| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 86th | Best |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5614 Wellesley Park Dr, Boca Raton, FL, 33433, US |
| Region / Metro | Boca Raton |
| Year of Construction | 1987 |
| Units | 106 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5614 Wellesley Park Dr Boca Raton Multifamily Investment Outlook
Neighborhood fundamentals point to steady renter demand and improving occupancy, according to WDSuite’s CRE market data. A high-cost ownership market supports lease retention, while a sizable share of renter-occupied units in the neighborhood indicates depth of the tenant base.
This Inner Suburb location in Boca Raton balances quiet residential streets with access to regional employment and parks. Neighborhood park access ranks competitively (top quartile nationally), while immediate walkability to daily retail is limited, suggesting residents rely on short drives for groceries, pharmacies, and dining.
From an investor lens, the neighborhood 9s median home values sit toward the top of the metro distribution and in the upper tail nationally, which reinforces reliance on multifamily housing and can support pricing power for well-maintained assets. Neighborhood rent-to-income sits on the lower side compared with many U.S. areas, pointing to manageable affordability pressure and aiding lease retention.
Construction vintage in the area averages early 1980s. With a 1987 build, the property is somewhat newer than the local average, which can enhance competitive positioning versus older stock, though investors should plan for aging systems and targeted modernization to meet current renter expectations.
Occupancy in the neighborhood is around the metro middle but has improved over the last five years, supporting a stable operating backdrop (measured at the neighborhood level, not the property). Approximately half of housing units are renter-occupied in the neighborhood, indicating a solid renter concentration and depth of demand for multifamily. Within a 3-mile radius, recent population and household growth has been positive, with forecasts calling for additional expansion by 2028, implying a larger tenant base and support for sustained occupancy. These trends align with broader Southeast Florida strength noted in WDSuite 9s multifamily property research.
Safety indicators are comparatively favorable for the area. The neighborhood 9s crime rank sits above the metro median among 319 neighborhoods, and violent-offense measures are in the top quartile nationally, indicating comparatively safer conditions versus many U.S. neighborhoods. These metrics are neighborhood-level and should not be interpreted as property-specific conditions.
Recent trends show a modest year-over-year decline in property offenses alongside generally stable conditions, according to WDSuite 9s data. As with any infill suburban setting, outcomes vary by block and property operations; investors typically focus on lighting, access control, and resident screening to support on-site safety.
Nearby corporate anchors provide a diversified employment base that supports renter demand and retention, led by retail headquarters, healthcare administration, automotive corporate, financial services, and foodservice distribution within commuting distance.
- Office Depot — retail corporate (4.7 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (9.2 miles)
- AutoNation — automotive retail corporate (15.0 miles) — HQ
- Siegel Financial Group - Northwestern Mutual — financial services (26.2 miles)
- Sysco Southeast Florida — foodservice distribution (29.8 miles)
The investment case centers on durable renter demand in a high-cost ownership pocket of Boca Raton, improving neighborhood occupancy, and a 1987 vintage that is slightly newer than the area 9s average stock. Within a 3-mile radius, both population and households have grown in recent years with further expansion projected, which should widen the tenant base and support occupancy stability. According to CRE market data from WDSuite, neighborhood rents align with higher-income fundamentals while rent-to-income remains comparatively manageable, helping sustain retention for quality assets.
Capital planning should account for mid-life building systems and selective renovations to compete with newer supply. Limited immediate walkable retail suggests resident convenience is car-oriented, but regional access and nearby employers underpin leasing consistency typical of inner suburban South Florida.
- High-cost ownership market reinforces reliance on rentals, supporting pricing power and lease retention.
- Neighborhood occupancy has improved over the past cycle, indicating stable operating conditions.
- 1987 vintage offers a slight competitive edge versus older stock, with value-add potential through modernization.
- 3-mile radius demographics point to continued renter pool expansion, supporting demand for multifamily units.
- Risks: car-oriented convenience and mid-life building systems require active asset management and targeted capex.