| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Poor |
| Demographics | 68th | Good |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5600 Atlantic Ave, Delray Beach, FL, 33484, US |
| Region / Metro | Delray Beach |
| Year of Construction | 1998 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5600 Atlantic Ave, Delray Beach Multifamily Investment
1998-vintage, 20-unit asset in an owner-heavy inner suburb where household growth and rising incomes point to a stable tenant base, according to WDSuite’s CRE market data. Positioning focuses on durable occupancy and pragmatic value-add rather than lease-up risk.
Located in an Inner Suburb of Delray Beach, the property sits in a largely owner-occupied neighborhood with a relatively small renter pool. That dynamic can support steadier tenancy for appropriately sized communities, though lease-ups may draw from a narrower base than core renter districts.
Access to daily-needs retail is a local strength: pharmacy density is among the highest nationally, while restaurant options are competitive for the metro. By contrast, cafes, groceries, and parks are less concentrated within the neighborhood; investors should underwrite convenience by emphasizing nearby corridors and drive-time amenities rather than immediate walkability.
Within a 3-mile radius, demographic data show population growth over the past five years with further gains projected by 2028, alongside a meaningful increase in households. This points to a larger tenant base and supports occupancy stability for well-run assets. Income levels have also trended upward, which can help rent collections, though pricing should remain aligned with local value perception to sustain retention.
Neighborhood rents are positioned in the upper tiers relative to many areas nationally, and the rent-to-income ratio indicates some affordability pressure. For investors, this argues for disciplined renewal strategies and amenity-light value-add that enhances livability without overreaching on premiums — an approach consistent with multifamily property research best practices.
The subject’s 1998 construction is newer than the neighborhood average stock (late-1980s). That positioning can be competitive against older comparables, while still warranting attention to systems maintenance and selective modernization for long-term durability.
Safety indicators are mixed but broadly favorable on serious incidents: the neighborhood’s violent offense levels track in the top tier nationally, while property offenses are better than the national midpoint. Overall crime sits around the national middle, suggesting conditions comparable to many suburban areas.
Recent year-over-year changes show some volatility in incident trends; investors should monitor updated readings and emphasize standard lighting, access control, and sightline practices to support resident comfort and retention. Comparisons reference neighborhoods nationwide and are not block-specific.
Proximity to regional employers supports commute convenience and leasing stability, with a mix of headquarters, healthcare administration, and logistics offices within a ~30-mile radius: Office Depot, Tenet Healthcare, Siegel Financial Group, Sysco Southeast Florida, and AutoNation.
- Office Depot — corporate offices (3.7 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (13.95 miles)
- Siegel Financial Group - Northwestern Mutual — financial services (18.13 miles)
- Sysco Southeast Florida — food distribution (21.62 miles)
- AutoNation — automotive retail corporate (23.20 miles) — HQ
This 20-unit, 1998-built community offers a practical entry to Delray Beach’s inner-suburban fundamentals. The immediate neighborhood is heavily owner-occupied, which typically narrows the active renter pool but can support steadier tenancy for smaller assets. Within a 3-mile radius, population and household counts are expanding with higher incomes, indicating a growing tenant base and support for occupancy. According to CRE market data from WDSuite, local rents sit on the higher side relative to much of the country, so retention-focused pricing and targeted upgrades are key.
Vintage is newer than the area’s late-1980s average, giving a competitive edge versus older stock while guiding capital plans toward systems upkeep and selective interior refresh. Employment anchors within commuting range add demand depth, and daily-needs access is strong despite limited immediate café/grocery concentration. Underwriting should account for affordability pressure and neighborhood-level occupancy softness relative to stronger metro submarkets.
- Newer 1998 vintage versus nearby stock, enabling competitive positioning with targeted modernization
- Expanding 3-mile household base and rising incomes support tenant demand and renewal stability
- Daily-needs access and proximity to major employers underpin leasing and commute convenience
- Pricing power is possible, but manage rent-to-income to protect retention and minimize turnover
- Risks: neighborhood-level occupancy softness and thinner immediate amenity mix versus core renter districts