| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Good |
| Demographics | 24th | Poor |
| Amenities | 52nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2210 N Australian Ave, West Palm Beach, FL, 33407, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 1997 |
| Units | 120 |
| Transaction Date | 2018-12-12 |
| Transaction Price | $21,400,000 |
| Buyer | UPTOWN 22 LP |
| Seller | GPAI UPTOWN 22 LLC |
2210 N Australian Ave West Palm Beach Multifamily Investment
High renter-occupied concentration at the neighborhood level points to a deep tenant base and durable leasing demand, according to WDSuite’s CRE market data. Investors should underwrite positioning against nearby submarkets while leveraging location fundamentals in West Palm Beach.
Located in West Palm Beach’s inner-suburb fabric, the property is surrounded by daily-needs amenities, with neighborhood access to groceries and parks measuring above many peers in the metro. Childcare and park density track in the upper tiers locally, while restaurants are present but not oversupplied. These patterns support workforce-oriented renter demand and day-to-day convenience without relying on destination retail.
At the neighborhood level, occupancy trends sit below the metro median (ranked 190 out of 319 metro neighborhoods), suggesting underwriting should prioritize marketing and retention execution. Median asking rents in the neighborhood trend above national norms (76th percentile) but are not among the metro’s top-performing sub-areas (ranked 205 of 319), indicating pragmatic pricing power for well-maintained assets rather than premium positioning.
Property vintage at 2210 N Australian Ave is 1997, newer than the neighborhood’s average construction year of 1982. For investors, that typically means comparatively competitive curb appeal and systems, with capital planning focused on targeted modernization and common-area refreshes rather than full gut renovations.
Demographic indicators aggregated within a 3-mile radius show population growth over the last five years and a forecast for further expansion alongside a notable increase in households. The projected rise in households coupled with smaller average household sizes points to renter pool expansion and supports occupancy stability over a longer horizon, especially for unit mixes that serve singles and small families.
Home values in the neighborhood context are elevated relative to local incomes (top percentile nationally for value-to-income ratio; ranked 3 out of 319 within the metro), creating a high-cost ownership market that tends to reinforce reliance on multifamily housing. For investors, this dynamic can favor lease retention and steady renter demand, though it also warrants attention to affordability pressure in lease management.
Safety outcomes at the neighborhood level trail both metro and national benchmarks. Overall crime performance ranks in the lower tiers of the West Palm Beach–Boca Raton–Boynton Beach metro (ranked 289 out of 319 neighborhoods), and safety percentiles land below average nationally. Investors should frame this as a submarket consideration rather than a block-level assessment and emphasize on-site management, lighting, and access controls in the operating plan.
Within the available indicators, property crimes benchmark in the lower national percentiles and violent offense metrics also sit in low national percentiles, with recent year-over-year trends showing increases. While conditions can vary by street and asset, underwriting should incorporate prudent security measures and engagement with local community resources to support resident comfort and retention.
Nearby employers span financial services, food distribution, energy/utilities, office retail, and healthcare administration, supporting a diverse commuter base and practical leasing demand for workforce and mid-income renters. The list below reflects key anchors by proximity: Siegel Financial Group – Northwestern Mutual, Sysco Southeast Florida, NextEra Energy, Office Depot, and Tenet Healthcare Corporation (Florida Region).
- Siegel Financial Group – Northwestern Mutual — financial services (1.4 miles)
- Sysco Southeast Florida — food distribution (2.7 miles)
- NextEra Energy — energy & utilities (8.7 miles) — HQ
- Office Depot — office retail corporate (22.9 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (32.4 miles)
This 120-unit, 1997-vintage asset offers relative competitiveness versus older neighborhood stock while benefiting from a high-cost ownership backdrop that sustains renter reliance on multifamily housing. At the neighborhood level, occupancy trends are below the metro median and rent positioning is mid-pack within the metro but above national norms, suggesting stable demand for well-managed assets with thoughtful pricing and retention strategies. Demographic signals within a 3-mile radius point to continued population growth and a faster rise in households, implying a larger tenant base and support for occupancy over the medium term, based on CRE market data from WDSuite.
Operationally, investors should plan for targeted upgrades that keep the asset competitive against newer deliveries while monitoring affordability pressure and neighborhood safety as underwriting considerations. Proximity to a diverse employer base underpins commuter demand and supports leasing durability through cycles.
- 1997 construction offers competitive positioning versus older local stock; plan targeted modernization to drive leasing and retention.
- Neighborhood rent levels sit above national norms but mid-pack in the metro, supporting pragmatic pricing power without overreliance on premiums.
- 3-mile demographics indicate population growth and faster household formation, expanding the renter pool and supporting occupancy stability.
- Diverse nearby employers (financial services, distribution, energy, office retail, healthcare) bolster commuter demand and leasing durability.
- Key risks: neighborhood safety ranks in lower metro tiers and occupancy trails metro median; manage via security, service quality, and disciplined pricing.