| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 42nd | Poor |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2791 S Florida Mango Rd, Lake Worth, FL, 33461, US |
| Region / Metro | Lake Worth |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | 2010-11-04 |
| Transaction Price | $2,650,000 |
| Buyer | GATOR PALM RIDGE PARTNERS LLLP |
| Seller | SCHNEIDER FRANZ |
2791 S Florida Mango Rd Lake Worth Multifamily Investment
Neighborhood renter demand is supported by service and logistics employers nearby, and, according to WDSuite’s CRE market data, rents trend above many metro peers while occupancy has been improving.
This inner-suburban pocket of Lake Worth offers day-to-day convenience that supports resident retention. Grocery, parks, and dining are accessible, with grocery and park density ranking in the top quartile among 319 metro neighborhoods and restaurants competitive within the metro. Cafes and pharmacies are sparse, so on-site conveniences and delivery options can be differentiators.
At the neighborhood level, occupancy is below national norms but has risen over the past five years, indicating improving leasing fundamentals. Roughly three in ten housing units are renter-occupied, suggesting a defined but not saturated tenant base and room for professionally managed product to capture share. Median asking rents in the neighborhood sit above many U.S. areas, so pricing strategy should balance revenue goals with retention.
Demographic statistics aggregated within a 3-mile radius point to steady tailwinds: population has grown in recent years with further growth projected through 2028, households are expected to expand materially, and median incomes have risen, creating a larger tenant base with greater spending power. Forecasts also indicate continued rent growth, supporting revenue management plans tied to ongoing demand. These trends, based on CRE market data from WDSuite, support a stable leasing outlook relative to older inner-suburban stock across the West Palm Beach-Boca Raton-Boynton Beach metro.
Home values in the surrounding neighborhood are lower than many coastal South Florida submarkets, which can introduce some competition from ownership. However, elevated rent-to-income ratios locally suggest affordability pressure that can influence retention and renewal strategies; disciplined credit screening and proactive lease management are important to sustain occupancy.
Neighborhood safety benchmarks near the metro middle, while national comparisons are more favorable. Crime metrics indicate the area performs slightly better than the U.S. average overall, with violent and property offense rates placing in stronger national percentiles. Recent year-over-year readings show some uptick in violent incidents, so investors should monitor trends and emphasize lighting, access control, and partnerships with local patrols to support resident confidence.
Proximity to diversified employers underpins workforce housing demand and short commutes for residents, including financial services, foodservice distribution, energy utilities, office retail, and healthcare management.
- Siegel Financial Group - Northwestern Mutual — financial services (5.5 miles)
- Sysco Southeast Florida — foodservice distribution (9.2 miles)
- NextEra Energy — energy utility (15.5 miles) — HQ
- Office Depot — office supplies retailer (16.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare management (25.9 miles)
With 24 units in an inner-suburban location, the asset is positioned to serve a stable, workforce-oriented renter base. Neighborhood occupancy has improved over the last five years even as it trails national benchmarks, and renter concentration provides a defined tenant pool. Directionally rising household counts and incomes within a 3-mile radius point to a larger tenant base, supporting lease-up and renewal prospects. According to WDSuite’s commercial real estate analysis, rent levels are relatively elevated for the area, which supports revenue but requires attentive affordability and retention management.
Amenity access is a practical advantage—grocery and parks rank among the metro’s top quartile—while limited cafes and pharmacies create opportunities to differentiate through on-site offerings or partnerships. Ownership costs in the surrounding area are comparatively accessible, which may create some competition with for-sale options, but sustained renter demand and forecast rent growth support a balanced underwriting outlook focused on steady occupancy rather than outsized rent spikes.
- Improving neighborhood occupancy supports leasing stability relative to older inner-suburban stock
- 3-mile radius shows population and household growth, expanding the tenant base and aiding renewals
- Convenient access to grocery, parks, and dining enhances livability and resident retention
- Revenue potential supported by elevated neighborhood rent levels; manage affordability and renewal risk proactively
- Risks: occupancy still trails national norms; limited cafes/pharmacies and accessible ownership options may add competition