| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 52nd | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12535 S Shore Blvd, West Palm Beach, FL, 33414, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 1991 |
| Units | 20 |
| Transaction Date | 2016-02-25 |
| Transaction Price | $58,000,000 |
| Buyer | WELLINGTON RESIDENTIAL LLC |
| Seller | AUTC POLO CHASE FOLRIDA LLC |
12535 S Shore Blvd, West Palm Beach Multifamily Investment
Positioned in a suburban pocket of West Palm Beach with steady renter demand and a growing household base, this 20‑unit asset offers durable income potential, according to WDSuite’s CRE market data. Occupancy in the surrounding neighborhood trends above the metro median while ownership costs remain elevated, supporting renter reliance on multifamily housing.
The property sits in a suburban setting within West Palm Beach, where daily conveniences are reached by short drives rather than on foot. While the immediate neighborhood reports limited on-block retail and cafes, residents typically access amenities along nearby corridors, a common pattern in auto-oriented suburbs across the metro.
Neighborhood fundamentals indicate an occupancy profile above the metro median among 319 West Palm Beach–Boca Raton–Boynton Beach neighborhoods, based on CRE market data from WDSuite. Renter-occupied unit concentration in the neighborhood sits in the top quartile nationally, signaling a deep tenant base that can support leasing velocity and retention for small and mid-sized assets.
Within a 3‑mile radius, demographics show a high-income consumer base and continued household growth projections alongside smaller average household sizes. This combination typically expands the renter pool and supports occupancy stability for professionally managed multifamily, even as population counts fluctuate. Elevated home values relative to national norms further reinforce rental demand by making multifamily a more attainable option for many households.
Vintage context: the property’s 1991 construction is slightly older than the neighborhood’s average vintage (mid‑1990s). Investors should plan for selective capital expenditures and modernization to sharpen competitive positioning against newer stock, which can also create value‑add upside through interior and systems updates.
Safety indicators benchmark favorably in a national context. The neighborhood’s overall crime profile ranks stronger than the majority of neighborhoods nationwide, and violent‑offense measures sit in the higher percentiles nationally, supporting resident retention and leasing stability. Recent data also points to a notable decline in property‑offense estimates year over year, suggesting improving conditions. As with any submarket, outcomes vary block to block; investors should validate site‑level security and lighting as part of diligence.
Proximity to regional employers supports workforce housing dynamics and commute convenience for residents, including financial services, food distribution, and major corporate headquarters.
- Siegel Financial Group - Northwestern Mutual — financial services (11.9 miles)
- Sysco Southeast Florida — food distribution (12.6 miles)
- NextEra Energy — utilities & corporate offices (18.4 miles) — HQ
- Office Depot — retail corporate offices (18.5 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (24.0 miles)
This 20‑unit asset offers an approachable scale in a suburban West Palm Beach location where renter concentration is strong and neighborhood occupancy trends above the metro median. According to CRE market data from WDSuite, elevated home values relative to incomes sustain reliance on rentals, while a high‑earning 3‑mile household base and projected increase in households point to a larger tenant pool and support for steady lease-up and retention.
Built in 1991, the property may benefit from targeted value‑add and systems upgrades to improve competitiveness versus mid‑1990s and newer stock. Limited immediate walkable amenities place a premium on parking, in‑unit convenience, and management quality, but the employment base and income profile nearby help underpin demand for well‑maintained multifamily.
- Renter concentration and above‑median neighborhood occupancy support income durability.
- High household incomes within 3 miles and projected household growth expand the tenant base.
- Elevated ownership costs locally reinforce demand for multifamily units.
- 1991 vintage offers value‑add potential via interior modernization and system updates.
- Risks: limited immediate walkable amenities and competition from newer properties require strong operations and thoughtful capex.