| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 64th | Good |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5482 Via Delray, Delray Beach, FL, 33484, US |
| Region / Metro | Delray Beach |
| Year of Construction | 1973 |
| Units | 37 |
| Transaction Date | 2016-09-29 |
| Transaction Price | $5,083,520 |
| Buyer | Via Delray LLC |
| Seller | Via Delray Investments LLC |
5482 Via Delray Delray Beach Multifamily Investment
Neighborhood occupancy is measured for the surrounding area and trends have improved in recent years, while the property s 37 units average 1,005 sq. ft., supporting leaseability for space-seeking renters, according to WDSuite s CRE market data.
Situated in Delray Beach s inner suburban fabric, the property benefits from grocery access within the neighborhood but has fewer destination amenities like restaurants, cafes, parks, and pharmacies. For investors, this typically favors resident convenience over nightlife appeal and can align with workforce and downsizer demand profiles.
The building s 1973 construction is slightly older than the neighborhood s average vintage (1978). That age gap often points to near- to medium-term capital planning for systems and interiors, with potential value-add upside through modernization to improve competitive positioning versus newer stock.
At the neighborhood level, occupancy has trended upward over the past five years but sits below national norms. Median contract rents are above national levels for comparable neighborhoods, while the rent-to-income ratio is relatively moderate, which can support pricing power without overextending resident affordability. These signals are measured for the neighborhood and not the property.
Within a 3-mile radius, population growth has been modest historically with forecasts calling for further expansion in both population and households, alongside rising incomes. The area skews older with a large 65+ cohort, suggesting steady demand from households prioritizing quiet, convenient living; continued household and income growth supports a larger tenant base and can help stabilize occupancy over time. Based on CRE market data from WDSuite, the neighborhood ranks 289th among 319 metro neighborhoods overall, placing it below the metro median but still competitive among West Palm Beach Boca Raton Boynton Beach neighborhoods in several demand drivers.
Safety indicators for the neighborhood are comparatively favorable at the national level, with overall crime rates performing above the U.S. average. Violent offense metrics sit in a high national percentile, and recent year-over-year trends have improved. Property-related offenses show a mixed picture with some recent upward movement, so underwriting should consider building security and operational practices in the context of broader regional patterns. The neighborhood s crime rank is 82 out of 319 metro neighborhoods, which is competitive among West Palm Beach Boca Raton Boynton Beach areas and above many peers nationally.
Nearby employers span corporate headquarters, distribution, and healthcare administration, supporting a diversified commuter base and reinforcing renter demand through commute convenience. The employers below reflect the primary drivers in the immediate area and broader corridor.
- Office Depot corporate headquarters (4.9 miles) HQ
- Tenet Healthcare Corporation, Florida Region healthcare administration (15.0 miles)
- Siegel Financial Group Northwestern Mutual financial services (16.9 miles)
- Sysco Southeast Florida foodservice distribution (20.4 miles)
- AutoNation automotive retail corporate (24.5 miles) HQ
5482 Via Delray offers 37 units averaging 1,005 sq. ft., positioning it competitively for renters seeking larger floor plans in an inner-suburban setting. The 1973 vintage suggests actionable value-add through unit and system upgrades, while neighborhood median rents outpace national levels and the rent-to-income ratio remains relatively moderate a combination that can support rent growth with careful lease management, based on CRE market data from WDSuite.
Neighborhood occupancy has improved over five years but remains below national benchmarks, and renter concentration in the immediate area is limited. Even so, 3-mile demographics point to continued population and household growth with rising incomes, expanding the potential tenant base over the medium term. Investors should balance modernization and operations against an amenity-light micro-location, focusing on convenience, security, and targeted resident services to sustain retention.
- Large average unit sizes support leasing to space-seeking renters
- 1973 vintage provides clear value-add and CapEx planning opportunities
- Neighborhood rents above national levels with moderate rent-to-income support pricing power
- 3-mile forecasts indicate population and household growth, expanding the tenant base
- Risks: below-national neighborhood occupancy, low renter concentration, and amenity-light location