| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Fair |
| Demographics | 54th | Fair |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 Stonehaven Dr, Boynton Beach, FL, 33436, US |
| Region / Metro | Boynton Beach |
| Year of Construction | 1985 |
| Units | 80 |
| Transaction Date | 2009-12-11 |
| Transaction Price | $18,800,000 |
| Buyer | ADVENIR & BANYAN LLC |
| Seller | BANYAN LAKE INVESTORS LLC |
1500 Stonehaven Dr Boynton Beach Multifamily Investment
Renter demand is supported by strong neighborhood retail access and a rent-to-income profile that suggests manageable affordability, according to WDSuite s CRE market data. Investors should view this asset as a stable suburban play with operational upside tied to targeted upgrades and leasing execution.
Located in Boynton Beach s inner suburbs (B neighborhood rating), the property sits in a submarket with solid daily conveniences: grocery access ranks in the top decile nationally, while pharmacies are also plentiful. Restaurant density trends above national medians, though parks, cafes, and childcare are limited in the immediate area, which may affect lifestyle positioning but not core leasing fundamentals.
Neighborhood rent levels trend above national norms, while the area s rent-to-income ratio indicates relatively lighter affordability pressure an element that can support retention and measured pricing power for well-managed assets. The local renter-occupied share is competitive among West Palm Beach Boca Raton Boynton Beach neighborhoods, signaling a meaningful tenant base without overreliance on any single cohort.
Occupancy at the neighborhood level sits below national benchmarks, so near-term leasing and renewal strategy will matter for stability. That said, a 3-mile radius shows population and household growth over the past five years with further expansion forecast, pointing to a gradually larger tenant pool that can support occupancy over time. These demographic statistics are aggregated within a 3-mile radius and, based on CRE market data from WDSuite, align with continued demand for quality suburban rentals.
The asset s 1985 vintage is modestly older than the neighborhood average construction year, suggesting value-add or systems modernization opportunities to enhance competitive positioning against newer stock while planning for targeted capital expenditures.
Relative to neighborhoods nationwide, this area trends above average for safety overall, with violent and property offense metrics positioned in stronger national percentiles. Within the West Palm Beach Boca Raton Boynton Beach metro, the neighborhood s safety profile is competitive among 319 neighborhoods. Recent data shows a short-term uptick in property-related incidents, so prudent operators may wish to monitor trends and reinforce standard security practices.
Nearby employers span headquarters, healthcare, and distribution, supporting a diversified renter base and commute-friendly appeal for workforce households. The list below focuses on employers most likely to influence leasing and retention from this location.
- Office Depot corporate offices (8.1 miles) HQ
- Siegel Financial Group Northwestern Mutual financial services (13.4 miles)
- Sysco Southeast Florida foodservice distribution (17.1 miles)
- Tenet Healthcare Corporation, Florida Region healthcare administration (18.8 miles)
- NextEra Energy utilities & energy (23.5 miles) HQ
An 80-unit, 1985-vintage asset in an inner-suburban Boynton Beach location positions investors to capture steady renter demand backed by strong grocery and pharmacy access and rent levels that outpace national medians. The neighborhood s lower occupancy relative to national benchmarks places a premium on execution, but favorable rent-to-income dynamics and a growing 3-mile tenant base support retention and leasing stability, according to commercial real estate analysis from WDSuite.
The 1985 construction year points to value-add potential and targeted capital planning to elevate interiors and address aging systems, improving competitive posture versus newer stock. With a diversified employer base within commuting range and ownership costs that remain elevated for the area, well-managed communities can translate demand depth into consistent operations while keeping an eye on leasing velocity and demographic shifts.
- Inner-suburban location with strong daily conveniences and above-median rents supporting revenue durability.
- 1985 vintage creates value-add and systems modernization opportunities to enhance competitiveness.
- 3-mile population and household growth expand the renter pool, supporting occupancy over time.
- Favorable rent-to-income profile aids retention and measured pricing power for disciplined operators.
- Risks: neighborhood occupancy trails national norms; recent property-crime uptick warrants monitoring and active asset management.