| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 68th | Good |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9866 Viburnum Tree Dr, Boynton Beach, FL, 33436, US |
| Region / Metro | Boynton Beach |
| Year of Construction | 1989 |
| Units | 28 |
| Transaction Date | 2019-02-04 |
| Transaction Price | $51,800,000 |
| Buyer | KMF XII BOYNTON BEACH LLC |
| Seller | BEL LAWRENCE HOLDINGS LLC |
9866 Viburnum Tree Dr Boynton Beach Multifamily Investment
Inner-suburban Boynton Beach shows solid renter demand supported by strong food and grocery amenity density and a high-cost ownership landscape, according to WDSuite’s CRE market data. The area’s safety profile and income levels underpin leasing potential while investors should underwrite selectively to neighborhood occupancy trends.
Located in an Inner Suburb of the West Palm Beach–Boca Raton–Boynton Beach metro, the neighborhood rates a B and stands above the metro median overall (ranked 120 among 319 neighborhoods). Dining and daily-needs access are strengths: restaurants and cafes are in the top decile nationally, and grocery density is similarly strong, which supports convenience-driven renter appeal. Park and pharmacy counts are limited locally, so on-site amenities and services may play a larger role in retention.
Construction in the immediate area skews early-1980s on average, while this property was built in 1989. That slightly newer vintage can be competitively positioned against older stock, though planning for aging systems and targeted modernization remains prudent for value preservation.
Neighborhood occupancy runs below national norms (20th percentile nationally), so lease-up and renewal strategies should focus on differentiators such as unit upgrades and amenity programming. At the same time, NOI per unit in the neighborhood trends competitive (around the 71st percentile nationally), suggesting well-operated assets can capture reasonable margins versus broader CRE benchmarks.
Within a 3-mile radius, population grew over the past five years with households up as well, expanding the potential tenant base. The area shows a renter-occupied share near one-quarter of housing units, indicating a moderate renter concentration that can support steady demand for multifamily while still competing with ownership options. Elevated home values relative to incomes indicate a high-cost ownership market that tends to reinforce reliance on rental housing and can aid pricing power where unit quality is compelling.
Safety metrics compare favorably. The neighborhood ranks within the top quartile among 319 metro neighborhoods for lower crime, and violent-offense conditions are strong at roughly the 96th percentile nationally, indicating comparatively safer dynamics versus most U.S. neighborhoods. Property offenses also track better than average (mid-70s percentile nationally) with recent year-over-year improvement.
As always, investors should evaluate property-level measures and recent local trends, but current readings suggest conditions that support tenant retention and day-to-day livability relative to regional alternatives.
Proximity to regional employers supports workforce housing demand and commute convenience, particularly to office, logistics, and healthcare nodes including Office Depot, Northwestern Mutual (Siegel Financial Group), Sysco Southeast Florida, Tenet Healthcare’s Florida region office, and NextEra Energy.
- Office Depot — corporate offices (8.6 miles) — HQ
- Siegel Financial Group - Northwestern Mutual — financial services offices (13.0 miles)
- Sysco Southeast Florida — foodservice distribution (16.6 miles)
- Tenet Healthcare Corporation, Florida Region — healthcare administration offices (18.8 miles)
- NextEra Energy — energy & utilities corporate offices (23.0 miles) — HQ
This 28-unit, 1989-vintage asset benefits from strong daily-needs accessibility and a high-cost ownership landscape that supports rental demand. Based on CRE market data from WDSuite, neighborhood NOI per unit trends are competitive versus national peers, while safety indicators rank well both locally and nationally—favorable context for retention and lease stability. The vintage is slightly newer than the area’s early-1980s average, offering relative competitiveness versus older stock; investors should still plan for selective modernization and system updates common to late-1980s construction.
Within a 3-mile radius, recent population growth and an increase in households expand the renter pool, with median rents tracking in the mid-$1,600s and incomes supportive of payments. Neighborhood occupancy sits below national norms, so execution will matter: thoughtful renovations, amenity strategy, and disciplined pricing can help sustain demand and mitigate downtime.
- Amenity-rich inner-suburban location supports demand and everyday convenience.
- 1989 vintage offers a competitive edge versus older local stock with targeted upgrades.
- Favorable safety profile and competitive neighborhood NOI per unit support retention and margins.
- Expanding households within 3 miles increase the tenant base and leasing prospects.
- Risk: Neighborhood occupancy is below national norms; performance depends on renovation scope, amenity positioning, and pricing discipline.