| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 52nd | Fair |
| Amenities | 38th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1745 Drexel Rd, West Palm Beach, FL, 33417, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 1984 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1745 Drexel Rd, West Palm Beach Multifamily Investment
Renter demand is supported by steady neighborhood occupancy and a broadening income base, according to WDSuite’s CRE market data. For investors, the location offers durable leasing fundamentals with room for value creation over time.
Located in an inner-suburban pocket of West Palm Beach, the neighborhood shows competitive occupancy versus many metro peers and a renter base that supports multifamily absorption. Neighborhood statistics reflect area conditions, not the property’s performance.
Livability is mixed but serviceable for workforce renters. Restaurants index above national norms while pharmacies are readily accessible; cafes and parks are limited, which may temper certain lifestyle appeal. Average school ratings trend slightly above national midpoints, offering a neutral-to-supportive backdrop for family renters.
Relative to the West Palm Beach–Boca Raton–Boynton Beach metro, the neighborhood is competitive on occupancy (ranked in the better third among 319 neighborhoods) and sits above the national midpoint on housing and amenities, per WDSuite. Home values are elevated for the area, which can sustain reliance on rentals and support lease retention, while a moderate rent-to-income profile suggests manageable affordability and pricing power with disciplined lease management.
Demographics within a 3-mile radius point to population growth and a notable increase in households, indicating a larger tenant base over the next few years. Household sizes are drifting smaller, which often supports steady demand for a range of unit types. Together, these dynamics favor stable leasing and measured rent growth for well-managed assets.
The property’s 1984 vintage is newer than the neighborhood’s average construction year of the late 1970s, suggesting relative competitiveness versus older stock; investors should still plan for targeted capital upgrades to modernize systems and finishes where appropriate.
Safety indicators are mixed but trending favorable. Nationally, the neighborhood benchmarks above midrange for both violent and property offenses, indicating comparatively safer conditions than many areas nationwide. Within the West Palm Beach–Boca Raton–Boynton Beach metro, it ranks around the better third of 319 neighborhoods, signaling competitive positioning but not top-tier.
Recent data show a meaningful year-over-year decline in violent offense rates, which supports an improving trend. As always, investors should underwrite to submarket-level variance and monitor property-level measures to maintain resident confidence and retention.
Proximity to established employers underpins workforce housing demand and commute convenience, including regional distribution, financial services, and corporate headquarters noted below.
- Siegel Financial Group - Northwestern Mutual — financial services (4.6 miles)
- Sysco Southeast Florida — foodservice distribution (5.4 miles)
- NextEra Energy — energy & corporate offices (11.7 miles) — HQ
- Office Depot — office supplies corporate (20.7 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (29.0 miles)
This 100-unit asset at 1745 Drexel Rd positions investors in an inner-suburban location with steady neighborhood occupancy, a broadening income base, and 3-mile demand drivers that point to renter pool expansion and stable leasing. Based on CRE market data from WDSuite, the neighborhood competes well within the metro and sits above national midpoints on several housing and amenity measures, supporting retention for well-operated assets.
Built in 1984, the property is newer than much of the surrounding stock, providing a competitive edge versus older assets while leaving room for value-add through targeted system and interior upgrades. Elevated ownership costs in the area sustain reliance on rentals, while a moderate rent-to-income profile supports pricing power with prudent revenue management. Risks include limited nearby lifestyle amenities, mixed relative safety within the metro, and typical capital needs for a 1980s vintage.
- Inner-suburban location with competitive neighborhood occupancy supporting leasing stability
- 3-mile population and household growth indicating a larger tenant base over time
- 1984 vintage is newer than local average, with value-add potential from targeted upgrades
- Elevated ownership costs reinforce reliance on rentals and support retention
- Risks: amenity limitations nearby, mixed relative safety within metro, and aging systems capex