.
Within a 3-mile radius, households have increased over the past five years and are projected to keep rising as average household size trends smaller. This pattern points to a larger tenant base and more singles/couples entering the market—supportive for multifamily absorption and lease-up velocity. Home values in the neighborhood sit well above national norms, signaling a high-cost ownership market that tends to reinforce reliance on rental housing and can bolster pricing power when paired with thoughtful lease management and renewals.
The renter-occupied share in the neighborhood indicates a meaningful, though not dominant, renter concentration—useful for demand depth but still requiring competitive positioning versus scattered-site and small-lot alternatives common in coastal markets. In this context, commercial real estate analysis should emphasize unit mix, finish levels, and operational execution to capture steady demand.
Comparable crime metrics for this specific neighborhood are not reported in WDSuite for the latest period, limiting direct rank or percentile comparisons. Investors generally contextualize safety by reviewing broader Key West trends and observed building operations, then aligning on-site practices with resident expectations common to amenity-rich coastal urban districts.
Built in 1991, the 52-unit property is newer than the neighborhood’s older housing stock, offering relative competitiveness versus legacy assets while still presenting potential modernization or systems updates. The broader neighborhood shows strong restaurant, park, and pharmacy access alongside limited groceries and childcare nearby—an operational consideration for resident experience. According to CRE market data from WDSuite, neighborhood home values are elevated relative to incomes, a dynamic that typically supports sustained renter demand and retention for well-run multifamily assets.
Within a 3-mile radius, household growth and smaller household sizes point to renter pool expansion and ongoing demand for professionally managed units. At the neighborhood level, occupancy trends are softer than many areas, so the investment case leans on disciplined operations, clear value proposition versus older stock, and measured rent strategies that balance rent-to-income considerations with renewal stability.
- Newer 1991 vintage versus older local stock, with potential value-add through targeted updates.
- High-cost ownership environment supports renter reliance and underpins demand for quality rentals.
- 3-mile household growth and shrinking household size expand the tenant base and support occupancy stability.
- Amenity-rich setting (restaurants, parks, pharmacies) enhances resident appeal; limited groceries/childcare nearby is an operational consideration.
- Risk: neighborhood-level occupancy runs softer, requiring focused leasing, renewals, and pricing discipline to sustain performance.