| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 65th | Good |
| Amenities | 38th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1400 Village Blvd, West Palm Beach, FL, 33409, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 1991 |
| Units | 36 |
| Transaction Date | 2019-12-19 |
| Transaction Price | $55,056,625 |
| Buyer | AGM VUE PROPERTY OWNER LLC |
| Seller | WEST PALM BEACH MULTIFAMILY PARTNERS LLC |
1400 Village Blvd, West Palm Beach Multifamily Investment
Renter concentration is high in the surrounding neighborhood, while elevated ownership costs support durable demand, according to WDSuite’s CRE market data. Investors should underwrite steady interest from renters but remain attentive to pricing relative to incomes.
Located in an Inner Suburb of West Palm Beach, the neighborhood carries a B+ rating and ranks 116 out of 319 metro neighborhoods, which is competitive among West Palm Beach-Boca Raton-Boynton Beach neighborhoods. The local housing stock skews slightly newer than the metro average, and the 1991 construction year positions the asset as relatively newer than the area’s 1987 average, suggesting competitive appeal versus older inventory while still warranting selective modernization planning as systems age.
Neighborhood renter-occupied share is 62.7% (ranked 20 of 319), placing it in the top quartile metro-wide and indicating a deep tenant base for multifamily. By contrast, neighborhood occupancy trends rank 241 of 319 (below the metro median), so investors should plan for leasing agility and active marketing to maintain stabilization at the asset level.
Livability is reinforced by everyday retail access: grocery and pharmacy density score in the upper national percentiles, while cafes and parks are limited. Home values sit in higher national percentiles and the value-to-income ratio is elevated, which typically sustains reliance on multifamily rentals and can support pricing power. At the same time, the neighborhood’s rent-to-income positioning indicates potential affordability pressure, so renewal strategies and amenity positioning are important for retention.
Within a 3-mile radius, demographics show population growth over the last five years alongside a larger increase in households and smaller average household size, expanding the renter pool. Forecasts through 2028 point to continued population gains and a notable increase in households, which supports occupancy stability and long-term absorption for well-managed properties. These trends, paired with neighborhood rent levels that benchmark above many national peers, underscore demand fundamentals while calling for disciplined lease management and targeted upgrades based on commercial real estate analysis from WDSuite.
Safety indicators for the neighborhood are mixed relative to broader benchmarks. Overall crime ranks 252 out of 319 metro neighborhoods, which is below the metro average. Nationally, violent and property offense measures sit below the median percentiles, signaling a weaker safety profile compared with many U.S. neighborhoods.
Trend-wise, estimated violent offenses declined year over year and perform in the upper national percentiles for improvement, which is a constructive signal. Investors should incorporate prudent security measures and monitor local trends over time rather than relying on block-level assumptions.
Nearby employment spans financial services, foodservice distribution, energy utilities, office retail, and healthcare administration, supporting commuter convenience and a diversified renter base.
- Siegel Financial Group - Northwestern Mutual — financial services (2.4 miles)
- Sysco Southeast Florida — foodservice distribution (3.3 miles)
- NextEra Energy — energy & utilities (9.8 miles) — HQ
- Office Depot — office retail corporate (22.0 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (30.9 miles)
The property’s 1991 vintage is slightly newer than the neighborhood’s average stock, helping it compete against older assets while leaving room for targeted value-add work. Strong renter-occupied concentration at the neighborhood level supports a reliable tenant funnel, and higher ownership costs in this part of Palm Beach County tend to reinforce multifamily demand. According to CRE market data from WDSuite, neighborhood occupancy ranks below the metro median, so hands-on leasing and thoughtful amenity upgrades can be differentiators.
Within a 3-mile radius, recent population growth and a larger increase in households point to renter pool expansion, with forecasts through 2028 indicating further household gains and smaller average household size—factors that typically aid lease-up and renewal performance. Amenity access is practical (groceries and pharmacies), though limited parks and cafes suggest resident programming and on-site conveniences can bolster retention.
- 1991 vintage offers competitive positioning versus older local stock with selective renovation upside
- High neighborhood renter-occupied share indicates depth of demand for multifamily units
- 3-mile radius shows population and household growth, supporting lease-up and renewal potential
- Elevated ownership costs can sustain renter reliance, aiding pricing power with careful income-based underwriting
- Risks: neighborhood occupancy ranks below metro median, affordability pressure, limited park/cafe density, and a safety profile that trails national medians