| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 71st | Good |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1150 SW 2nd Ave, Boca Raton, FL, 33432, US |
| Region / Metro | Boca Raton |
| Year of Construction | 1974 |
| Units | 102 |
| Transaction Date | 2018-10-31 |
| Transaction Price | $16,800,000 |
| Buyer | Boca Islands East, LLC |
| Seller | Realm 102, LLC |
1150 SW 2nd Ave Boca Raton Multifamily Opportunity
Neighborhood occupancy sits in the mid-90s and has trended upward over five years, according to WDSuite's CRE market data, pointing to durable renter demand in Boca Raton's inner-suburban core.
The property is positioned in an Inner Suburb of Boca Raton with a B+ neighborhood rating and a metro rank of 89 out of 319, indicating it is competitive among West Palm Beach Boca Raton Boynton Beach neighborhoods. Based on CRE market data from WDSuite, neighborhood occupancy is in the top quartile among 319 metro neighborhoods and has improved modestly over the past five years a constructive backdrop for lease stability.
Local amenity density favors daily-needs convenience more than dining or cafe options. Grocery and pharmacy access test in the 80s percentile nationally, and park availability scores in the 90s, supporting resident livability and retention. Restaurant and cafe counts are comparatively light, which may reduce walk-to-dining appeal but does not detract from essentials-driven accessibility.
Elevated home values (95th percentile nationally) signal a high-cost ownership market in the immediate area, which can reinforce reliance on multifamily housing and support pricing power when paired with effective lease management. At the same time, rent-to-income levels benchmark favorably (above the metro median), suggesting room for sustained occupancy and measured rent growth without outsized affordability pressure.
Within a 3-mile radius, demographics show a larger and expanding renter pool: population and households have grown in recent years, with forecasts through 2028 indicating further gains in households and incomes. Around two-fifths of housing units in this 3-mile area are renter-occupied, providing a meaningful tenant base for a 100+ unit community, which can underpin absorption and renewal performance.
Safety indicators are mixed yet generally favorable in broader comparisons. Overall crime performance sits above national averages (59th percentile), and violent-offense metrics are strong, testing in the higher national percentiles. Within the metro, the neighborhood's crime rank is mid-pack (146 out of 319), indicating it is near the metro median.
Recent data show a one-year uptick in property offenses in the broader area, which investors may want to monitor as part of ongoing asset management and security planning. Trend direction and sub-type composition matter more than single-year readings; WDSuite's CRE data supports using a comparative, multi-year view when evaluating risk and mitigation needs.
Nearby employers include Office Depot, Tenet Healthcare, AutoNation, Siegel Financial Group (Northwestern Mutual), and Sysco. This mix of headquarters and regional offices supports a diverse white-collar employment base and commuter convenience that can stabilize renter demand.
- Office Depot — corporate offices (4.8 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (12.0 miles)
- AutoNation — corporate offices (15.5 miles) — HQ
- Siegel Financial Group - Northwestern Mutual — financial services (25.8 miles)
- Sysco Southeast Florida — foodservice distribution (29.5 miles)
This 100+ unit asset benefits from neighborhood occupancy in the mid-90s, a deep 3-mile renter base, and strong daily-needs access (grocery, pharmacy, and parks) that supports retention. Elevated ownership costs nearby point to sustained reliance on rentals, while rent-to-income levels remain manageable, creating room for disciplined revenue management without overextending affordability. According to CRE market data from WDSuite, the area ranks competitively within the metro and has shown steady occupancy improvement, aligning with long-term leasing stability.
Key watch items include lighter restaurant/cafe density and a recent uptick in property offenses in the broader area; both can be addressed through amenity programming, security planning, and targeted marketing to nearby employment centers. Overall, fundamentals suggest a stable, essentials-oriented renter profile with scope for steady cash flow performance.
- Neighborhood occupancy sits in the top quartile among 319 metro neighborhoods, supporting lease stability.
- High-cost ownership market reinforces renter reliance, while rent-to-income benchmarking supports pricing discipline.
- 3-mile demographics indicate population and household growth, expanding the tenant base.
- Risks: lighter dining/cafe density and a recent rise in property offenses warrant targeted operating strategies.