| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 65th | Good |
| Amenities | 38th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1951 Brandywine Rd, West Palm Beach, FL, 33409, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 1999 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | $4,800,000 |
| Buyer | 1951 BRANDYWINE LLC |
| Seller | BRANDYWINE RENTALS LLC |
1951 Brandywine Rd West Palm Beach Multifamily Investment
Elevated ownership costs and a high renter-occupied share in the surrounding neighborhood suggest durable demand for a 24-unit asset, according to WDSuite’s CRE market data.
Located in an inner-suburb pocket of West Palm Beach (neighborhood rating: B+), the area shows solid daily-needs access with pharmacies ranked in the top quartile among 319 metro neighborhoods and grocery availability competitive within the metro. Cafés, parks, and childcare are less concentrated locally, which places more weight on proximity to employment and retail corridors for resident convenience.
Renter concentration in the neighborhood is high (62.7% of housing units are renter-occupied), placing it in the top quartile metro-wide and indicating a deep tenant base for multifamily operators. Neighborhood rent levels sit higher relative to many peers (above the national median), while elevated home values and a high value-to-income ratio signal a high-cost ownership market that can reinforce rental demand and support lease retention.
Neighborhood occupancy trends are softer (below the metro median and in the lower national percentiles), which points to the need for active leasing, resident experience, and renewal management to sustain performance. By contrast, the property’s 1999 vintage is newer than the neighborhood’s average construction year of 1987, offering relative competitiveness versus older stock; investors should still underwrite ongoing system updates and modernization as appropriate for a late-1990s asset.
Within a 3-mile radius, demographic data show recent population growth with a notable increase in households and families, and forecasts indicate continued household expansion alongside smaller average household sizes. These trends expand the renter pool and can support occupancy stability and pricing power over time when paired with disciplined operations and targeted unit renovations. Based on CRE market data from WDSuite, these dynamics align with workforce-oriented multifamily demand in West Palm Beach.
Safety indicators are mixed and should be monitored. The neighborhood ranks 252 out of 319 metro neighborhoods for overall crime, which is below the metro median and corresponds to a lower national percentile. Recent trends are nuanced: violent offense rates have improved year over year (a favorable shift versus many neighborhoods nationwide), while property offense measures have moved higher. Investors should focus on property-level security, lighting, and resident engagement, and evaluate trends at the submarket and city levels for context.
The employment base nearby spans finance, food distribution, energy, office supplies, and healthcare, supporting workforce housing demand and commute convenience for residents. Key employers include Siegel Financial Group – Northwestern Mutual, Sysco Southeast Florida, NextEra Energy, Office Depot, and Tenet Healthcare Corporation (Florida Region).
- Siegel Financial Group – Northwestern Mutual — insurance/financial services (2.0 miles)
- Sysco Southeast Florida — food distribution (2.8 miles)
- NextEra Energy — energy & utilities (9.3 miles) — HQ
- Office Depot — office supplies corporate (22.3 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (31.4 miles)
This 24-unit asset at 1951 Brandywine Rd sits in a renter-heavy neighborhood where elevated home values and a high value-to-income environment tend to sustain reliance on multifamily housing. The property’s 1999 construction is newer than the neighborhood average, providing a relative edge versus older stock while still warranting capital planning for systems updates and selective renovations. According to CRE market data from WDSuite, neighborhood occupancy is below the metro median, underscoring the importance of active leasing strategy; however, a deep renter pool and steady household expansion within a 3-mile radius support demand durability.
Daily-needs access is favorable for residents, with pharmacies in the top quartile metro-wide and groceries competitive among West Palm Beach neighborhoods, while proximity to diverse employers broadens the potential tenant base. Combined with projected household growth and smaller household sizes in the area, the submarket backdrop is supportive for well-managed, workforce-oriented multifamily.
- High renter-occupied share and elevated ownership costs support a deep tenant base and potential lease retention.
- 1999 vintage offers competitive positioning versus older neighborhood stock with value-add and modernization upside.
- 3-mile demographics indicate population and household growth, expanding the renter pool over the medium term.
- Daily-needs retail access (pharmacy and grocery) and proximity to major employers support leasing and retention.
- Risk: neighborhood occupancy trails metro norms; execution depends on active leasing, resident experience, and renewal management.