| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 42nd | Poor |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 251 Bonnie Blvd, Palm Springs, FL, 33461, US |
| Region / Metro | Palm Springs |
| Year of Construction | 1973 |
| Units | 117 |
| Transaction Date | 2016-04-04 |
| Transaction Price | $8,190,000 |
| Buyer | SP Apartments LLC |
| Seller | --- |
251 Bonnie Blvd, Palm Springs FL Multifamily Opportunity
Stabilizing renter demand in an inner-suburban location supports consistent leasing, according to WDSuite’s CRE market data, with neighborhood rents positioned above national norms while occupancy trends improve.
Palm Springs sits within the West Palm Beach–Boca Raton–Boynton Beach metro and delivers everyday convenience with a pragmatic amenity mix. Grocery access and parks land in the top quartile among 319 metro neighborhoods, while restaurants are competitive among West Palm Beach–Boca Raton–Boynton Beach neighborhoods. Café and pharmacy density is limited, which suggests residents rely more on general retail centers for daily needs.
Neighborhood rents benchmark above national averages (median contract rent ranks well nationally), yet overall occupancy for the neighborhood trails national norms. The 5‑year occupancy trend is improving, which points to firmer leasing conditions than earlier in the cycle. For investors, that combination indicates potential to sustain collections with thoughtful lease management and targeted marketing.
Tenure patterns point to a balanced, mixed‑tenure area. The neighborhood’s renter‑occupied share sits below half, indicating demand from a diverse resident base rather than a purely renter‑dominant pocket. Within a 3‑mile radius, households have grown and are projected to expand further, increasing the local renter pool and supporting occupancy stability over the medium term.
Ownership costs locally are moderate relative to income when viewed against national context, which can create some competition from entry‑level ownership. At the same time, rent‑to‑income ratios suggest some affordability pressure for renters, reinforcing the importance of renewals strategy and value‑oriented amenities to support retention and pricing power.
Based on WDSuite neighborhood indicators, overall safety is modestly above the national median, with violent and property crime measures comparing in the top quartile nationally relative to neighborhoods across the country. Within the metro context, crime outcomes are mixed; conditions compare reasonably but can vary by micro‑area.
Recent year‑over‑year changes show some volatility in violent‑incident estimates, so prudent operators may monitor trends and maintain visible property management practices. These statements reflect neighborhood‑level patterns rather than property‑specific conditions and should be considered alongside local due diligence.
Proximity to a diversified employment base supports resident retention and weekday occupancy, led by financial services, foodservice distribution, energy/utilities, office supply corporate operations, and regional healthcare administration.
- Siegel Financial Group - Northwestern Mutual — financial services (5.1 miles)
- Sysco Southeast Florida — foodservice distribution (8.6 miles)
- NextEra Energy — energy & utilities (15.0 miles) — HQ
- Office Depot — office supply corporate (16.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (26.1 miles)
251 Bonnie Blvd is a mid‑size, 117‑unit community in an inner‑suburban setting with improving neighborhood occupancy and rents that benchmark above national norms. The surrounding 3‑mile area shows population and household growth with projections for further expansion, supporting a larger tenant base and steadier leasing over time. Amenities skew toward groceries, parks, and everyday retail rather than niche cafés, which tends to suit workforce renters seeking convenience.
According to CRE market data from WDSuite, rent‑to‑income ratios indicate some affordability pressure, so the thesis favors disciplined renewals, value‑add focused on in‑unit function, and expense control to protect NOI. Mixed tenure locally (renter share below half) suggests a durable demand funnel without overreliance on purely renter‑heavy blocks, while proximity to diverse employers provides commute convenience that can aid retention.
- Inner‑suburban location with grocery and park access in top‑quartile metro positioning, supporting day‑to‑day livability
- Neighborhood occupancy trending higher, with rents above national benchmarks aiding revenue consistency
- 3‑mile population and household growth expand the renter pool and support leasing stability
- Employer proximity across utilities, healthcare, and distribution underpins weekday demand and retention
- Risks: neighborhood occupancy still below national norms; renter affordability pressure; amenity gaps (limited cafés/pharmacies) warrant targeted upgrades and pricing discipline