| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 21st | Poor |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4655 Wellman Trl, Greenacres, FL, 33463, US |
| Region / Metro | Greenacres |
| Year of Construction | 1980 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4655 Wellman Trl Greenacres Multifamily Value-Add Opportunity
Neighborhood occupancy is competitive within the West Palm Beach–Boca Raton–Boynton Beach metro and rents sit above national midpoints, according to CRE market data from WDSuite. Investors should view the area as demand-supported with room for operational upgrades at this scale.
Positioned in an inner-suburban pocket of Greenacres, the property benefits from everyday convenience: grocery access and parks score well versus national peers, while restaurant density is also strong. Cafe and pharmacy footprints are thinner, suggesting a service mix geared more to essentials than boutique retail. At the metro level, the neighborhood’s overall standing sits above the median in amenities but not in the top tier, offering practical livability for workforce renters.
Occupancy in the neighborhood is in the top quartile among 319 metro neighborhoods, a constructive signal for lease-up and retention. Median contract rents track around the upper tier nationally, reinforcing pricing power when operations are well executed. Based on CRE market data from WDSuite, these dynamics indicate steady renter demand rather than volatility-driven swings.
Tenure is mixed with a meaningful share of renter-occupied housing units, providing a durable tenant base without over-reliance on rentals. Within a 3-mile radius, households and families have grown in recent years and are projected to expand further, pointing to a larger tenant pool and support for occupancy stability. Median household incomes have risen, which helps manage rent-to-income levels and supports renewal probabilities.
Home values in the immediate neighborhood remain more accessible compared with higher-cost metros, which may create some competition from ownership options. For multifamily owners, this typically shifts emphasis toward product quality, resident experience, and value proposition to sustain rent growth and reduce turnover. School ratings trend below national midpoints, a factor to consider for family-oriented leasing strategies.
Safety indicators compare favorably at the national level: violent offense rates are in a high national percentile (safer than most neighborhoods nationwide), and property crime sits above the national median for safety. According to WDSuite’s CRE market data, both violent and property offense measures have improved over the past year, suggesting a constructive trend. As always, investors should evaluate block-level patterns and property security features as part of due diligence.
Nearby employers span financial services, food distribution, office supply, energy, and healthcare — a diversified base that supports renter demand through varied wage bands and commute convenience.
- Siegel Financial Group - Northwestern Mutual — financial services (7.9 miles)
- Sysco Southeast Florida — food distribution (11.1 miles)
- Office Depot — office supplies (14.1 miles) — HQ
- NextEra Energy — energy & utilities (17.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (23.3 miles)
This 24-unit, 1980-vintage asset aligns with a demand-supported inner-suburban location: neighborhood occupancy is competitive within the metro, median rents benchmark above national midpoints, and everyday amenities are strong in groceries, parks, and restaurants. Based on commercial real estate analysis from WDSuite, the combination of renter-occupied housing concentration and projected household growth within a 3-mile radius supports a larger tenant base and underpins leasing stability.
Vintage implies potential value-add: 1980 construction may require targeted capital planning for systems, interiors, and curb appeal to sharpen competitive positioning against newer stock. While more accessible ownership costs nearby can create competition with entry-level homebuying, steady income gains and rising household counts should help sustain multifamily demand when the property offers a clear value proposition.
- Competitive neighborhood occupancy supports lease-up and renewals
- Rents above national midpoints indicate pricing power with solid operations
- 1980 vintage offers value-add through targeted renovations and system upgrades
- 3-mile household growth expands the tenant base and supports stability
- Risk: ownership affordability nearby can compete with rentals; focus on resident experience