| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 47th | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1816 Merry Pl, West Palm Beach, FL, 33407, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 2008 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1816 Merry Pl West Palm Beach Multifamily Investment
Neighborhood data points to a deep renter base and solid amenity access that supports lease-up and retention, according to WDSuite s CRE market data. Metrics cited reflect neighborhood conditions, not this property s performance.
Located in an Inner Suburb pocket of West Palm Beach, the area surrounding 1816 Merry Pl benefits from strong lifestyle convenience. Amenity density ranks 19th of 319 metro neighborhoods competitive among West Palm Beach Boca Raton Boynton Beach subareas with cafes, parks, pharmacies, and restaurants scoring among the higher national percentiles. This concentration of daily-needs and leisure options typically supports renter demand and day-to-day livability for a 20-unit asset.
From an investor lens, rents in the neighborhood have trended upward over the past five years and sit above many national locations, while the local rent-to-income profile suggests manageable affordability pressure relative to major coastal markets. Median home values at the neighborhood level are also elevated versus national norms, which tends to sustain reliance on multifamily housing and can aid pricing power and lease retention.
Demographic signals aggregated within a 3-mile radius show recent population and household growth, with WDSuite s outlook indicating additional gains ahead. A shrinking average household size, combined with a renter-occupied share above half of housing units, points to a larger tenant base and supports depth of demand for smaller multifamily properties like this one.
The property s 2008 vintage is newer than the neighborhood s average construction year, positioning it competitively versus older local stock. That relative youth can moderate near-term capital needs while still leaving room for targeted modernization to meet current renter expectations.
One consideration: neighborhood occupancy trends track below the metro median, so investors should underwrite active leasing and renewal management. Even so, the combination of high amenity access and a substantial renter concentration (at the neighborhood level) continues to underpin demand.
Safety indicators for the surrounding neighborhood are below the metro average, with crime ranking 284th out of 319 West Palm Beach Boca Raton Boynton Beach neighborhoods. Compared with neighborhoods nationwide, the area sits in lower safety percentiles; however, recent year-over-year data shows modest improvement in both property and violent offense rates. Investors typically address this by emphasizing lighting, access control, and resident engagement in operating plans.
Proximity to key employers supports workforce housing demand and commute convenience for residents. Nearby anchors include financial services, food distribution, and corporate headquarters that broaden the potential renter base referenced below.
- Siegel Financial Group - Northwestern Mutual financial services (1.3 miles)
- Sysco Southeast Florida food distribution (3.3 miles)
- NextEra Energy utilities & corporate (9.0 miles) HQ
- Office Depot retail corporate (22.8 miles) HQ
- Tenet Healthcare Corporation, Florida Region healthcare management (32.5 miles)
1816 Merry Pl offers a 2008 vintage in a neighborhood where the average building stock skews older, creating a relative quality edge versus many nearby assets. According to CRE market data from WDSuite, the surrounding area combines high amenity access and a sizable renter-occupied share with below-metro occupancy a mix that rewards hands-on leasing, renewal strategy, and targeted upgrades to capture demand.
Neighborhood context shows upward rent momentum and home values above many national markets, which reinforces renter reliance on multifamily options and can support pricing power. Within a 3-mile radius, recent population and household growth with expectations for continued increases suggests an expanding tenant base. Operators should also account for safety considerations and focus on property-level measures that support resident comfort and retention.
- Newer 2008 construction versus older neighborhood stock, offering competitive positioning with selective modernization upside.
- High amenity density and proximity to major employers support leasing velocity and resident retention.
- Renter concentration and 3-mile household growth point to durable demand for small multifamily.
- Neighborhood occupancy trends below the metro median and safety readings require active management underwrite leasing and OPEX accordingly.