| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Poor |
| Demographics | 9th | Poor |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1551 Quail Lake Dr, West Palm Beach, FL, 33409, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 1995 |
| Units | 36 |
| Transaction Date | 2013-09-04 |
| Transaction Price | $16,850,000 |
| Buyer | SP WEST PALM LP |
| Seller | SCHICKEDANZ BROS PALM BEACH LTD |
1551 Quail Lake Dr, West Palm Beach Multifamily Investment
Neighborhood occupancy has remained resilient and supportive of stable cash flow relative to many West Palm Beach areas, based on CRE market data from WDSuite. With solid renter demand drivers nearby, this location suits investors prioritizing steady performance over speculative upside.
Neighborhood and Demand Drivers
This Inner Suburb pocket shows durable renter demand, with neighborhood occupancy trending above the metro median and steady over the past five years according to WDSuite’s CRE market data. The renter-occupied share of housing units is high for the metro, indicating a deep tenant base that can support leasing continuity and renewal velocity.
Amenities are mixed but serviceable for workforce households. Grocery access is strong (competitive among West Palm Beach-Boca Raton-Boynton Beach neighborhoods), and restaurant density is high relative to the region and many areas nationwide. In contrast, the neighborhood underperforms on parks, pharmacies, and cafes, which may moderate lifestyle appeal but typically does not diminish core workforce demand.
School quality measures trail national norms (national percentile in the mid-teens), which may limit appeal for some family renters. Within a 3-mile radius, population and household counts have increased and are projected to continue rising, pointing to a larger tenant base and additional demand for rental units. Forecasts also indicate smaller average household sizes, which can support absorption of one- and two-bedroom product.
Home values in the neighborhood sit below many U.S. areas, while the value-to-income relationship is near national midrange. For investors, this implies rental housing competes with relatively accessible ownership options in some segments, but elevated ownership costs across the broader metro still help sustain reliance on multifamily for a significant share of households. Rent-to-income levels suggest some affordability pressure, underscoring the importance of active lease management and thoughtful renewal strategies.
Safety Context
Safety trends are mixed and should be evaluated comparatively rather than block by block. The neighborhood’s overall crime rank sits below the midpoint among 319 metro neighborhoods, placing it below the metro average. Nationally, it tracks near the middle on violent offense rates, and recent data shows improvement in violent incidents year over year, which is a constructive directional signal.
Property offense indicators are weaker than national midrange and recently ticked up, which warrants standard risk controls for physical security and resident safety communications. Investors should benchmark the area against competitive West Palm Beach submarkets to calibrate operating protocols, rather than relying on citywide generalizations.
Employment Base and Commute Access
Nearby employers span financial services, food distribution, energy, office supply, and healthcare administration, supporting a broad workforce renter pool and commute convenience for residents.
- Siegel Financial Group - Northwestern Mutual — financial services (2.68 miles)
- Sysco Southeast Florida — food distribution (4.79 miles)
- NextEra Energy — energy & corporate offices (11.31 miles) — HQ
- Office Depot — office supply corporate (20.43 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (29.40 miles)
Why Invest
Built in 1995, the asset is newer than much of the surrounding housing stock, offering a competitive edge versus older 1970s-era properties while still leaving room for targeted modernization to enhance positioning. According to CRE market data from WDSuite, the neighborhood’s occupancy sits above the metro median with minimal volatility, supported by a high concentration of renter-occupied units and a broad employment base within commuting distance.
Within a 3-mile radius, population and households have grown and are projected to increase further, expanding the renter pool and supporting occupancy stability. The amenity set is functional, anchored by strong grocery and dining access, though limited parks and cafes suggest value in on-site community features. Affordability pressures are present, so disciplined leasing, renewal management, and measured capital planning should help sustain retention while preserving pricing power.
- 1995 vintage offers relative competitiveness vs. older stock, with selective upgrade potential
- Above-metro neighborhood occupancy and high renter-occupied share support steady leasing and renewals
- 3-mile population and household growth expand the tenant base and support occupancy stability
- Risk: amenity gaps (parks/cafes), below-average school ratings, and property offense trends call for prudent operations and resident engagement